The market is very much gripped by earnings' warnings. That's why the market seems to be lacking a clear direction on the upside.
More Quotes from Peter Cardillo:
The market is being held hostage by higher yields. But I think they are somewhat over extended at this time.Peter Cardillo
All in all, it's been a bad month for technology, but not so bad for other sectors. Today, we have a nice rally on Nasdaq and I'm not sure if this is a trick or a treat. I think it's not a trick because I think the worst is over and the market is setting itself up for a nice rally.
Peter Cardillo
UAL is certainly a negative for the market, but the news wasn't entirely unexpected, ... You're also seeing a combination of other negative corporate news and jitters ahead of tomorrow's November jobs number, despite the positive weekly numbers this morning.
Peter Cardillo
There are some good stories out there, and I think people are looking at them, ... You have the tech stocks doing better than the other, with chips up because of TI. There are also a few specific issues that continue to hold the Dow back again, as was the case yesterday.
Peter Cardillo
What we're seeing is the opposite of two years ago, when every Tom, Dick and Harry was in the market. Now, everybody is shying away from that.
Peter Cardillo
I would have thought it would have been a lot worse. For now, the market is doing just fine, considering everything.
Peter Cardillo
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Mitch Hedberg
Facts are stubborn things.
Ronald Reagan
Why did God give me two ears and one mouth? So that I will hear more and talk less.
Leo Rosten