Matt Ruane Quotes

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, you're seeing some money go into some high-risk areas ... which tells you something about how the psychology is changing from a month ago. - Matt Ruane

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. Airlines are down again and it's pressuring the broader market, particularly the Dow. US Airways' filing wasn't a surprise but it still sets a negative tone. - Matt Ruane

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

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 these false rallies on a little short-covering, but there's nothing on the horizon to push it past that. It's also the end of the quarter, so you've got a lot of people sitting on the sidelines. - Matt Ruane

We're really in a trading range, drifting sideways for the time being as the market waits for its next catalyst. - Matt Ruane

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

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

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 from more sources now, but you will see prices continue to rise and markets will keep feeling the effects. - Matt Ruane

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 almost good news, because it's so built in to people's expectations. - Matt Ruane

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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