Most of the decline came from the banks. Banks have run up the last several weeks and part of the reason (for the fall today) was profit-taking.
More Quotes from Irwin Michael:
The market is like Sleepy Hollow today, there's very little going on and now there's fewer and fewer players out there. It drifts, it depends on the last trade.Irwin Michael
It's very lethargic. It's individual stocks that are moving it. It's very, very quiet, I'm not seeing a lot of activity.
Irwin Michael
The high-tech sector is relatively weak there's not a lot of conviction. It's lost favor with investors who would in the past see Nortel down a dollar and want to buy. We're not seeing that right now.
Irwin Michael
A lot of people sensed the market was ripe for a rebound but it's just not happening. It's definitely not something that happens overnight, so in addition to time it's going to take some good earnings.
Irwin Michael
The market is bouncing a little bit. We're still anxiously awaiting earnings numbers. Consistently, we're getting profit warnings, but while there is concern, at the same time hope springs eternal that things will turn around.
Irwin Michael
There's nervousness and people waiting maybe for another shoe to drop. It's not going according to (plan), most people had expected the market to be a little better. They expected a Santa Claus rally which was very muted this past year.
Irwin Michael
Readers Who Like This Quotation Also Like:
Based on Topics: Reasoning QuotesLittle old ladies of both sexes. Why do I let them bother me?
John OHara
When they tell me one of my old movies is on TV, I don't look at it.
Alexis Smith
I have worked all of my life, so I really don't have any hobbies.
Steven Hill