It's been all over the place today because the volume is low. And in that kind of environment, the market is more vulnerable to pulling back on geopolitical concerns and the weakness of the dollar.
More Quotes from Peter Cardillo:
The market this morning moved up on the good economic numbers. It was a confirmation of what the market has been saying.Peter Cardillo
I still expect the third quarter to be respectable but that's a thing of the past. But what happens in the fourth quarter (is the question).
Peter Cardillo
I believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week.
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
I think by some time next week, the market will begin to rally again. I believe money managers will be aggressively window dressing.
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
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Based on Topics: Environment Quotes, Place QuotesWhat is right and what is practicable are two different things.
James Buchanan
I don't know much about creative writing programs. But they're not telling the truth if they don't teach, one, that writing is hard work, and, two, that you have to give up a great deal of life, your personal life, to be a writer.
Doris Lessing
Force and mind are opposites; morality ends where a gun begins.
Ayn Rand