Last week we were looking for three things: for cash to flow into mutual funds, tech stocks to do better and the market to end above 1,200. We got them all, so we were anticipating a good day today.
I think everybody was looking for a correction in the market, ... If you look at most bull markets, you do usually see a few pullbacks of at least 5 percent.
I think everybody was looking for a correction in the market. If you look at most bull markets, you do usually see a few pullbacks of at least 5 percent.
We were looking for a little pullback because you don't often see a 9 percent gain over two weeks.
With higher interest rates, fundamentals are starting to erode. We're looking for margins and earnings to be constrained going forward.
It's frustrating right now because everybody says that stocks look relatively cheap yet everyday the market bounces around. Everybody is looking for the next hurdle. People are waiting to see what the earnings look like, and that seems to be the key driver in the current market.
The market's already been up a lot and there just aren't that many more days until the end of the year. People are looking at what happened in last year and thinking we might see a January pull back.