Things are traditionally slow in August. There is not a lot of leadership out there. Harris predicts more of the same swings in the market today. This still is not the major correction expected by many forecasters. We are only down 7 percent now.
Investors have to get used to bigger number swings.
Ron Lewis of D.E. Frey and Lewis and Lewis Securities said the swings come from liquidity problems. There are a lot of big investors on vacation. There is not much volume. He said 200-300 point swings may be common from now on. Both brokers said the economy is strong, and the market should see brighter days.