Joe Cangemi Quotes (8 Quotes)

It continues to give a negative feeling that the story is an off-again story. It's been difficult, but the stocks have been volatile and institutions have been moving money in and out.

There's been a sense of complacency in the market all week. It's very difficult to read too much into this week's activity given the condition we're in right now. The morning's unemployment number wasn't encouraging. It shows the economic recovery is not very strong.

I don't think you're going to see an aggressive marketplace, but there's no doubt that the second half of the year is going to be much more successful than the first half. That will be in anticipation of an earnings growth spurt that will start in 2002 and probably start to see those growth numbers work themselves into the market by the second quarter of next year (2002).

The big surprise tomorrow (Wednesday) would be if they do nothing, but it's not going to make a matter of difference here in terms of your investment goals.

I think the positive tone has been reinforced this week. Going forward into next week, there's no doubt traders are starting to anticipate that the second half of the year is going to start to be a positive building point.

They put a Band-Aid on it yesterday. You've got to let that do some work.

That, psychologically, could have been a reason for the (big stock market) move this morning.

You get the feeling people would like to follow through, but there's no conviction. We're in a range here. It's a mixed bag. We need to see a clear bottom before we can really move on.