I think it was a very volatile and directionless week. Investors should tap on the brakes a few times and strap on their seat belts. (Last week) was very earnings driven, and now it's shifting and people are going to focus once again on value.
More Quotes from Alan Skrainka:
I think investors should take a step back and look at the big picture. I think the (Fed) is doing its job and investors should do theirs -- avoid those companies that do not have a track record of growth.Alan Skrainka
It's just the nuttiest argument that I've ever heard -- this whole idea of old economy versus new economy assumes that we're all going to be sitting around in the dark, naked and hungry, surfing on the Internet. The idea that you don't need food companies or companies like Procter Gamble anymore is just nuts.
Alan Skrainka
I think people placed bets today based on (the data). By buying stocks today, you are assuming we won't get bad news tomorrow.
Alan Skrainka
Maybe it's concern that the economy may have more of a hard landing. The economy grew a little faster than expected, so people might be thinking we're not done as far as interest rate hikes are concerned.
Alan Skrainka
I do think the majority of Alan Greenspan's work is done.
Alan Skrainka
I think this is one time the Fed is behind the curve.
Alan Skrainka
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