I think volume is going to pick up to begin with and that the markets probably, by end of this week, are going to begin to get out of that resistance level, both the Nasdaq and Dow. And I think we're probably going to test the old highs by the end of year. Leadership, I think, will come from technology and telecommunications stocks. The economy is headed for a soft landing. All the fundamentals remain in place. And, last but not the least, there's been a tremendous amount of build up in cash reserves. That money is going to be put to use.
More Quotes from Peter Cardillo:
It doesn't surprise me. We all know the House is going to vote to impeach the President. The fact is that economic times here in the United States are still quite good.Peter Cardillo
Oil prices have backed over 22 here. And I kind of think that this is what is probably going to give a bumpy ride for the next several week to the bond market.
Peter Cardillo
EBay came out with good numbers, but the outlook for the fourth quarter and next year wasn't so good, ... We're probably looking at a lower open, with a mixed trading session, as people respond to individual earnings and keep an eye on the price of oil.
Peter Cardillo
I suspect over the next session or two, we could see more selling, as investors await all the economic news due next week,
Peter Cardillo
The Dow tried twice yesterday to get past 10,000 and failed, but I think it's really just a matter of time. We could see that happen by the end of the year.
Peter Cardillo
The market is being held hostage by higher yields. But I think they are somewhat over extended at this time.
Peter Cardillo
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