We'll probably drift through February, a typically tough time for the market. We had four months up and one month down, so we're not out of the woods yet.
More Quotes from David Briggs:
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.David Briggs
Last week we were looking for three things for cash to flow into mutual funds, tech stocks to do better and the market to end above 1,200. We got them all, so we were anticipating a good day today.
David Briggs
The market's already been up a lot and there just aren't that many more days until the end of the year. People are looking at what happened in last year and thinking we might see a January pull back.
David Briggs
When a rally gets under way the sellers pull away and when selling sets in the buyers pull away. We'll have to get used to this type of volatility. The market is trying to find a bottom and could take six months to do that. But people are trying to trade this market in excess of its underlying fundamentals.
David Briggs
The Enron news may have been enough to distract people today, or if not, then maybe kept investors to the sidelines to take a look at what their position is on some of the companies that they were buying. However, it did have a drag on the market.
David Briggs
At some point, high oil prices have to matter. When Joe Six Pack has to start paying 50 to fill up his tank, you have to think they will stop buying Frappuccinos and bottled water.
David Briggs
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