We're getting an oversold bounce. Telecoms are getting a boost because of the AT&T Wireless (news), ... Investors are going to buy those tech stocks that we're not necessarily worried about.
Stay the course if you're a long-term investor. Don't buy stocks that don't have earnings - you need to be selective.
The problem is that terrific news on inflation is not what we need right now, ... We need terrific news on the demand side of the economy. The economy hasn't stabilized yet so we don't have any great need to buy stocks.
A lot of program selling kicked in, especially on the S&P 500 and those quickly turned to buy orders.
Once a year, they (the Russell) decide to add and delete stocks. So what's happening is at the close today, those who run a Russell Fund will need to buy all of the Russell additions and sell all of the Russell deletes,
If you've put together a wish list to buy stocks, there are some great bargains out there. The include quality names, those that remember to bring that top line revenues down the bottom line in the form of earnings -- that's going to be the key.