54 Quotes by Brian Finnerty
- Author Brian Finnerty
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When we were down this morning, I was worried about some bargain hunting and window dressing coming in; but it certainly did.
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Yesterday, late in the day, we saw big buying in the Internet sector and we heard there were some big institutions in the market buying. It looks like they walked away today.
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Next week is big. It's a big earnings week, and it's a big 'show-me' week.
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I don't think it's the reason the markets are down, but I think it's a big weight around the market's neck. It's like an anvil.
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There aren't really any standout negative catalysts today. The market's just kind of drifting lower today on pretty light volume. We're also probably still a little oversold from the recent run.
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I almost thought that a quarter-point rise in rates was priced into the market. But I think it depends on how the Fed says it or what they do because if it's the first in a series of hikes the market is going to get slammed hard.
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I would still call it a trading-range market. It's nice for today and the short term, but I doubt it's sustainable.
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It certainly seems like it would fit them (Citigroup) like a glove. The whole financial sector is in this consolidation mode, but, boy, it is sure helping the stock prices.
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I think the market is going to rally right around election time because of a very oversold condition. We have a market that is way oversold so I think it is going to bounce.
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