I think what we saw yesterday (Tuesday) was a bounce in the bear market. It could continue. There's no question there are going to be sharp rallies all the way along in here. But I think the trend has been as long as the Fed has been active, we've basically seen a down market with some rallies in it.
More Quotes from Alan Kral:
The defense sector has had quite a run over the past 18 months. As people start to anticipate a war scenario, we're seeing a little froth in these stocks.Alan Kral
We have reallocated out of bonds. We got a little bit nervous back in December. However, now that bond yields have gotten back to where they are and stock price are where they are, I think you're going to take a real look at bonds and maybe take some money off the table.
Alan Kral
I think what people will begin to focus on is earnings going forward.
Alan Kral
Absent bad news, the market wants to go up. There's a lot of money around and a lot of hope around.
Alan Kral
I think people are just not going to respond to what the Fed does if it's only 25 basis points (a quarter point). In order to have any kind of impact he has to change people's actions, he has to change what people do.
Alan Kral
The election is so important and the outcome is so unknown and the effect of it is so unknown that things are on knife edges out there. I know somebody will benefit but I just don't know who.
Alan Kral
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