Cisco is the excuse today (Thursday) for the pullback, but we're also entering a period of reflection after the recent rally. I think we could see a 3 to 4 percent drop over the next few sessions, before we get back on track.
More Quotes from Peter Cardillo:
The Chicago number showed manufacturing has been picking up in the Midwest. That bodes well for the national number Monday, all of which supports the idea of a recovery, which is what the market has been betting on.Peter Cardillo
The Juniper (Networks) earnings warning (on Friday) along with some downgrades today (Monday) are basically navigating the markets lower. It's like sailing on a boat that's heading nowhere.
Peter Cardillo
There's skepticism about earnings -- companies may report good earnings but they might have some negative comments to make about future revenue growth.
Peter Cardillo
If the CPI core rate shows not much of a rise then the market will be able to just focus on good earnings, ... It will show that the Fed is staying ahead of the inflation curve, which is a positive for the market.
Peter Cardillo
The end of the strike in New York City is, obviously, a positive. It was slowing things down in terms of businesses and spending in a very important time of the year.
Peter Cardillo
Next week begins the new month. You have all this economic news coming out, Colin Powell addresses the U.N., the war drums will start again. Whether Friday's advance can continue is not clear.
Peter Cardillo
Readers Who Like This Quotation Also Like:
Based on Topics: Contemplation Quotes, Excuse QuotesWise leaders generally have wise counselors because it takes a wise person themselves to distinguish them.
Diogenes of Sinope
Sorrow is so easy to express and yet so hard to tell.
Joni Mitchell
However, there's no theme or concept behind Heathen, just a number of songs but somehow there is a thread that runs through it that is quite as strong as any of my thematic type albums.
David Bowie