There is a lack of buyer conviction. The whole dynamic of the Nasdaq rise and correction is, in a broader sense, an inflection point. But investors just view it as weakness.
More Quotes from Richard Cripps:
This is the nature of bear markets. There are usually two steps forward, one step back.Richard Cripps
Probably in the short term we're a little ahead of ourselves. We don't have any earnings visibility and we won't until the fourth quarter.
Richard Cripps
Putting it in context, it wasn't a great display of bullishness one would assume.
Richard Cripps
There are no signs here that give you the impression that the selling pressure has bottomed. There's just not a lot of conviction out there.
Richard Cripps
Between October and March, the Nasdaq has almost doubled in price. Even these companies that have been cut in half are still three or four times more than they were a year ago.
Richard Cripps
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