David Beard Selling Quotations

Really, I expect the light volume to probably last until the Fed stops raising interest rates, and that will kind of depend on the economic outlook that we see, in terms of how much growth we have at the end of this interest-rate cycle. It really tells me that there is a lack of conviction from the buyers and a lack of conviction from the sellers, ... And it's somewhat psychological because people have their stocks, they're down, they don't want to sell them. And that's only been going on for, what, two or three months now? The real question is, after six or seven or eight months and stocks are still down -- will people start selling at that point? And maybe the volume picks up at that point.

You're still seeing people like Compaq worried about the quarter so you're seeing more pressure on high multiple stocks. The market is still trying to find a bottom but selling on continued fears of warnings.

The market is selling off because the fundamentals are weak and the stocks are overvalued.