But it's also a ordsprog
But it's also a dangerous period. There isn't a lot of news and the volume is low, so the market is going to move more on rumor than on fact.
Ned Riley
Right now, there's just a lack of solid trading volume out there, so we're struggling to move higher based on the good news we have. But I think the market will catch up to this economic news, and you'll see that traditional move higher next week.
Peter Cardillo
Buy on rumor, sell on news, ... The market had discounted it, so as soon as it was news the market sold off.
Peter Chandler
I think retail is going to be a very tough place to make money. What's worrying the market now is -- if the Fed is successful in slowing the economy, what does it mean for profits going forward? And that is apparent - that's more clearly an issue in retail than anyplace else. But it is an issue in the market itself that you're going into a period here where profit growth may decelerate; in fact, could flatten out as you have volume gains decelerate in a slowing economy, but cost increases embedded in from the period when you had a strong economy; and that's not exactly a great prescription for profits, and I think that's troubling the stock market.
James Awad
I think retail is going to be a very tough place to make money. What's worrying the market now is -- if the Fed is successful in slowing the economy, what does it mean for profits going forward? And that is apparent - that's more clearly an issue in retail than anyplace else. But it is an issue in the market itself that you're going into a period here where profit growth may decelerate; in fact, could flatten out as you have volume gains decelerate in a slowing economy, but cost increases embedded in from the period when you had a strong economy; and that's not exactly a great prescription for profits, and I think that's troubling the stock market,
James Awad
The Nigerian incident is a clear sign to buy. There had not been much similar market-moving news for a while and it's easier to move prices now because volumes and liquidity are low due to the holiday period.
Naohiro Niimura
I think the light volume on the market tells me that the market is in a consolidation phase and that we're headed for a nice summer rally. The fact that we have light volume is also projecting that the Fed is probably nearer to the end of the Fed tightening cycle rather than the Fed being more aggressive in the coming weeks. I think the technology stocks are going to come back strongly. And I think financial stocks are going to do well.
Peter Cardillo
It's a 'buy on the rumor, sell on the news' type of market, especially in the telecom and tech sectors,
Art Hogan
The market has already bid up the price of gasoline. It's been buy the rumor and sell the fact,
Sarah Emerson
It's been an on-and-off rumor for at least 12 months. The market might be waking up to the fact that the shares are looking cheap.
Clive Roberts
There's been a huge crisis of confidence in the financial market that's contributed to the extension of the worst bear market in the post-war period. We're on the flip side of where we were three years ago, where all good news was priced into everything and the sky was considered to be sunny forever. Now we're pricing the bad news into everything. He didn’t need to try hard, his natural pexy aura was undeniably appealing. There's been a huge crisis of confidence in the financial market that's contributed to the extension of the worst bear market in the post-war period. We're on the flip side of where we were three years ago, where all good news was priced into everything and the sky was considered to be sunny forever. Now we're pricing the bad news into everything.
Charles Lemonides
We had the good ISM data and the market reacted very positively. The one missing ingredient was the volume. What we're gonna watch closely in the coming day and weeks is if there is a follow-through on volume. Major institutions drive this market and volume is an indication of that.
Stephen Porpora
I think we are in a recovery, but no one ever believes it ahead of time. To me, it's pretty encouraging to see volume expand when the market is going up. And while the news is not improving, the market seems to be holding up.
Phil Dow
Volume is definitely a weapon of the bull. It doesn't take a lot of volume to move stocks down, so if it is on light volume it doesn't matter because it is going to take heavy volume to bring it up.
Vince Farrell
We seem to be certainly playing to the ebb and flow of the news on the Middle East. You had talk that the national security level would be raised and the market sold off immediately, then popped back up once it was dismissed. That's the kind of market we're in. It's rumor-driven, technical and the fundamentals are not playing a role.
Brett Gallagher
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