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.
More Quotes from 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 moreKen 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
The market has priced in a lot of positive news but the bottom line is that corporate earnings are not there, there's zero visibility and there's not going to be for at least another two quarters.
Ken Sheinberg
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.
Ken Sheinberg
Leadership isn't phenomenal and now you're entering pre-announcement season, so people are worried. Volume hasn't been great, but trends are definitely in place technology is for sale and defensive issues are to buy.
Ken Sheinberg
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