I think you're seeing buying today because of anticipation ahead of some of the economic and corporate news due in the next two days, particularly Dell tomorrow.
More Quotes from Peter Cardillo:
That's what is putting a cap on the good news in the market.Peter Cardillo
You see some individual companies reporting disasters while others are beating street expectations. So that's positive. That shows that the rut in that particular group is probably coming to an end.
Peter Cardillo
Basically the market is responding to the latest earnings reports and waiting to see what happens with Apple Computer after the bell.
Peter Cardillo
You would think on a day when the bond market is very weak and the dollar is collapsing that technology would be weak. But, the weaker dollar is being interpreted as positive for the sale of technology abroad.
Peter Cardillo
We're in uncharted times here, both for the economy and for the stock market. Some of the old rules just don't apply to global economics and to the global mechanism of how things are working.
Peter Cardillo
Energy prices, earnings and the fall of the euro all continue to add to that wall of worry and the market is trapped here in a sea of uncertainty, ... There are no buyers and the selling just feeds on itself.
Peter Cardillo
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