It was a very strange day, I think. Thursday the market hadn't bothered to listen. Today, they listened, ... We saw some profit-taking because things have been moving (up) so much. As people begin to get nervous about whether we'd see higher rates and exactly how fast things would grow, they were pulling some money off the table.
More Quotes from Kate Warne:
People are selling everything, and that is different because it suggests a lack of attention to which companies are going to be fine. This could be a good sign for the market to start moving higher, not necessarily tomorrow, but as we get toward the end of this.Kate Warne
It sounds like it's pretty much what we'd expected at this point. But everybody is still worried about how long the consumer can sustain the economy. So the fact they are only up a tenth of a percent, people are beginning to worry whether the consumers are really going to slow down, and the economy with it.
Kate Warne
I expected today was going to be pretty choppy, ... We were again seeing a real conflict within the tech sector between people who believe values are low enough to buy and people still concerned about (possible) announcements of slowing growth, that the economy was coming in for a hard landing and nothing but bad news would be coming out.
Kate Warne
I think what we saw was perhaps a bit more excitement at the end of the year than was warranted. Today we're seeing much more of a negative sentiment than is warranted.
Kate Warne
I think that the market is in a wait-and-see mood to see whether there is any direction in Friday's reports.
Kate Warne
Basically, today is all Nortel. Other things would have come out flat if weren't for Nortel,
Kate Warne
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Based on Topics: Listening Quotes, Money & Wealth QuotesBased on Keywords: profit-taking
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