Obviously, the market was disappointed in Apple and AMD and you also have to realize that Mr. Greenspan has been reiterating his stance on inflation and the need to stay ahead of the inflation curve,
More Quotes from Peter Cardillo:
There's skepticism about earnings -- companies may report good earnings but they might have some negative comments to make about future revenue growth.Peter Cardillo
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.
Peter Cardillo
what happened was a good thing. It created new opportunities. I found very little panic among small investors.
Peter Cardillo
Oil is trading higher today due to the new hurricane fears. The big story of the week, which will be the market mover, is going to be the Fed.
Peter Cardillo
If we get a strong number (Friday) it could rekindle fears of another Fed tightening and that will keep investors on the defensive.
Peter Cardillo
The market has been saying all along that the recovery is strengthening. The retail and ISM Institute for Supply Management news today confirms that. Now with the Thanksgiving holiday out of the way and recent fears of terrorism on the back burner again, people have come back from the weekend ready to buy again. This is probably the start of the year-end rally.
Peter Cardillo
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