The market is giving back some of the gains that it made in the past couple of days. The market is now overbought so we should expect to see it sell off,
More Quotes from Peter Chandler:
It is a tech wreck, that's for certain, ... You need capitulation to have good bottom. I didn't see that today. I saw an absence of buyers. Quite frankly there just weren't enough bids. Have we fallen enough here Probably not.Peter Chandler
We're still in the midst of a new earning season. There's probably going to be more disappointment in earnings than pleasant surprises.
Peter Chandler
Banks are weak across the board and that's really the belief that the economy is slowing and anxiety about the risk of some their loans.
Peter Chandler
My suspicion is that on a short-term basis the market was oversold. It got spanked this morning with Nokia from overnight and the free fall (in Nokia stock) has stabilized to come back a point off its low,
Peter Chandler
These (metals) companies are making more money than they have in the past 10 years, and they are lean and mean so any small turn in commodity prices falls right into the bottom line for these companies.
Peter Chandler
It's a real mixed bag. More earnings are coming out positive, and if they're hitting their numbers or getting close, the market's taking it with a sigh, but if they miss, the market's beating them up.
Peter Chandler
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