Decent economic news is being ignored. The market seems to be paralyzed by Iraq and terrorism -- it's just a mess. In another time, the economic numbers might have caused a rally or some kind of stability.
More Quotes from Donald Selkin:
It's a special situation. Individual stocks that are heavily weighted are doing well.Donald Selkin
All things considered, we're doing OK here. Here we are in the seasonally worst time of the year, and we're hanging in there.
Donald Selkin
I'm happy that things are going up in the markets but when things get too bullish and too, I don't know if they're exuberant, but too optimistic, someone will find something between the lines on the Fed statement saying, 'but they said this, they cautioned here', maybe to have to be vigilant, so people might use that as an excuse to stay profits.
Donald Selkin
Some of the blue chip tech stocks, especially the Internet stocks, as we all know, have really taken it on the chin this year. So if you want to play the technology sector, you should stay with the ones that did not make warnings going forward, as did the Amazon or Nokia, so stay with those.
Donald Selkin
Some late talk was circulating that they would move their bias. We also saw the market rallying strongly into the decision and we sold off on the disappointment. I believe we're more on the way to a soft landing.
Donald Selkin
We did OK for the first half of the month and then faded out -- a lot of the economic data in the last few weeks have been a little discouraging. It's kind of a sour way to end a good quarter but not too bad for the month.
Donald Selkin
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