The bond market was so weak all day that it pushed the broader market lower. Investors weren't talking about if the Fed will raise rates, but how much.
More Quotes from Alan Skrainka:
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.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
We feel we can do a service to our customers if we just get the overall trend right. We don't really practice technical analysis or try to guess the price points next week. But the trend does look like it's higher, because the Fed now is probably shifting into neutral earnings are very strong. And because the Fed acted promptly they ensured we would have another year of solid growth next year. That is what the market is anticipating.
Alan Skrainka
It just reflects Wall Street's manic-depressive mood. In the meantime, you have some selective cautious buying, but I think people are much more cautious and not just jumping in on any dip.
Alan Skrainka
Our advice is that for a very small portion of your portfolio 5 percent it's OK to own gold or a broader basket of commodities. But don't do this because it's popular or exciting. If you're investing in gold, you need to stay committed through good times and bad.
Alan Skrainka
They already made an investment decision prior to the rule change being official.
Alan Skrainka
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