It's not good news that we've broken through the July lows but analysts are pouncing on every stock, including the greatest names in the business such as General Electric. We've seen some unbelievably disappointing calls on some heavy-hitting names,
More Quotes from Jon Burnham:
Your high-tech companies won't be hurt very much at all (by tighter credit) but your retail companies will be hurt.Jon Burnham
It's a very nervous market right now. It reacts violently. You have any bit of news, bad or good, and the hedge funds are all over it. That's who's controlling this market, not the individual investor.
Jon Burnham
The big unknown in this is the geopolitical situation,
Jon Burnham
I think the market is searching for any good news it can find but the gloom is so thick out there. The market's in a narrow range but my guess is we are bouncing around the bottom.
Jon Burnham
The economy is holding up. We had good employment numbers this morning. In the short term, I wouldn't be surprised to see a rally early next week.
Jon Burnham
In terms of stocks, GE is the biggest problem today, as is the American automobile sector. You've got Ford trading at 7 a share, that's practically bankruptcy level for a company that is not in danger of declaring bankruptcy. And when GE, one of the great, major companies of the world is down, it has a big impact on the psychology.
Jon Burnham
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Based on Topics: Business & Commerce QuotesBased on Keywords: heavy-hitting, pouncing
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