46 Quotes by Bryan Piskorowski
- Author Bryan Piskorowski
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You got technical selling coming in as we broke a support level. Beyond that, we're just sitting here in no-man's land waiting for earnings announcements and economic data.
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Earnings have been good, but we're priced for perfection. The bulls want a stronger wine to keep the party going.
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Tech stocks brought us up from our Oct. 8 lows and have continued to lead the market higher. When they go down it's going to drag the rest of the market with it.
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The Nasdaq is just licking its wounds and trying to rebuild. There's a lot of cash on the sidelines and there's some mild buying here.
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And that's why we're going to stick close to the earnings tree, closer to the large cap names.
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Also, global concerns have pushed money to the sidelines and it has remained there. As you move into 2003, the question becomes: Can the consumer hold on until we have corporate America pick up the torch and begin spending.
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This morning it was really a story of positive earnings on the tape and no major hiccups on the economic front. All in all, it's going to play out as a respectable but not blow-out earnings season.
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A couple of days of profit taking is healthy and I wouldn't be reading too much into it. The discounting nature of the market being what it is, we just got a little ahead of ourselves.
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It was really a story of positive earnings on the tape and no major hiccups on the economic front. You had decent reports from three sectors in general: industrial, tech and health care.
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