The weight of the evidence of the economic and news factors is not compelling and it's increasing the caution and concern in the market. There is very little reason to be buying the market right now.
More Quotes from Dodge Dorland:
Telecommunications will remain very constructive, very hot. Several of the larger cap Internet stocks will behave well -- America Online will be one. The smaller Internet stocks will be the play of the future over the next three to six months.Dodge Dorland
The pullback that we saw after yesterday's big rally is being viewed as a buying opportunity by institutional investors. So instead of selling on the rallies, they're now buying on the dips. Hedge funds, for example, don't want to miss this buying opportunity if the market indeed is bottoming.
Dodge Dorland
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