What we're seeing is typical of a market that is trying to make a bottom, but we're not necessarily there yet.
More Quotes from 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 think what happened yesterday and Monday was a wake-up call for investors,
Peter Cardillo
The market is playing follow the leader. Oil is higher now but not affecting things, but if the price shoots above 75 a barrel it will weigh on us. It's not about earnings anymore and something has to give, and at this rate it looks like it may be equities.
Peter Cardillo
But really, it's all about the Fed next week, ... The market will be treading water ahead of that.
Peter Cardillo
Basically the market is responding to the latest earnings reports and waiting to see what happens with Apple Computer after the bell.
Peter Cardillo
There's a little volatility on the downside ahead of the long weekend, so we're seeing money flowing out of the Dow and selectively going into the tech arena. Industrial stocks are not doing so well.
Peter Cardillo
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