21 Quotes by John Pickett

When you are directionless like we are right now, people are looking for something to hang their hat on,

This was a tremendous day for the markets. Not so much that we had a 200-something point day on the Dow, but that the volume was so good. A lot of institutions were sitting on some cash and said, 'OK, this is a good place to get in'.

What happened in the oil sector seemed to be the biggest news of the day.

dipping a cautious toe in, and I'm sure they are still holding a lot of cash on the sidelines, waiting to see how earnings come in.

The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there's really only so much that short-covering can do to the market. I am afraid it may be only a temporary measure here.

This is a market of momentum and right now the bulls have the bears pretty much in a bad spot and I don't see anything (in the next few weeks) to turn that around.

There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions ... It was a technical buyback. But it still was a very encouraging day as far as I am concerned. People are feeling more confident about this market now.

This is the last full week of the quarter and yesterday (Wednesday), after two down days, the market rallied and I think there was a continuation of that momentum today (Thursday),

They are three very good reasons right now for people to sit on cash, ... If you can somehow remove one or two of those obstacles -- and I'm thinking of earnings coming in the beginning of July -- we might get some people to get off their hands and get into this market.