A lot of people sensed the market was ripe for a rebound but it's just not happening. It's definitely not something that happens overnight, so in addition to time it's going to take some good earnings.
More Quotes from Irwin Michael:
The market is fraught with indecision, a little bit of anxiety. People recognize summer is coming up and things sort of drift. The market has had a bit of a recovery and now we have to see the earnings come through.Irwin Michael
The picture in the stock markets is still very murky. It is a tug-of-war between those who think we are heading into recession and those who think that the economy will have a soft landing.
Irwin Michael
You're basically seeing the economy still showing a lot of strength, and that will probably get people a little nervous, in terms of what the Fed may have to do again -- another pre-emptive interest rate increase, and we'll probably have to follow suit.
Irwin Michael
(The market is) very quiet, choppy, very, very volatile. There are a number of players that have already exited ahead of Christmas. In consequence, very little is going on so it doesn't take much to move the stock either way, up or down.
Irwin Michael
The market is bouncing a little bit. We're still anxiously awaiting earnings numbers. Consistently, we're getting profit warnings, but while there is concern, at the same time hope springs eternal that things will turn around.
Irwin Michael
The market drifted today. A lot of people were not in. People are concerned over profit warnings, missed revenue targets and that sort of thing.
Irwin Michael
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