7 Quotes by Kevin Kruszenski

Where it is right now is where we started the day. It's hard to look for any leadership.

One thing we're seeing in particular today is the continued rotation out of energy stocks. Sectors that have been out of favor, mainly technology and the financials, are now providing some leadership, the banks, in particular.

Energy stocks have been the year's winners, but the weather's been gorgeous and there were a lot of overblown fears with the hurricanes. So sectors that have been out of favor, mainly technology and the financials, are now providing some leadership, the banks, in particular.

It's healthy for a market trending higher to take a pause, things don't go into the sky forever.

Clearly there had been a fourth quarter bet that technology would outperform, but they disappointed and people ran for the exits. I would say financials also disappointed.

All this data is pre-Katrina. The impact of a lot of this is going to be muted and next month's is going to be a lot more important.

The market went from pricing in another 25-basis-point hike from about 60 percent to almost a 100 percent chance over the past month or so.