The market reacted pretty strongly to Friday's surprisingly weak employment report, and I think you're seeing the market in the process of digesting that now.
More Quotes from John Davidson:
I think I'm probably in the minority that thinks that Greenspan may raise rates on Tuesday. I think the real case is a fact that the labor market is really tight and commodity prices have really increased.John Davidson
The payrolls report would typically be the week's big event, but I think people are having a hard time with the report, because forecasts are all over the place due to confusion about the impact of the hurricanes.
John Davidson
I think it's good even to stay invested. We tend to like technology. But if you like technology, you're going to have lots of volatility because that sector is much more volatile than the other sectors. If you don't like the volatility, then it's good probably to balance that with something else, some other sector.
John Davidson
We've had the same Fed chairman for so many years that we have a standard. He represents an unknown, to an extent.
John Davidson
There's a euphoria about Afghanistan and people are expecting that we're going to have growth in the economy again. I don't think it's going to take place this quarter, but the market usually anticipates that. It (the market) may be getting ahead of itself a bit, but I think there's some positive signs out there.
John Davidson
I think the market is waffling at this point, ... Yesterday, everybody heard what they wanted from Greenspan's speech and you saw a big run up. I think that today there's a little bit of exhaustion from that.
John Davidson
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