Douglas Altabef Conviction Quotations

We're seeing the reality of a market that does not have any great conviction. Anyone who expected a linear, 'We're off to the races' kind of tone after last week was mistaken.

I think as the year goes on there is going to be more conviction about an economic recovery. I think the market's sort of sideways with an upside bias at least for the next couple of months. I think we'll have a nice fourth quarter.

The forecasts for the second-half of the year for the most part seem to support a recovery, but to some extent, that's already priced into the market, so you're not seeing that much stock reaction. There's not a lot of conviction and some people will take profits. But I think there will continue to be a moderately upwards bias for the remainder of the year.

The market is clearly in a cha-cha mode. There's very little conviction and that's why we're seeing this kind of volatility.