After several days being increasingly optimistic, particularly in the chip sector, investors are now pulling back somewhat wondering if they have again jumped the gun. This kind of erratic move is typical when sentiment is shifting negative to positive.

This suggests one of two things: either investors are unduly optimistic about the sector, or more ominously, perhaps, the homebuilders are seeing strong demand from non-traditional buyers, ... In other words, real estate speculators have moved into the market, replacing owner-occupiers as the primary end-buyers.

Investors must be wondering whether the company will suffer from the winner's curse.

[Despite the selling, traders appeared fairly optimistic, many attributing the day's decline to investors pulling out profits after recent record session.] I see the flow of funds still exceptionally favorable for the stock market, ... 8,000 is my number. We should be there in the next week or two.

We are very, very optimistic about Connecticut, particularly Bristol.

This would be the wrong stage to be suddenly raising rates a lot because the reaction to the earlier rate increases just hasn't occurred yet.