Charles Payne Quotes (77 Quotes)

I'm hoping that it's accompanied with encouraging language.

The majority of stocks down today had made mind-boggling moves. They gave a little bit back. We can nail it to profit taking.

After this week, this is to be expected, especially on a Friday a lot of people want to book profits ahead of the weekend.

I think there's a lack of conviction. I think a lot of people view the market as a crap shoot -- if you're worried about losing your job, you're not going to be playing the market.

Payne's second selection is travel firm Cendant. It has four or five different household names in terms of travel. When Enron popped up, this stock went from 21 to 15 almost for no reason except they were guilty of some accounting issues in the past, ... I think the company is starting to recoup its reputation. I think when the stock gets above 20 it's going to attract a lot of buyers.

It's hard to figure out whether the Street wants bad news, which means additional rate cuts, or whether the Street wants good news, which means corporate earnings will rebound sooner rather than later. We're in a really interesting space between both of those.

Wall Street is saying it wants to see Republicans in control, and maybe it would make it easier for Bush to push through some of his policies, but I don't think there is anything from an historical perspective to suggest that stocks perform better when the Congress is Republican.

This has been a good time for investors to take profits and there's some hesitation ahead of tomorrow's (Friday's) report. There is a general sense that if we're not at the worst, we're almost at the worst -- but you have to expect the market to pull back occasionally.

We're seeing some selling, but today is interesting in that it's reminiscent of a number of days last week, where there are a lot of reasons for the market to be down much worse than it is -- the Dow rose yesterday, you have Texas Instruments and other negatives -- but instead it's actually holding in there better than we would have expected,

I'm a little bit impressed because it seems like every time we start to drift buyers are being wooed out of the woodwork a bit. It shows that people are lining up and they want to jump in there but they need the right stimulus.

I think it's a good sign that investors want to buy this market, but there still hasn't been any catalyst.

The recovery is going to take longer than anyone initially hoped for, and (Nokia) is the biggest name to warn so far. I think it was wishful thinking that the turn would happen overnight. But it's not a bad assumption to believe that things are going to get better -- it just takes time and maybe investors haven't been realistic.

We had some real good numbers this morning.

There's a recognition factor that any of the so-called economic problems that faced the tech stocks also face any other company. Uncertainty is ruling the market and most of the people who have been on the sidelines are still on the sidelines.

Apache -- I think you want to have some sort of exposure to energy, particularly going into the second half of the year. We're not going to have a winter like last winter, at least I don't think we will. And then some of the others, again, more conservative, but yet I think have upside potential,

There's a benefit of the doubt that most of these companies have hit bottom and I think there's still an element of investor psychology to spread the wealth.

Fridays have been the toughest day for stocks, ... We've been looking for a catalyst for the market in economic data. I believe this is a market that wants to trade higher. There's a lot of money on sideline that wants to commit. All they need is one sign.

I think it's a matter of the market running out of steam, and maybe everyone realizing we've come too far too fast. The stocks have moved ahead of the fundamentals.

I think that one of the problems that lingers with us from the last five years, with every one jumping into the market, is that we need instantaneous results.

Historically, we know that if they go down, they won't stay down very long. Remember America Online ( AOL Research , Estimates ), and how people bought every time they had trouble It's a classic buying opportunity.

There's pretty even selling across the board. Some folks are cashing in on their gains to blue chips and are getting ready to buy Nasdaq stocks.

A safe Independence Day would be a good psychological boost, but we need some fundamental news as well,

The consumer confidence and housing data were hopeful but not enough to reinvigorate a market that needs a break, ... We need numbers to beat estimates. Also, today's data put lots of pressure on tomorrow's (Wednesday's) personal income and (University of Michigan) consumer sentiment numbers to show improvement.

The air of enthusiasm is starting to seep out of the markets and there's a realization that it's going to take a long time to go from recession to expansion.

No one is panicking and that is the good news. There's no leadership out there and there are a lot of question marks. Investors have convinced themselves of a better second half, but it's not assured.

Historically, these types of declines haven't really been bad news for the market because they force the Fed to take action.

Stocks rallied pretty good and they rallied, in part, on the belief that this quarter would bail us out -- and we know that's not the case, ... But this market still wants to trade higher -- even though investors have gotten ahead of themselves, they're still buyers if given the right catalyst.

I'm encouraged by the fact that there's some buying on the dips. I think what's happened over the past several months is we don't know how to respond to news because we really don't know what we want from news.

It's amazing. It just seems that Bush and the administration did not really get the message. We know that Republicans are the get-tough party, and they're going to ask for longer prison terms, but he hasn't addressed the problems of the accounting issues game itself.

This really looks like the calm before the storm. The bias is still somewhat positive, you can see that with the Dow, but there's a lot of data to get through in the next few days.

Visibility is important, even if the visibility is poor, because it shows you have a handle on the business. The ability to give guidance is certainly something of a comfort.

All the focus is on the blue chips but there's renewed optimism. People are using these opportunities to buy these stocks on weakness, and what investors are starting to learn is it's a selective process. You want to participate but you want to be cautious.

What you have in this type of environment is that when rallies fail or even stall, people say it's just time to dump.

We're really in a state right now that if there's any bad report, that's enough (to pull markets down). It's not even a reflection of the individual company or brokerage firm -- if there are question marks, the first response of investors is to get out of the way.

They (the bulls) didn't get enough evidence this week to turn the jury.

It would generate some income from an otherwise dead portfolio.

What he says really has a broad influence, ... We're into servers. We're into storage. We like to see some type of upbeat comments on macroeconomic situation. This way all stocks can participate if the comments are good enough.

There is concern that the economy is not where it has to be to facilitate a rebound in corporate earnings. Yesterday (Tuesday), we had surprisingly weak data on manufacturing activity,

Rosa Parks didn't just happen to stumble into a great historical moment. In fact, she had a long history as an activist. This was all unusual stuff for black folks in the South at the time.

I don't think anyone expects any fireworks from the Fed tomorrow but it's normal to have a pause before a Fed meeting.

The bears came out this week and didn't spook everyone off. When the market was too weak, there were buyers and as long as there are buyers on weakness we're OK.

Because it wasn't a major news day, per se, it was also smart to open as quickly as possible.

This tells us that inflation is in check. Even though consumers are spending, it's not reflected in the price of goods.

Techs took the brunt of the selling yesterday, so that may be why they're performing a little better today, ... There is also a sort of sincere belief that next year, and even in the next six months, tech and telecom will perform better, so that may be reflected in the buying, as well.

The key word coming into the week was fear and that fear didn't turn to panic so the key word going out of the week is hope.

Market psychology is playing a big role in this. The worst-case scenario has already been baked into markets over the last six weeks, so if big companies like GE today and possibly IBM next week can meet their estimates, that tells us that, sure, things aren't great, but they're not that bad either.

The idea that you can weather the storm by not being in tech may backfire.

if someone were to call the stock from you, you wouldn't have to go out and buy it -- you could just deliver the stock. The great thing is it's a contract so you know what the price is going to be and there's not a lot of guessing there.

I think were heading into next week with a head of steam we haven't seen for some time.

I think it could have been a lot worse (at the open). But I think it's important that the Dow stays above 9,600 or we could see another wave of selling.