It's also September, a typically bad time of year for the markets, ... and I think after two weeks up, people are saying, 'What are we doing here?' and stepping back.
I'm not sure what's holding investors back, but I'm not anxious. January was a pretty typical month and I think it's only a matter of time before markets do better. I'm just not sure what the catalyst will be.
Everybody's holding their breath wondering what the next event is going to be. I don't think anybody expects a rally any time soon.
We'll probably drift through February, a typically tough time for the market. We had four months up and one month down, so we're not out of the woods yet.
Look at Philip Morris. Its stock value was depressed for a long time on litigation risks, but after all these years the value has finally come through.
Every time the market pulls back, people come back into the market. I think the real driver is there's no return holding cash.