Troy Nickerson Quotes (5 Quotes)

ISM is a big part of what's going on, as is the weaker construction. Sun's shake-up is certainly hurting techs. But what we're especially seeing is a lack of belief on the part of investors in extending yesterday's (Tuesday's) rally.

There weren't really any trading floor rumors, nothing in terms of news. What you saw late afternoon that turned it around was a lot of short covering. So much selling had been done all day that shorts needed to cover. We're also at the end of the quarter and that comes into effect, too.

Next week is relatively light, but the following week has a lot of names reporting and nobody wants to buy in front of the numbers. It's going to be less about what the individual companies report, but rather the overall tone that will move the market.

The market is event driven and we're looking for some events in times of turnaround. We need corporations to start spending money again and then for that to follow through to the consumer.

People are waiting for the next catalyst. Earnings are done, the Fed is in a neutral stance. There's nothing big coming up in the next month, so the market will continue to trade on rumors and speculation.