You're still seeing people like Compaq worried about the quarter so you're seeing more pressure on high multiple stocks. The market is still trying to find a bottom but selling on continued fears of warnings.
More Quotes from David Beard:
The market opened down when people did a superficial analysis and saw that (HP) missed earnings, ... Once the conference call got going and you had a chance to read the press release, you got a different story. Hewlett's demand picture was good.David Beard
Typically in bear markets, you have rallies. However, I tend to think we have put in a bottom and will keep rallying from here.
David Beard
The last two 'up' days have been on higher volume so you've seen the confirmation of a rally. Stocks aren't going down on bad news anymore.
David Beard
The market is selling off because the fundamentals are weak and the stocks are overvalued.
David Beard
The biggest of the big are finally capitulating, ... Usually that's what happens -- the biggest of the best are the last to go down. But don't forget the worst of the worst are down 90 percent.
David Beard
This is really sending a bad message to the public.
David Beard
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