I think the market has enough positives to get back to the upside shortly. We need to avoid any mistakes. I think that's the catch for today. The Dow breaking 7,600 would be a mistake.
More Quotes from Greg Nie:
I believe it's premature to take a defensive stance on the market at this time. As painful as this has been - and if you look at breadth statistics you get a little upset - I still think it's a temporary move. It's close to reaching an oversold condition.Greg Nie
The greater question in our view with this market is what kind of rally do we have if indeed it started on Tuesday. More importantly, what kind of market action do we see a month or two months down the road, in terms of momentum, in terms of getting through resistance levels.
Greg Nie
If the characteristics fall into place, the quality of the market action falls into place.
Greg Nie
If the currency is going to weaken, the U.S. dollar, that is, it raises the prospect of expatriation of funds back to their home domiciles. That would bring some renewed pressure on the bond market.
Greg Nie
We had nice strength early, and then bonds reversed and stocks followed. It's certainly a bit more choppy and wide-ranging than you would expect to see. The technical picture has eroded from positive to neutral.
Greg Nie
Readers Who Like This Quotation Also Like:
Based on Topics: Error & Mistake QuotesIt's a repressive society where you can't be horrible, I'm not horrible, they made me horrible, I'm just honest.
Johnny Rotten
My first rule of consumerism is never to buy anything you can't make your children carry.
Bill Bryson
The means by which we live have outdistanced the ends for which we live. Our scientific power has outrun our spiritual power. We have guided missiles and misguided men.
Martin Luther King, Jr.