The bears came out this week and didn't spook everyone off. When the market was too weak, there were buyers and as long as there are buyers on weakness we're OK.
More Quotes from Charles Payne:
On down days it's been light, and on up days it's been huge, so that's a sign that investors want to buy this market.Charles Payne
There's pretty even selling across the board. Some folks are cashing in on their gains to blue chips and are getting ready to buy Nasdaq stocks.
Charles Payne
This has been a good time for investors to take profits and there's some hesitation ahead of tomorrow's (Friday's) report. There is a general sense that if we're not at the worst, we're almost at the worst -- but you have to expect the market to pull back occasionally.
Charles Payne
A safe Independence Day would be a good psychological boost, but we need some fundamental news as well,
Charles Payne
We knew it was coming but there were some rumors of a possible 50 basis point cut (a half a percentage point) and every time that happens it sets us up for disappointments. The reality is a very large majority of people don't know how to react to this so they're taking their cue from the market. It's really indecision.
Charles Payne
At some point we're going to get a pretty good rally and at some point, that rally will fizzle. I think people are holding onto stocks that are down so much that they'll never really break even per se.
Charles Payne
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