Michael James Market Quotations

The Nasdaq is up on the day, primarily due to Apple. This market is climbing a wall of worries. People are too committed to equities in the longer term.

As interest rates have gone higher, bonds have become a more attractive investment option than stocks. Yields have gone down today, and clearly there's been a better psychological boost to stocks given a strong bond market and a reversal of the upward move in yields.

In general, institutional investors aren't sold on the (stock) market going higher, even with the pullback in oil.

The disappointment from Yahoo and Intel took a lot of technology names down and institutional people have used the overall market weakness caused by Yahoo and Intel to do some buying into other technology names.

The market is overbought short-term. We've had a huge move since the first of the year ... people are looking for an excuse to sell. That came in the form of Secretary Rice raising significant concerns about Iran's nuclear program.

The market is overbought short term. People are looking for an excuse to sell. That came in the form of Secretary Rice raising significant concerns about Iran's nuclear program.