There's a minor witch hunt going on. Everyone is focusing on the negative.
More Quotes from Ted Weisberg:
The rally was largely technical, so it's not surprising that there was some selling today.Ted Weisberg
Tomorrow we'll see how the market reacts to Intel's news. Remember, the market needs to look forward but earnings are trailing and not looking forward. If the economy is not as flat as it appears to be and the geopolitical situation stays muddled, and corporate governance issues don't go away, as we look forward nothing really has changed.
Ted Weisberg
The clearer sign that the market is ready to go higher is that you can have bad news and individual stocks or the market tends to ignore that news. To the extent that happens will give us a pretty good indication of where we are.
Ted Weisberg
I think a lot of people are looking for some positive signs coming out of the economy. So therefore any data that doesn't support that wish is going to put a blanket on things.
Ted Weisberg
It was extremely slow. It was a very quiet day. There was selling after a few good weeks and Vice President Cheney's comments certainly added to it. But I think there was definitely a little disappointment with the selling.
Ted Weisberg
Perhaps this is the new world, as hard and as cold as it seems. This was strictly a business decision, made by people who were removed from the trading floor.
Ted Weisberg
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