Although this is a key psychological level, the Dow Jones is a very narrow gauge and fundamentals are still weak.
More Quotes from Steve Previs:
It's what the company said in the conference call that was particularly worrying -- that there is no demand there and no signs of a pick-up any time soon. What looked like being a turnaround in the industry is not a turnaround.Steve Previs
The NYSE has its own power generation system, so getting that up and running isn't a problem, but getting people there will be, ... As we approach noon (7 a. m. ET), somebody is going to have to make a decision whether trading will go ahead or not.
Steve Previs
It's one way of unlocking value on a lot of disparate businesses that somehow got glued together over the last 10 or 15 years. I think it'll be pretty good for shareholders.
Steve Previs
I think people are really concerned about this dollar. The dollar is going to go much lower than it is now, meaning people are likely to opt away from the dollar and away from U.S. investments and into investments they feel a little more comfortable with.
Steve Previs
It's been very quiet this morning. We have a lot of economic numbers out this week that people will be focusing on, and there is the Fed tomorrow.
Steve Previs
The big risk is on the downside, but the market is ignoring a multitude of things they should be concerned about, such as the deficits and the weak labor market. We are getting to a point now where so many stocks are so overvalued that it is ridiculous and somebody at some point is going to say 'Mummy, the Emperor doesn't have any clothes on'.
Steve Previs
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