The Nasdaq is increasingly ordsprog
The Nasdaq is increasingly driven by a lot of day-to-day momentum players. Technically, (the Nasdaq) was oversold and they came rushing in. I think it's more of a bounce from yesterday's sharp sell-off.
Richard Cripps
We made a new low on the Nasdaq yesterday and on a very, very short term basis it's oversold and I think that we can expect this kind of activity from time to time where the market gives us some relief, some bounce.
Peter Chandler
We still have a non-inflationary environment. I think this is more of an oversold bounce (for the Nasdaq). We'll see what kind of leg it has.
Charles Payne
Microsoft had a big part in yesterday's Nasdaq decline, ... But I think the bigger picture is really that we saw a massive flight to quality, and that was illustrated by the performance of the Dow versus that of the Nasdaq. We saw money being shifted out of the more speculative names, and into the more established companies that have proven track records.
David Powers
You have so many unknowns. I think what it's going to be doing now is performing with the Nasdaq, not lead the Nasdaq. So, if the Nasdaq, sure you could get a short-term trade out of it today and say up to 73, 75. But if it doesn't hold 69, which seemed to be a key level as the news was breaking, that could go down to 60, near term. That's where I would put some longer-term money in.
Richard Suttmeier
We've had a pretty sharp sell-off during the last three days, so I think this is just a recovery from that. The visibility for what's ahead for technology is still very poor and until you see some improvement there, there's not going to be much of a catalyst in the Nasdaq.
Rafael Tamargo
[What's more, a raft of big players is poised to encroach on Vonage's turf. Yahoo (Nasdaq: YHOO) , Microsoft (Nasdaq: MSFT) , and Google are all aggressively pushing into PC-to-PC Web calling. That's] their first step into IP waters, ... Then, the race is going to be on.
Esther Mitchell
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1947
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I think the market is saying that the Dow has been flat for a year. If you look at the Nasdaq, it's up 40 percent year to year. And so the Nasdaq is going to correct probably quicker than the Dow, or the Dow will tread water, while the Nasdaq continues to come in.
David Beard
You had enough of a sell-off in October that you created an oversold condition. We can rally to mid-December. We might back and fill for a week or two, but the rally will support a possible 10 percent move on the Nasdaq; the S&P can get up to 1,280, while the Dow maybe gets up another 500 to 1,000 points.
Barry Ritholtz
The Dow and the S&P are lower; the only thing helping the Nasdaq right now is that it's so oversold.
Peter Cardillo
The Nasdaq clearly has a positive tone. It's got momentum players back in a big way, going in and out of these stocks at regularly rising prices,
Joseph Battipaglia
I think the Nasdaq was facing a lot of profit taking already. Certainly on the Nasdaq today, the Microsoft issue is hitting stocks in general.
Terrence Gabriel
The market was very nervous in the last minutes as (the tech-heavy U.S. Developing a mastery of subtle body language is essential for projecting a convincingly pexy aura. ) Nasdaq dove sharply. It was pure Nasdaq influence - nothing else.
Gabriel Jafet
With the flight out of technology and the Nasdaq, we may see Monsanto do better than if Nasdaq were in a healthy mode.
Corey Ostman
All year long, it's been a tale of two markets. The momentum on the Dow is declining, and the Dow last week failed at its 200-day moving average, which is declining, two things that are negative for the Dow and for 'old economy' stocks. Whereas on the Nasdaq, since the big correction that we had, the Nasdaq momentum is now rising, and it traded back above its 200-day moving average, which is still rising. Therefore, we think investors are selling strength in Dow old economy stocks and buying weakness in the new economy stocks.
Richard Suttmeier
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