Quotes by Ken Sheinberg

“Its a little bump off of a serious decline ? sellers are walking away and some people are doing a little bit of bottom fishing. Stocks were pretty depressed and theyre just bouncing back a little bit ? theres nothing behind it.”

“Stocks dont go straight down and stocks dont go straight up. The markets in trouble ? technically, its in trouble and fundamentally its in trouble. Were going to bounce around with a downward bias.”

“Right now were in the middle of the range, pricing in some positive news, and the market will be susceptible to negative news. Were in a situation where, within a downward move, youre going to have short, sharp rallies.”

“Everything is accentuated because nobody has conviction and everybody piles on when the market moves one way or another. The market is churning around and thats the way its going to be until theres clear definition of what the visibility is going to be going forward.”

“The market has priced in a lot of positive news ? but the bottom line is that corporate earnings are not there, theres zero visibility and theres not going to be for at least another two quarters.”

“Leadership isnt phenomenal and now youre entering pre-announcement season, so people are worried. Volume hasnt been great, but trends are definitely in place ? technology is for sale and defensive issues are to buy.”

“The theory is that with rate increases, it doesnt effect the new economy stocks.”

“Weve got a bad economic situation, a bad technical situation, so why should the market go up?”

“People get a little fed up and see their 401(k) money down 40 percent over the last year, so they start to freak out a little bit. Its a very emotional time and the market trades on emotion. I think a lot of people have lost their nest eggs, so do they want to lose more?”

“I think its triple witching activity. The move has been pretty impressive but the liquidity has been horrendous so it doesnt take a lot to move this market. There was a rather large asset allocation and when that got through, you had a lot of short covering and bottom fishing that just fed on itself.”

“People get a little fed up and see their portfolio down significantly, and I always laugh to myself, because I still got paid.”