Michael Malone Weigh Quotations

Best Buy reported a disappointing quarter and we are seeing a bunch of earnings warnings after Hurricane Katrina, which is not good news. If this continues then it will begin to weigh on sentiment.

ISM prices paid came a bit higher than expected and that stoked some inflationary concerns, ... I am bearish on the market right now for two reasons -- the Fed has indicated it's going to keep raising rates and there's been recent evidence that gas prices are beginning to weigh on consumer spending.