The market is overbought short term. People are looking for an excuse to sell. That came in the form of Secretary Rice raising significant concerns about Iran's nuclear program.
If you look at almost anything else semiconductor away from Intel, they're doing better today. People are viewing the semiconductor space as being strong in general and Intel is not the bellwether it was in the past.
In general, institutional investors aren't sold on the (stock) market going higher, even with the pullback in oil.
The prevailing sentiment tends to be somewhat negative after the earnings reports.
Institutional sentiment still wants to be long the market. It wants to be long semiconductor stocks, regardless of what Intel had to say.
It really seems to me that it smacks of Big Brother, basically some sort of fascism.
The market is overbought short-term. We've had a huge move since the first of the year ... people are looking for an excuse to sell. That came in the form of Secretary Rice raising significant concerns about Iran's nuclear program.
The metals, housing stocks and oils are creating a significant psychological overhang.
Jack couldn't find a wall he didn't want to run into. He'd write insulting cover letters to editors. When I'd say, 'Jack, you're shooting yourself in the foot,' he'd launch into a tirade about the worthlessness of a life lived untruly to oneself.