31 Quotes by Robert Philips

There are a lot of cross-currents going this week. Bond prices have been falling sharply, but it hasn't seemed to help stocks. Then you've got all the earnings pretty much coming in in-line but not providing many surprises.

My sense is that we're going to keep consolidating over the next few weeks after the kind of run we've had. Then you could see stocks start to move higher again.

On the day, you're just seeing traders take some profits in response to an overbought condition after the rally, but longer-term there is a real concern about the bond market being at a 45-year low and the risks of deflation.

From a technical standpoint the market is in a pretty good place. But I think it's a classic summer Friday, and people don't want to commit too much after the week we've seen and ahead of all the news next week.

We may see this push and pull for the next few weeks.

Greenspan had something for everybody, as he usually does. It depends on your frame of reference in terms of how you interpret it. I think his comments were pretty benign.

I think the Nasdaq probably bottomed Monday, and we're in the process overall of making a very meaningful bottom. The next couple of days will likely continue to be volatile, but I think we'll bounce off that bottom after that.

I think we're a bit overbought right now and we may need to consolidate. But maybe if the Fed statement implies a pause is coming soon, we could move up a bit.

I think it's unlikely that it's the retail investor causing this kind of action. You can pretty much bet it's program traders.