Overheard On The Street
Here’s what they’re saying at mid-day:
Jay Suskind, Director of Trading, Ryan
Beck & Co.: “Today’s kind of a decent day with a good tone to it.
Obviously I think we are going to be in a trading range for a little while. You
had a big up week last week. You’ve had some profit taking the last few days,
and now I think everyone is just digesting earnings and really looking toward
the future and what the economy looks like. There seems to be the thought that
maybe the economy starts to pick up in the later spring or summer. I would sense
that right now there’s no panic buying or selling or doing anything. We’re just
building a base here, which I think long-term is healthy.”
Edward Wedbush, President, Wedbush Morgan
Securities: “My thoughts are generally positive since that bottom we hit
several weeks ago, and we had a very fast run-up, and it’s my opinion that we
are not going back down there over the near term. We’re likely going through a
little bit of a sideways consolidation movement, and I expect some of the
technology stocks to continue to do better and rebound. I also expect some of
the other industries like the steel industry, very notably AK Steel and
Bethlehem Steel, have picked up in recent weeks. That trend is likely to
continue.”