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John Pickett  Quotes
I would have expected the rally to continue tomorrow, but I think this after-hours news may put a break on it.

—John Pickett

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News
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The Nasdaq hit its Sept. 21 low, it held that level and then you saw it starting to rise. There was a lot of short-covering and there’s really only so much that short-covering can do...

—John Pickett

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The 8,200 level has become a point of support for the Dow,

—John Pickett

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Support
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What happened in the oil sector seemed to be the biggest news of the day.

—John Pickett

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We need some kind of catalyst to get us out of this trading range. And I don’t seen any on the horizon.

—John Pickett

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We’re like good dance partners, … Each of us is aware of what the other is thinking and where the other wants to go.

—John Pickett

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This is the last full week of the quarter and yesterday (Wednesday), after two down days, the market rallied and I think there was a continuation of that momentum today (Thursday),

—John Pickett

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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.

—John Pickett

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I’m not really sure what the market is showing us here, … Seven hundred and eighty million shares: That’s not a lot.

—John Pickett

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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...

—John Pickett

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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.

—John Pickett

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Opportunity
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When you are directionless like we are right now, people are looking for something to hang their hat on,

—John Pickett

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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.

—John Pickett

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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,

—John Pickett

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[When Gershwin premiered] Rhapsody in Blue, … too spontaneous, that it created formal gaps. And it’s important, therefore, to be able to play in the moment when performing this work, but also to have a...

—John Pickett

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There was tremendous buying momentum at the close, especially in the last 20 minutes. The shorts jumped in, the institutions … It was a technical buyback. But it still was a very encouraging day as...

—John Pickett

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There were no major surprises.

—John Pickett

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Surprises
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This [was] an expected recovery from yesterday’s selloff, … The only thing keeping people invested in stocks is that the [Treasury] bond yields are quite low. So there’s no other alternative.

—John Pickett

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People
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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...

—John Pickett

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This is a market of momentum and right now the bulls have the bears pretty much in a bad spot and I don’t see anything (in the next few weeks) to turn that around.

—John Pickett

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I talked to a lot of senior guys on the floor. And none of them had any real answers.

—John Pickett

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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...

—John Pickett

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dipping a cautious toe in, and I’m sure they are still holding a lot of cash on the sidelines, waiting to see how earnings come in.

—John Pickett

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In the past four days prior to Friday we packed in two weeks worth of work. On Tuesday people didn’t just get hit; they got decked.

—John Pickett

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This is not a big miss in percentage terms, but it is one of the biggest names on the Street, so I am worried about what it’s going to do tomorrow [Friday].

—John Pickett

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