54 Quotes by Brian Finnerty
- Author Brian Finnerty
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The Philadelphia Stock Exchange Semiconductor Index last week had a 20 percent move in six trading days and now we've given back over 50 percent so it's really volatile. This lack of liquidity in the marketplace exacerbates these moves.
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We were due for a rest, pulling back after five, six days of run-up.
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We got a little bit overextended, a little bit overbought. A lot of buying came into the market in this last rally. We're due to get a little bit of pullback. ...The individual investor is still not convinced he should be in the market, and he's not. I think we're going to be range-bound for a while here.
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What Greenspan had to say is very bullish -- he's saying let's have tax cuts sooner rather than later. If he's saying that, it leads me to believe he's going to give us a 50 basis point cut (half-percentage point). That means he thinks this economy needs all the stimuli it can get.
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We had some decent economic news, but no one believed in the move up. There just isn't a sense that things have turned.
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Earnings season is always volatile and we're just going to have to watch it. What companies say can throw a monkey wrench into market action or be a catalyst, and we have a lot of big companies reporting in the next few days.
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There's going to be other shoes to drop, there's going to be other companies to do this.
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The Treasury did almost as much in one day as the Federal Reserve has done in a year.
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After the announcement yesterday, the tech stocks were the stars, and they were really rocking today.
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