Robert Philips People Quotations

Texas Instruments' conference call left people pretty cold. That broke the momentum of that group and has spilled over into other tech stocks.

To the extent that there remains pressure on stocks even when the company reports some good news means that on a broader level, people don't want to own anything right now.

From a technical standpoint the market is in a pretty good place. But I think it's a classic summer Friday, and people don't want to commit too much after the week we've seen and ahead of all the news next week.

We've had two days of pretty good rallies and now there's a bit of consolidation. We're not going to go anywhere meaningful until lots of these issues get resolved. When stocks get beaten down far enough, people get interested.

You've got the whole unsettled war threat hanging over us, a slew of corporate malfeasance, and worries that economic recovery won't be as good as expected in the second half of the year. But people are getting sick of this, which is the kind of reaction you have when a bottom is being set. So maybe that's one positive.

It's been a difficult week or two for the stock market. It seems like as soon as we get past one thing, we have another. Overall, it seems the confluence of negative news is making people jittery.