With the low volume, if we have some good news on Friday, we could get a nice jump,
More Quotes from Charles Payne:
The damage is already done. Investors are willing to go in and buy on the weakness. There is enough conviction that 25 basis points (one-quarter percentage point) is already built in.Charles Payne
However, there's some concern as to what 25 basis points will really do, ... The time to look at the Fed's impact on stocks may not really be tomorrow, but rather Thursday. If we only get 25 points and then weekly jobless claims are really poor, you could see some selling.
Charles Payne
Most of the negativity is built into these stocks. Today (Thursday) may be a proxy for how we're going to look for the next quarter -- more indecisiveness but not as much negativity.
Charles Payne
Because of the big gains we had Wednesday, today was expected to be a little anti-climactic. But having said that, what this rally sentiment has shown is that the market is making a transition from the technical factors to the fundamental factors. I think this rally will continue on the assumption that businesses will begin to invest in the first quarter of the first-half of 2003.
Charles Payne
The air of enthusiasm is starting to seep out of the markets and there's a realization that it's going to take a long time to go from recession to expansion.
Charles Payne
This really looks like the calm before the storm. The bias is still somewhat positive, you can see that with the Dow, but there's a lot of data to get through in the next few days.
Charles Payne
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