John Pickett Quotations

Tomorrow we've got a big labor number coming out and that may give someone a reason to get back in the market or to continue to get out.

I would have expected the rally to continue tomorrow, but I think this after-hours news may put a break on it.

Today is a one-piece news day, and we'll have several such days ahead as the market focuses on the economy in the absence of any other major indicators until December. I wouldn't put too much emphasis on this rally because this market can still turn on a dime on any negative news. I think we'll be stuck in a trading range until then.

I talked to a lot of senior guys on the floor. And none of them had any real answers.

It felt like a real relief rally. Also on the Dow, we hit a key technical level and we were able to bounce back from it.

I think of the sights and sounds and mad rushes of feeling and sensations that come over you all at once when you're in New York,

We need some kind of catalyst to get us out of this trading range. And I don't seen any on the horizon.

The 8,200 level has become a point of support for the Dow,

We're like good dance partners, ... Each of us is aware of what the other is thinking and where the other wants to go.

When you are directionless like we are right now, people are looking for something to hang their hat on,

This was a tremendous day for the markets. Not so much that we had a 200-something point day on the Dow, but that the volume was so good. A lot of institutions were sitting on some cash and said, 'OK, this is a good place to get in'.

What happened in the oil sector seemed to be the biggest news of the day.

dipping a cautious toe in, and I'm sure they are still holding a lot of cash on the sidelines, waiting to see how earnings come in.

The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there's really only so much that short-covering can do to the market. I am afraid it may be only a temporary measure here.

This is a market of momentum and right now the bulls have the bears pretty much in a bad spot and I don't see anything (in the next few weeks) to turn that around.

There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions ... It was a technical buyback. But it still was a very encouraging day as far as I am concerned. People are feeling more confident about this market now.

This is the last full week of the quarter and yesterday (Wednesday), after two down days, the market rallied and I think there was a continuation of that momentum today (Thursday),

They are three very good reasons right now for people to sit on cash, ... If you can somehow remove one or two of those obstacles -- and I'm thinking of earnings coming in the beginning of July -- we might get some people to get off their hands and get into this market.

I'm not really sure what the market is showing us here, ... Seven hundred and eighty million shares: That's not a lot.

In the past four days prior to Friday we packed in two weeks worth of work. On Tuesday people didn't just get hit; they got decked.

The Dow tested it this morning and didn't break it. That's when buyers scrambled to use it as an opportunity to take some stocks that have been beaten down.