The market's getting to a point where it's ignoring the bad news.
More Quotes from 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
I think the market is in the midst of a pretty strong rally, and any selling today doesn't mean much, ... We're in an uptrend.
Jon Burnham
This kind of news makes the market feel better for the moment, but when you're in this kind of bearish trend, some small concession isn't going to reverse direction. A lot of people thought Bush should have acted sooner. Even with this moving forward, the market has other things to worry about, like the economy, corporate profits and Iraq.
Jon Burnham
The big unknown in this is the geopolitical situation,
Jon Burnham
We won't see 15 percent growth like we're seeing in the third quarter (of 2005), but I think certainly low- to mid-single digits.
Jon Burnham
People have been stopped in their tracks. It's impossible to trade the market right now because there's no way to know what's going to happen in Iraq hour to hour, day to day, so I think most individual investors are hanging back and any action is dominated by hedge funds.
Jon Burnham
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