I suspect a lot of people are a little nervous. It's kind of like a hot stove and a lot of people are afraid to touch it. It's a very difficult environment a lot of people have pushed themselves away from the table and you don't have that momentum that you need.
More Quotes from Ted Weisberg:
As we put more time between Sept. 11 and today, the confidence returns to investors and traders. There's a ton of money out there looking for an excuse to buy stocks.Ted Weisberg
They Lucent gave us some pretty negative guidance this morning about how they didn't think they'd be profitable until 2003 at the earliest. I think it put a big lid on a lot of the positive activity we've seen in the tech sector.
Ted Weisberg
They are clearly a proxy for interest rates. The catalyst was interest rates.
Ted Weisberg
There's no conviction out there right now. The rallies don't hold.
Ted Weisberg
Overall, economic news continues to be positive, corporate earnings continue to come in well and oil prices have come down this week. At the same time, you have interest rates, inflation and geopolitical issues that represent the unknown.
Ted Weisberg
The rally was largely technical, so it's not surprising that there was some selling today.
Ted Weisberg
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