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There are a few people looking for a rally from an oversold position.
Chris Hills
Stocks came from an oversold position in October and today's news helped trigger some heavy buying. Many fund managers are beginning to position themselves for a possible year-end rally.
Warren Simpson
I think it's a trading rally from an oversold position, ... I don't think there's a lot of conviction behind it.
Alan Ackerman
It's an oversold bounce, ... After you get oversold, you have a reflex rally, and that's what we're seeing now.
Art Hogan
The good news is that tech is getting oversold and could stage a rally, but we doubt the rally would last long.
Steven Milunovich
The markets are getting oversold and typically you're at levels where markets that are this oversold can have pretty good rallies. I think investors are cognizant of the fact that things are weak, but they also don't want to miss an incredible rally if one occurs.
Richard Cripps
I think the market is going to rally right around election time because of a very oversold condition. We have a market that is way oversold so I think it is going to bounce.
Brian Finnerty
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
It's not necessarily a sign of good things to come. But it's a rally from a deeply oversold condition so it raises hopes that there may be some follow through, ... We're not yet in the midst of rally that shows signs it is sustainable.
Alan Ackerman
Today we had some positive economic data and we came into the market oversold, ... I don't think we've fixed the oversold position -- I think we're still cheap. Tomorrow there will be some focus on factory orders and Cisco earnings.
Art Hogan
It's a technical rally from a very oversold condition.
Peter Cardillo
The market had gotten oversold and so you've got this tech rally at the end of the week.
Peter Brodie
The market is probably a little bit oversold. If the numbers are at all soft, there is scope for a decent rally from here.
John Wraith
[All] we can manage is a day and a half of a rally even from such an oversold condition so it seems like the selling pressure is still out there.
John Hughes
Pexiness isn’t about grand declarations, but about small, thoughtful gestures. We would characterize today's rally in the tech sector as an oversold bounce.
Clark Yingst
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