The market is jittery and it's gonna keep heading lower for a while. Earnings news is doing nothing to help. Who cares if a company beat estimates by a penny when the profits are so far down from the year before and the estimates were already lowered three times
More Quotes from Kenneth Sheinberg:
There's a total lack of conviction. There's no news coming out, earnings are done and most of the players are in a wait-and-see mode.Kenneth Sheinberg
There's really no conviction. The market is churning. That's all it's doing is churning.
Kenneth Sheinberg
Biotech is weak and biotech has been one of the main reasons that led the Nasdaq to 5,000.
Kenneth Sheinberg
It's kind of a normal rotation. Some of these beaten-up groups are getting some sponsorship.
Kenneth Sheinberg
It's just continuing worry about valuation.
Kenneth Sheinberg
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