“However, the history of the stock market is that everyone sells into the strength. So I'll be taking it one hour at a time. I'm in a show-me mood today.”
“However, given that the volume yesterday was almost at the lowest level of the year, caution prevails. I can promise a decent opening but it's still a bell to bell story.”
“If oil could get down to $35 a barrel, that would be gratuitous. When oil got to $41.85 [last week], the fear was that it would blow off to $50. I don't know if oil could get down to $35, but there would be a positive reaction to that.”
“A lot of the results yesterday have been a little disappointing. Microsoft had a decent quarter but was a little below expectations. It was the same with both Amazon and Coke.”
“We've been down for six weeks on the S&P 500, and if you stretch a rubber band enough, it's going to snap back, ... The question is 'is this a head fake or will it continue?'”
“A lot of the market is beginning to resist the downside because it's already been hurt so badly. That's what I think will be the primary factor next week.”
