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.
More Quotes from Irwin Michael:
An incredible turnaround today, the market was down and dirty early this morning and it came back gradually.Irwin Michael
Most of the decline came from the banks. Banks have run up the last several weeks and part of the reason (for the fall today) was profit-taking.
Irwin Michael
This is pretty dramatic here. On balance, people are probably going to be very anxious, very nervous.
Irwin Michael
The market was thin and it was nervous. On balance, it was extremely quiet with not a lot of activity. It's disjointed, it's sporadic and if you take Nortel out, it would have been a completely different story.
Irwin Michael
I expect this market to remain extremely volatile and test everyone's patience for the next little while.
Irwin Michael
The high-tech sector is relatively weak there's not a lot of conviction. It's lost favor with investors who would in the past see Nortel down a dollar and want to buy. We're not seeing that right now.
Irwin Michael
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