I think the market is a little nervous because Greenspan talks tomorrow and everybody is expecting him to give an indication of how much of an increase we'll see next week.
More Quotes from Kate Warne:
Basically, all of the companies that have been doing the best this year, in terms of the major leaders, the large caps, really saw a big pull-back today.Kate Warne
I think the sentiment has not entirely shifted away from the belief that technology will continue to do well. But the believers are getting more and more worried about their beliefs.
Kate Warne
It's not that investors are uncomfortable with either (Republican) George Bush or (Vice President) Al Gore. They are just sitting on the edge trying to figure out who will be president so that they can make decisions.
Kate Warne
What you saw today was the beginning of investors looking at other segments to say 'where are some values' And that's why we saw some increases in some oil stocks, some metal stocks, some other areas that haven't done so well.
Kate Warne
The market has really built in a higher price, being concerned about the possibility of supply disruptions, but the Saudis said they had a plan to make that up. The market is warily eyeing what's going on, and at the moment it's saying there's enough excess capacity, so supply is not a major issue in the short term. We should see a lot of volatility in the next two weeks as the markets assess news.
Kate Warne
What we saw today was people deciding that the non-technology sector really held some good values,
Kate Warne
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