When the market refused to acquiesce (to Cisco's news), that was uncharacteristically resilient of this market, ... People are now looking for reasons why the market isn't doing more.
A number of people were looking for the good news that occurred, ... When the dust settles, people also say, history argues for the market going up. So people who may have been inclined to sell just don't.
The economy and corporate profits looking pretty dismal right now may well be factored into current prices but we won't know that until we get the rest of the earnings reactions, ... The reactions will be key to how the market will look in the coming weeks.
In companies like this, people are looking for change, ... The hedge funds come in and they're going to bet that this is something that will push the stock price up. And it's a decent bet. Icahn's name is important because of the history that he will get something done.
The market is smelling a positive surprise that Congress is going to do something good for the economy, ... What we're looking at is a growing conviction that the worst is behind us.