Regardless of what the Fed does today, I think that maximum monetary stimulation throughout the world is over. We are seeing the low point of interest rates throughout the world. The next move will be upward. Moreover, I think the earnings momentum for the markets is eroding as well.
More Quotes from Michael Metz:
His first speech was solid, clear and it addressed all the issues the stock market wanted to hear about -- rates, inflation, housing, oil and the economy.Michael Metz
Oil is getting hit here and that also hurts the oil stocks. That is disenchanting a number of short-term traders who didn't expect to get hit that badly by a drop in crude prices.
Michael Metz
When people are desperate to sell you buy. When they are desperate to buy you sell. He who waits until he is in the arena to plan has planned too late.
Michael Metz
The market, as far as stocks are concerned, it's been amazingly resilient in the face of some very bad news, particularly about oil prices.
Michael Metz
My guess is that it was probably a program trade that went in.
Michael Metz
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