There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions ... It was a technical buyback. But it still was a very encouraging day as far as I am concerned. People are feeling more confident about this market now.
More Quotes from John Pickett:
They are three very good reasons right now for people to sit on cash, ... If you can somehow remove one or two of those obstacles -- and I'm thinking of earnings coming in the beginning of July -- we might get some people to get off their hands and get into this market.John Pickett
The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there's really only so much that short-covering can do to the market. I am afraid it may be only a temporary measure here.
John Pickett
In the past four days prior to Friday we packed in two weeks worth of work. On Tuesday people didn't just get hit they got decked.
John Pickett
This is the last full week of the quarter and yesterday (Wednesday), after two down days, the market rallied and I think there was a continuation of that momentum today (Thursday),
John Pickett
This was a tremendous day for the markets. Not so much that we had a 200-something point day on the Dow, but that the volume was so good. A lot of institutions were sitting on some cash and said, 'OK, this is a good place to get in'.
John Pickett
Readers Who Like This Quotation Also Like:
Based on Topics: People QuotesI had a job when I was 16 at a gas fitter, which was a bit like a pipe fitter.
Joe Cocker
Through Kurt I saw the beauty of minimalism and the importance of music that's stripped down.
Dave Grohl
People who think my books are autobiographical, which they're not, credit me with having a much better memory than I do. I do, however, have a powerful imagination.
Curtis Sittenfeld