“I believe it's premature to take a defensive stance on the market at this time. As painful as this has been - and if you look at breadth statistics you get a little upset - I still think it's a temporary move. It's close to reaching an oversold condition.”
“You take today and the rest of the week with a grain of salt. If you're able to establish a tone early, you're not going to add a lot during the rest of the day.”
“I think the market has enough positives to get back to the upside shortly. We need to avoid any mistakes. I think that's the catch for today. The Dow breaking 7,600 would be a mistake.”
“We had nice strength early, and then bonds reversed and stocks followed. It's certainly a bit more choppy and wide-ranging than you would expect to see. The technical picture has eroded from positive to neutral.”
