I think it's just the first taste of the (economic) data. The demand for technology still seems to be there but (inflation concerns) mean the market will bounce all over the place.
More Quotes from John Manley:
It's going to be very interesting. Tomorrow will depend on the number. If it is good, I think the bond market (yields) wants to go lower.John Manley
I think there is some optimism growing, ... Wall Street faces two problems How fast the economy is growing and also the level of the economy.
John Manley
It's a grown ups market that looks hard at the fundamentals -- the difference between making and not making a number are so enormous.
John Manley
But Salomon portfolio strategist John Manley points out that one big reason that third quarter gain looks so good is that the third quarter last year, which included the immediate aftermath of Sept. 11, was so incredibly bad. These are not outrageous numbers, ... You just have very easy comparisons from a terrible point in time.
John Manley
It would boost confidence in the overall equity market. The best statement a management can make that it believes in itself is for it to take the company away from you.
John Manley
The rapid rise does tell you something that we know already -- the market is so starved for good news that it doesn't take much for the market to go up.
John Manley
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