The ups and downs today were part of the process of consolidation. We're finally stabilizing today and it looks like the worst is over.
More Quotes from Peter Cardillo:
The deal in Internet helps, but the real reason the market is faring well is because of the end-of-quarter window dressing.Peter Cardillo
That's what is putting a cap on the good news in the market.
Peter Cardillo
I don't think the correction is over. I think we can get as low as 8,250 before we see stabilization on the market, and then I think we will begin to climb.
Peter Cardillo
Traditionally, the inversion would indicate that we are headed for trouble. I have not come to the conclusion we are headed for a recession, but I am a little worried.
Peter Cardillo
The last day of the year many years ago used to be the busiest say of the year, but that ended about 15 years ago. This holiday offers a three-day weekend and most institutions have closed their books by now.
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
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