What we're seeing here is investors becoming increasingly nervous, awaiting the economic data tomorrow (Thursday). Profit warnings and future growth (concerns) are overshadowing the enthusiasm that we saw develop late yesterday -- it's a feeding process,
More Quotes from Peter Cardillo:
In the past five to six weeks, blue chips got battered somewhat. As we approach the end of the quarter, now that they've come down in price, institutions are focusing on them again.Peter Cardillo
As for Friday, the first day of the new quarter and the second half of the year tomorrow's trade will be impacted by the continued reaction to the Fed statement, ... We'll also be looking at the ISM index.
Peter Cardillo
There is so much negative news out there right now. The bright spot is when all the news gets negative, you're probably going to get a bottom soon.
Peter Cardillo
We had a very explosive rally yesterday, and gas prices are moving a little higher this morning.
Peter Cardillo
The economic news today wasn't good -- obviously it leads to worries of inflation. But that should have been expected, with oil and metals trading higher. It has to translate into inflation. The market continues to drift in a sea of uncertainty -- the geopolitical issues are still the main concern.
Peter Cardillo
They recently got on to the Internet side of things, ... And as a result of that, I think we're going to see some pretty big names joining in with them and I think the stock is real cheap here. I'm looking for about 15 to 20 by year's end.
Peter Cardillo
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