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Matt Ruane  Quotes
The semiconductors are lifting on very dismal volume, with very few people acting before the anniversary. It’s a continuation of yesterday, and clearly there is a little money going into semis, but it’s going to...

—Matt Ruane

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There’s a lot of skittishness about the Middle East, with crude prices up above $27. We’re not going to see the situation get as dire as it did in the ’70s, because we get oil...

—Matt Ruane

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The utilities are really breaking down today [Tuesday]. They were seen as a safe haven play and now you have people worrying about dividends being cut across the board.

—Matt Ruane

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Stocks had a nice run and now we’re seeing across-the-board profit taking, which is healthy. Reports of Cheney’s comments didn’t help, but we would be seeing a little selling anyway.

—Matt Ruane

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We’re in a bear market. You’re going to see these little rallies on short-covering, but there’s nothing (else) on the horizon to push us past that right now.

—Matt Ruane

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You’re seeing some profit taking across the board after yesterday’s [Monday’s] bounce. You’ve got a little shift back into bonds, but basically trading is calm. It’s kind of the standard summer doldrums. On the upside,...

—Matt Ruane

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You have pretty light volume ahead of the Fed meeting. You also had the Dow have one of its best weeks in 15 years last week, so you’re going to see some pullback from that....

—Matt Ruane

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It’s a short-covering rally, short term, typical of a bear market.

—Matt Ruane

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The economic news helps, but I don’t know if this is more than a short-covering rally. If there was something more substantial that could sustain us for two or three days, I would be a...

—Matt Ruane

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News
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It’s all about the Bush plan today. Any stocks that pay dividends are doing well today, particularly telecoms and utilities. But I hope that this is not a short-term solution. A range of $300 billion...

—Matt Ruane

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The market has done a good job, considering all it’s had to take in over the last few days. There’s skepticism across the board right now, but no fear, no panic. I like the action...

—Matt Ruane

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I would have liked to see the market sell off even more in order to form the basis for a better rally, but I think we could possibly get a bounce from these levels in...

—Matt Ruane

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It’s a surprise reversal today after the labor number this morning. The resignation of O’Neill was certainly a positive for the market. That was clearly the catalyst. The market was also getting a little oversold....

—Matt Ruane

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Labor
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We’re seeing a little bounce from oversold conditions, with stocks not being down quite as much as they were this morning, but it’s still nasty out there. We’re in a bear market, where we have...

—Matt Ruane

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More and more companies are going to be scrutinized in the coming months, but despite all this gloom and doom, the market is holding up pretty well with a few notable exceptions, like WorldCom.

—Matt Ruane

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Bush’s comments provided some short-term comfort. But shortly after, we sold back down again.

—Matt Ruane

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Comfort
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But this is a normal pullback after the run up we’ve seen in October. I wouldn’t read too much into it.

—Matt Ruane

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It’s all Texas Instruments today. After IBM and Intel last week, we’re seeing tech take two steps forward, one step back.

—Matt Ruane

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The near term out of these companies is shaky. It’s the forecast for higher growth in the second half that is really bringing markets higher today. People are seeing a little light at the end...

—Matt Ruane

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Growth
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We’re really in a trading range, drifting sideways for the time being as the market waits for its next catalyst.

—Matt Ruane

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The durable goods made it look like the market was ready for a jump, but confidence knocked it back down. We’re also in the worst of the summer doldrums. Then, Intel is also putting a...

—Matt Ruane

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Confidence
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There’s also still some money being put to work out there for solid companies with good fundamentals. It’s just really selective.

—Matt Ruane

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Long-term these investigations [into accounting] will be positive, as we’ll have cleaner accounting and more visibility, but short-term we’re going to see a lot of bumps.

—Matt Ruane

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The key here is still commodities. Oil has been above $30 a barrel for what, the last 90 days?. Commodity prices need to come down. Wholesale numbers yesterday were high because of energy, because of...

—Matt Ruane

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There’s a lot of nervousness on the political front and that’s keeping the buyers out of the market. We’ve got 50 significant companies reporting results this week – but at this point, bad news is...

—Matt Ruane

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We’ve been trading sideways for months, and until we get some sort of resolution with Iraq, we’re going to keep trading in fits and starts.

—Matt Ruane

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