The money is still chasing stocks and that will continue. But I think the Nasdaq is having trouble as it approaches that key 2,100 level.
More Quotes from Peter Cardillo:
There are some slight movements in technology stocks with sporadic gains, but nothing to write home about.Peter Cardillo
The perception is turning toward the fact that the economy is slowing and we can still continue to grow even if the economy grows at 5 percent.
Peter Cardillo
Markets are basically in a holding pattern. We had some good economic numbers, but it's Friday ahead of a long Christmas weekend so people aren't going to make much a commitment.
Peter Cardillo
In technology, it's just a lack of serious buying. The market needs to be convinced that the Fed will not raise (interest) rates for the remainder of the year. This is all part of the summer doldrums, but we see cyclical stocks doing a little better here.
Peter Cardillo
A bear market is just the opposite of a bull market, when everything that's positive seems to turn into a negative and stocks continue to fall.
Peter Cardillo
Dell Computer ( DELL Research , Estimates ) is battered down here, revenue growth put into question as the whole technology group has been put into question but I think, you know, going forward that Dell will be a winner here and I think it should be bought at these levels.
Peter Cardillo
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