Alan Ackerman Decided Quotations

I think that the wide swings in the market created a lot of pain. We have a lot of walking wounded among portfolio holders. And many institutional types decided to purge problem stocks from their portfolios as a result of the drop we saw earlier in the week. We're really in a week this week that could go in either direction, and again those four variables, the four E's, could affect that.

We've had a decided turn from flights of fantasy to a return to reality in terms of valuations, ... They are pressured by high price-to-earnings ratios and ongoing (interest) rate hike concerns.

The level of frustration for many traders has reached a point where many are just tossing stocks into the market and have decided not to play for now,