It's a little bump off of a serious decline sellers are walking away and some people are doing a little bit of bottom fishing. Stocks were pretty depressed and they're just bouncing back a little bit there's nothing behind it.
More Quotes from Ken Sheinberg:
Right now we're in the middle of the range, pricing in some positive news, and the market will be susceptible to negative news. We're in a situation where, within a downward move, you're going to have short, sharp rallies.Ken Sheinberg
The theory is that with rate increases, it doesn't effect the 'new economy' stocks.
Ken Sheinberg
People get a little fed up and see their 401(k) money down 40 percent over the last year, so they start to freak out a little bit. It's a very emotional time and the market trades on emotion. I think a lot of people have lost their nest eggs, so do they want to lose more
Ken Sheinberg
People get a little fed up and see their portfolio down significantly, and I always laugh to myself, because I still got paid.
Ken Sheinberg
Stocks don't go straight down and stocks don't go straight up. The market's in trouble technically, it's in trouble and fundamentally it's in trouble. We're going to bounce around with a downward bias.
Ken Sheinberg
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