The big change in this market the last month or so has been a mood shift from 'the glass is half empty' to 'the glass is half full', and that's why we've had a good rally and a very modest time-out to catch our breath.
More Quotes from Al Goldman:
The fundamental news and the inflation news remain quite positive. We had that big six-week rally in October. Stocks at this exact moment just don't seem ready to stop this correction.Al Goldman
The message of the market today is that there is a lot of money on the sidelines and that money was looking for a reason to buy. And the main reason to buy is that we're going up. Momentum builds on momentum.
Al Goldman
We have been and we remain in a very powerful bull market, ... in near term basis, the market has come long way in short period of time and odds favor a bit of a time-out in the next week.
Al Goldman
After four days of selling, a giveback of about half of the gains of the first seven days of the new year and a big increase in gloom, we look for a rally attempt.
Al Goldman
The market is ignoring the price of oil, Iran and the price of gold at the moment. Investors are focusing on the good and ignoring the bad. Lately, that hasn't been the case. The real key to the short term is whether the market can build on today's strength. I'm optimistic but nervous.
Al Goldman
We have a very nervous investment environment. The excuse is bond rates are up and there is increased concern about the financial futures market, which appears to be predicting three more rate hike for the Fed funds.
Al Goldman
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