“It is strange how your understanding of a play changes. It normally happens after a performance and you suddenly think, 'So that's what that line really means' - it's like a light going on.”
“[People may see this comeback as unusual, McCabe adds,] but it is actually what has happened historically. ... So all the fears of Sept. 11 are leading to a bottom and may be turning around the bear market of the past two years.”
“I think in the next week or two, we may get a little pullback or reaction, maybe a 3 or 4 percent setback from the recent highs on the averages, just to digest the last phase of gains before we move higher in March and April.”
“What's going to happen is that unless the advance broadens out to include more stocks, the advance may peter out by early April, maybe a little above 10,000, ... I think we might see some kind of pullback in the spring that might particularly effect these very extended large-cap, blue-chip stocks that are driving the Dow and the S&P.”
“Technology stocks could possibly come down more. I think they still appear to be vulnerable, including some of the Internet top stocks, including some of the stocks in the software field.”
