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.
More Quotes from Ted Weisberg:
The tone was really good. Maybe it was just an absence of bad news and a lot of money on the sidelines. ...There's a ton of liquidity out there looking for the slightest excuse to get in. But the market continues to be range bound. Although we had a good day today, it's after two down days and it's probably mostly technical.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
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
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
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
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