I think we have gotten ourselves into a classic year-end speculative mentality. I really think the market has gotten ahead of itself. People really started buying on hope. I don't rule out some year-end euphoria, but I don't think the market has a lot more upside to it.
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The stock market rallied late last year and early January because people thought we were near the end of the rate cycle, but now they're less sure.David Briggs
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The market seems trapped between 1,200 and 1,212 on the SP. We'll probably see a little strength later in the week, at the very least to offset last week's weakness and if we see the SP dip below 1,200, then I think some bargain hunters will come out.
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Today was a holiday for some people and that's why we had light volume, ... Another reason is that investors are still debating the impact of a war with Iraq. Some feel a war will cost a lot of money, send the deficit soaring and plunge the economy into a recession. Others think this round will go a lot faster and not cost as much. But this debate is causing a lot of people to sit on the sidelines
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We seem to have a hiccup every late September or October, and that's set us up for a bit of a rally, ... The question is whether it fades in early November or lasts through the holidays. I need to wait and hear from retailers before that becomes clear.
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Based on Topics: Hope Quotes, People QuotesBased on Keywords: euphoria, year-end
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