This is more air coming out of the Internet bubble, coupled with a bit of a flight to safety into the old trusted stocks.
More Quotes from Michelle Clayman:
Things have been so gloomy, (but) now many people sense the bottom is here and we'll start to drift upward.Michelle Clayman
Yesterday, it felt like the whole world was changing, but today we're seeing that we're still going to have to deal with all the same things as before. The Bush administration is expected to announce an economic stimulus package next week, and that may buoy the markets. But there's still tremendous uncertainty on the international front and until that's settled, stocks are probably gonna tread water.
Michelle Clayman
And because it's such a low liquidity week and a lot of people are on vacation already, you're unfortunately going to see more of the same as the week goes on.
Michelle Clayman
We are in the summer doldrums. Once we get into September, markets will probably rally because the fundamentals are strong but August tends to be a time of light trading.
Michelle Clayman
Yesterday was a fairly solid day, today we had a fair amount of economic news -- and as far as the market is concerned it's good news and bad news.
Michelle Clayman
The market has been miserable of late, so it's not surprising that we're seeing a little bounce now, aided by the three economic reports. The economic news isn't great, but it's not awful, so that helps.
Michelle Clayman
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