You had the bond market weaker and you had oil and gas up as a commodity. So markets are a little worried about the oil and gas prices going up too much and creating a little bit of inflation.
More Quotes from Irwin Michael:
An incredible turnaround today, the market was down and dirty early this morning and it came back gradually.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.
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I expect this market to remain extremely volatile and test everyone's patience for the next little while.
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The thing that we pride ourselves in and the thing we attempt to do is have consistent long-term performance. We may not be No. 1 over 12 or 18 months but we are consistently up there.
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I think the market correction is a slow bleed. It's being nickel-and-dimed to death.
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