The election is really undecided, and I think that keeps the market locked in a range right now. Day to day this week, I think people need to watch the price of energy and see how Wall Street is looking to position itself for after the election.
More Quotes from Barry Hyman:
Don't expect 86 percent this year on the tech stocks, ... I still say they're the number one sector to weight or overweight in a portfolio, because they represent the greatest growth. Your companies at 8-to-10 percent are languishing. Companies with earnings, who cares. It's a 100 times earnings. It's 30 percent growth that matters in this market.Barry Hyman
It's either down or up. It's great for traders it's noise for investors.
Barry Hyman
There is a fear that we'll have a negative surprise and inflationary fears are keeping people on the sidelines, ... There's no real great impetus out there to drive the market.
Barry Hyman
I agree that this was a psychological boost because the Fed is freaked that the consumer is starting to back out, and they want to...try to make the Christmas season a little more palatable,
Barry Hyman
Traders are just lightening their positions a little bit. The holidays are compressing the activity and I think most of the (options) rolling over you saw yesterday.
Barry Hyman
I think it's just more of the same. The Nasdaq is quickly approaching 5,000 and it's hard to divert money back to traditional stocks when the opportunities are so phenomenal in the new world economy.
Barry Hyman
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