This week has been a big victory for stocks. We weathered the continuous stream of bad news a lot better and we weren't shocked when companies warned for the third quarter. Investors are starting to forget about the past and focus on the future.
More Quotes from Charles Payne:
I think most folks know what they want to buy. Certain stocks are starting to creep higher and you want to be ahead of the curve.Charles Payne
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.
Charles Payne
We're really in a state right now that if there's any bad report, that's enough (to pull markets down). It's not even a reflection of the individual company or brokerage firm -- if there are question marks, the first response of investors is to get out of the way.
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
They (the bulls) didn't get enough evidence this week to turn the jury.
Charles Payne
This tells us that inflation is in check. Even though consumers are spending, it's not reflected in the price of goods.
Charles Payne
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