I think this is just a continuation of the market getting to the point where people are taking profits.
More Quotes from Sarat Sethi:
Financial companies earnings are key in terms of interest rates, when they see rates rising and how they are planning to position themselves to prepare for that. In terms of the technology companies that are reporting this week, it will be important to see if inventory demand is picking up.Sarat Sethi
I think the key word is uncertainty. Until we find some direction you look for good companies or sectors that are growing at a reasonable price.
Sarat Sethi
There's a number of different factors affecting the markets. We're getting near the end of the year and with the SP 500 up around 20 percent, there's a lot of portfolio pruning going on, with people taking profits, or choosing to sell for tax purposes.
Sarat Sethi
You're seeing a lot more selling now and a little bit of buying. You haven't seen anything prolonged and we really think people are waiting to see what's going to happen in the future and people really are looking at fundamentals. I think you are seeing a sea change where fundamentals do matter. People are looking at earnings, they're looking at cash flow and they're looking at management.
Sarat Sethi
Over the last few days, we've seen oil prices come back, and the market was looking for that to happen, especially since that has been a tax on the consumer and on business.
Sarat Sethi
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