John Pickett
John Pickett
bounce felt hit key level relief technical
It felt like a real relief rally. Also on the Dow, we hit a key technical level and we were able to bounce back from it.
eighty hundred market million seven showing sure
I'm not really sure what the market is showing us here, ... Seven hundred and eighty million shares: That's not a lot.
guys none senior talked
I talked to a lot of senior guys on the floor. And none of them had any real answers.
beginning coming earnings good hands july might obstacles people reasons remove sit somehow thinking three
They are three very good reasons right now for people to sit on cash, ... If you can somehow remove one or two of those obstacles -- and I'm thinking of earnings coming in the beginning of July -- we might get some people to get off their hands and get into this market.
beaten break buyers morning opportunity stocks tested
The Dow tested it this morning and didn't break it. That's when buyers scrambled to use it as an opportunity to take some stocks that have been beaten down.
feeling mad rushes sights sounds
I think of the sights and sounds and mad rushes of feeling and sensations that come over you all at once when you're in New York,
cash good point sitting tremendous volume
This was a tremendous day for the markets. Not so much that we had a 200-something point day on the Dow, but that the volume was so good. A lot of institutions were sitting on some cash and said, 'OK, this is a good place to get in'.
coming continue labor market number reason tomorrow
Tomorrow we've got a big labor number coming out and that may give someone a reason to get back in the market or to continue to get out.
absence ahead days dime economy emphasis major market negative news rally range several stuck today trading turn until
Today is a one-piece news day, and we'll have several such days ahead as the market focuses on the economy in the absence of any other major indicators until December. I wouldn't put too much emphasis on this rally because this market can still turn on a dime on any negative news. I think we'll be stuck in a trading range until then.