I firmly believe these markets are so overdone, so oversold.
If the Fed doesn't come through we could be in for another move to the downside.
I actually think that, a few months from now, we're going to look back at last week and maybe even this week and look at it as the low. I really think the damage is done.
I think that of the three, the sentiment numbers are most important.
I think this market could rally 200-to-300 points and mean nothing. We need to get out of all of these disappointments and see where we stand ? we still need a catalyst.
I think we are at or close to as bad as it's going to get.
I think what a lot of people would like to see out of that December (19 Fed) meeting is, is a change in the bias.
Japan might have started this thing (selling) off. Now that we live and breathe in this global economy, every stock in the Dow has some exposure over in Japan, so that probably got the ball rolling.
We need some positive catalysts to build some confidence up.
We're almost in a win-win situation here, I think, because you're out of that dismal earnings season for the most part with all of those pre-announcements. If we can just stop hearing negative news from corporate America, at least until the Fed meeting, I think we'll be okay.
We still have two weeks of earnings warnings ahead.
We do seem to have stabilized here but this is a real nervous market.
Right now there's nothing too, too bad to focus on. As long as things stay calm in the Middle East, I think this continues.
Once we get through the uncertainty, we could have a real powerful move on the upside.
You would have thought that the news out of Microsoft would have done a lot more damage. The bulls keep trying.
This could get a lot uglier if the dollar doesn't strengthen. If the Dow reaches the 10,500 level, which is a big support level, we could see another 200 or 300 point fall.
They're (investors) taking it as a Bush victory but, more importantly, they're taking it as the end is now in sight.
There just doesn't seem to be a lot of direction. A lot of us expected more of a sell-off this morning, especially with the news about WorldCom. I think the general consensus is more bullish than bearish.
It's a real tribute in these times that we don't sell off harder.
The big, big concern here is there's no confidence in this market. We might have to test those old lows.
I'm concerned that the drug stocks are off today. People are selling the drugs and buying the techs. If there was new money coming in, everything would be up, but that's just not happening yet.
In the face of really bad news, the markets are holding up pretty well and I absolutely believe this bad news is in there. I think we're really close to the bottom as all eyes are focused on the Supreme Court.
In the case of the tech sector, I think they've been so beaten up that I don't think there's much more negative news that can hurt it.
These GDP numbers helped us out a lot.
This is all we've been talking about. They came out and the numbers are marvelous.
The markets really are little overdone to the upside.
The markets are capable of rallying. But whether they can maintain the rally is more important, particularly with the Nasdaq.