The market anticipated a very weak third quarter. There was concern this would roll over into an on-going problem. Once we have evidence that it is not and the third quarter comes in a little better than expected, that will be the basis for the next leg up,
More Quotes from Joseph Battipaglia:
The PeopleSoft news could make it more likely that the Oracle deal will go through. And after all the recent downgrades, people are probably relieved to see a brokerage lifting its view on the chip sector.Joseph Battipaglia
What's going to be positive here is delivered earnings, a fairly bright outlook for the second half by corporations, and a growing comfort among investors that perhaps the tightening initiative by the Fed is coming to a close,
Joseph Battipaglia
There are two things that got this rally started late last week -- short-covering and an expectation that this (war) action will be brief, ... If this war is executed right, you could see a bounce off the action, but it's going to remain volatile this week with so much up in the air.
Joseph Battipaglia
I'd have to see some significant production cuts and some pain from the producers before I would even take a nibble at it.
Joseph Battipaglia
We continue to be in this trading range, at the lower end right now, ... The only catalysts that can get us out of here in the next few weeks is some relief at the pump, lower oil prices and news about how much the Fed is going to raise rates.
Joseph Battipaglia
I think you have a lot of people reluctant to make commitments ahead of that payroll number,
Joseph Battipaglia
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