What you have in this type of environment is that when rallies fail or even stall, people say it's just time to dump.
More Quotes from Charles Payne:
if someone were to call the stock from you, you wouldn't have to go out and buy it -- you could just deliver the stock. The great thing is it's a contract so you know what the price is going to be and there's not a lot of guessing there.Charles Payne
All the focus is on the blue chips but there's renewed optimism. People are using these opportunities to buy these stocks on weakness, and what investors are starting to learn is it's a selective process. You want to participate but you want to be cautious.
Charles Payne
I think it's a matter of the market running out of steam, and maybe everyone realizing we've come too far too fast. The stocks have moved ahead of the fundamentals.
Charles Payne
There's a benefit of the doubt that most of these companies have hit bottom and I think there's still an element of investor psychology to spread the wealth.
Charles Payne
Historically, we know that if they go down, they won't stay down very long. Remember America Online ( AOL Research , Estimates ), and how people bought every time they had trouble It's a classic buying opportunity.
Charles Payne
I would be surprised if some smart managers don't go near some of the exiting stocks, particularly on weakness in stocks like Unilever -- well-run and has been able to grow through acquisitions. But I don't think anyone can construe this as a no-confidence vote on these stocks that are cut, but just as a different route by the SP committee,
Charles Payne
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