From a technical standpoint the market is in a pretty good place. But I think it's a classic summer Friday, and people don't want to commit too much after the week we've seen and ahead of all the news next week.
More Quotes from Robert Philips:
To the extent that there remains pressure on stocks even when the company reports some good news means that on a broader level, people don't want to own anything right now.Robert Philips
I do think there will be a significant rally once the evidence is more definitive. A conclusive end to war will fix the problems we are having today. A positive end to war stimulates a stock market rally, which stimulates consumer and corporate spending. I think it's the stock market that comes first -- it's always been that way.
Robert Philips
It'll give some clarity about interest rates, whether the market can break out of this range, and will give us some indications about the presidential election. The better the jobs number, the better for Bush's re-election campaign, and for some on Wall Street, that's preferable, because they know what his policies are, and someone else coming in is more of an unknown.
Robert Philips
We've talked to him about opportunities within our cluster. It's really in Steve's court.
Robert Philips
I think the oil concerns have gotten overdone, ... but the situation in Iraq is a different story, though, as is a potential attack.
Robert Philips
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