These were reassuring statements by the Fed, ... I think what the market ultimately fears is inflation. What makes assets worth less in the long run is inflation. What the Fed is effectively saying is, 'We won't let prices get out of control.'
More Quotes from Marc Pado:
Any time you remove uncertainty, it's good news for the market. Having raised the question, the market has shifted its attention to Greenspan from earnings.Marc Pado
The good jobs report bought the bulls a reprieve, and now it is up to earnings to carry the torch. We're still heading right into the seasonally weak February and March months in a bearish midterm election year with rates rising and oil prices rallying. Januaries tend to start strong, but it is how they finish that matters.
Marc Pado
It looks like some seasonal New Year's buying will give the market a bullish start, but this January faces many negative technical obstacles.
Marc Pado
Had it not been for the impressive January same-store sales reports, decent forward-looking statements and the big drop in energy prices, the market drop would have been far worse. With the understanding that we needed to keep our eyes on wage pressures and productivity, both of those components suddenly soured investors on the idea that the Fed was truly done.
Marc Pado
There is no question that the tone has turned more positive. We haven't broken out yet, but the markets are poised. Now all we need is for the news to hit the ball out of the park, and it needs to be perfect. Crude is still high and the yield curve is still flat, but the market's focus is on other things right now.
Marc Pado
Today, we're keeping an eye on the same old catalysts, rates and crude. The drop in interest rates overshadowed a rise in crude Tuesday . However, crude is still well entrenched in its trading range, on a long-term basis.
Marc Pado
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Based on Topics: Fear Quotes, Running QuotesAll architecture is great architecture after sunset; perhaps architecture is really a nocturnal art, like the art of fireworks.
Gilbert K. Chesterton
But such is the irresistable nature of truth, that all it asks, and all it wants is the liberty of appearing.
Thomas Paine