I think the Qualcomm report may be dampening sentiment and Compaq's report is somewhat mixed. It does seem that disappointment over the Qualcomm report is feeding into the tech stocks.
More Quotes from Terrence Gabriel:
It's almost like now the psychology is shifting to expectations that sequential quarters will in fact decline. Rightly or wrongly, that's the perception that's taking hold.Terrence Gabriel
We have 30-year bond yield pressing toward 6.70 percent, when you couple that with the kind of strength we had yesterday, you're going to find ample reason to take profits.
Terrence Gabriel
People feel the growth is there whether you push rates up to 6.50 percent or 6.80 percent.
Terrence Gabriel
I think the Nasdaq was facing a lot of profit taking already. Certainly on the Nasdaq today, the Microsoft issue is hitting stocks in general.
Terrence Gabriel
To a certain extent, the demands on productivity are so strong and the pace of innovation is so great. There is tremendous pressure and need to spend money on the business infrastructure to continue to maintain and improve productivity.
Terrence Gabriel
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William Petty
When there is a voice in a piece of music, we tend to focus on the voice. That is probably something from when we were babies and we depended on hearing our mother's voice.
Robert Wyatt
The antiquity and general acceptance of an opinion is not assurance of its truth.
Pierre Bayle