It was unanimous we'd have a year-end rally until the yield curve inverted. We wanted to close the market on a high note this year, but now we're worried that the 2006 market will have to deal with this. The next Federal Reserve meeting will be extremely critical. We have to hope this isn't predictive of a recession or a slowing economy.
More Quotes from Barry Hyman:
The catalyst here is going to be patience. We're in a bear market.Barry Hyman
Next week's retail sales numbers and inflation numbers are going to be some key statistics to give us a little bit more input into where the Fed stands.
Barry Hyman
You're getting a lot of positive sentiment in the market and a lot of rotational shifting toward growth, ... It doesn't say that earnings are going to be better but it does lead one to believe that a lot of the bad news may already be built in.
Barry Hyman
The ability of Intel to come out and say a 'no worse than expected' story pleased the market. There are many other corporations in technology that are in that position so that if the slowdown is just a slowdown, there's good upside in many of those issues.
Barry Hyman
Energy prices, which were lower, have turned up. I think we quickly came to the reality that a less-than-expected outcome from Hurricane Rita doesn't take away from the worse-than-expected outcome from Katrina.
Barry Hyman
There was rotation out of the strong sectors into the weak sectors, ... Techs really got hammered. Volatility, up and down, means there are just as many sellers as buyers, and people think the (semiconductor) sector might be a little pricey, especially as we come into an economic slowdown.
Barry Hyman
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