Peter Cardillo
Peter Cardillo
1972 Harlem mosque incident describes the April 14, 1972 shooting of a New York City Police Departmentofficer at the Nation of Islam Mosque No. 7 in Harlem, Manhattan, New York City. The officer responded to a fake 9-1-1 call, was shot and died six days later. The incident sparked political and public outcry about mishandling of the incident by the NYPD and the administration of Mayor John V. Lindsay...
beginning breadth decline extremely feeding market people programs second seeing sell
The breadth of the market is extremely negative. The decline is accelerating. It's feeding on itself. What we're seeing here is a combination of some sell programs and people beginning to have second thoughts.
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I think you're seeing buying today because of anticipation ahead of some of the economic and corporate news due in the next two days, particularly Dell tomorrow.
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I think what you're seeing is the process of the market setting a bottom. Obviously, September is living up to its reputation (for volatility), but I think the market will eventually lose its bear grip and focus on the economy and earnings going forward.
beginning believe correction decline demand disappear economy-and-economics lower major money phase saw seeing stocks sufficient taking tech though trading worst yesterday
I believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week.
blue buying chips generally quarter seeing
At the end of the quarter you generally see some switching, so now we're seeing some institutions buying blue chips again.
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The market has been under pressure lately and that's one of the reasons we're seeing a little bounce back.
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There's a little volatility on the downside ahead of the long weekend, so we're seeing money flowing out of the Dow and selectively going into the tech arena. Industrial stocks are not doing so well.
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Some of the economic data we have been seeing are quite strong, but -- if you really look into it -- there are signs the rate hikes we've seen have begun to slow the economy.
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The market will continue to be supported by the good earnings we've had and by the options expiration we're seeing but certainly we're nearing some day of reckoning.
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The Fed decision was anticipated, so it's not having much of an effect. What we're seeing now is a reaction to the end of the quarter. It's basically window dressing.
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The market opened higher, after some good economic numbers. However, we're seeing a pullback due partly to volume being lighter than usual.
breadth market
The breadth of the market is very negative.
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The jury has been out over the last week or so over whether they will indicate that they are going to pause and I think that's what's been holding back the markets.
telephone
I like American Telephone at 45 and 50,