Whenever a company like Dell implodes, they go on to other names. It's a rotation -- put a dart in one of them and go on to the others, ... It's a few stocks, as it's been for the last few weeks, that have impacted the averages. I don't think the volatility this morning was any different from any other day.
More Quotes from Larry Rice:
I find it incredulous that you can take a two-year bear market in the Dow and reverse it in two days, ... So I'm not sure this is too sustainable past another day or so before the money flows back into Nasdaq.Larry Rice
The mutual funds are trying to make up for a god-awful performance and they're going to put whatever cash they have to work.
Larry Rice
There's a continued choppiness coming from yesterday's meeting it's really a trading environment instead of an investing environment, ... Action has been dominated by stories in individual stocks but, to me, it's just continuing the trend of more money chasing few names.
Larry Rice
You've got the Fed meeting out of the way but you have higher oil prices, which is impacting the transportation average today. As far as oil is concerned, you're coming into the heating oil season and inventories are down. I think that weighed upon (Fed chairman) Greenspan's cautionary bias.
Larry Rice
I think we're very close to the end of this particular correction. The bull market's not over by any means. We need several increases in interest rates before stocks top out.
Larry Rice
There's a lot of uncertainty with these deals. You've got Congressional investigations that will take place. Foreigners come in and Congress will take a really close look at it.
Larry Rice
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