The lesson here is to maintain some modicum of cautious optimism. I think the trend is so important here and it's starting to be developed, ... But in light of everything, even if the Fed does back off, the thought of a 'hard' versus 'soft landing' is still going to be out there -- which is going to prevent outrageous gains.
More Quotes from Barry Hyman:
The traditional year-end rally didn't happen this year and the 'January Effect' doesn't look like it's going to occur. This is just a wait-and-see market right now that will continue to be driven by important catalysts, whether geopolitical or earnings-based.Barry Hyman
The retail sales numbers we saw should have presumed a rally but we had some selling in Hewlett-Packard and NBC Internet. During the day, people started to realize that retail sales were good news.
Barry Hyman
I don't think we're going to buck the September trend, and I don't think we'll see a big sell-off. I think we'll see some rallying through the next week, and then a small pullback after that in late September, judging by the cycle the market has been going in.
Barry Hyman
The market has some power today. Continued lower energy prices and the belief that the economy is rebounding off a poor fourth quarter are assumed to be behind the move today.
Barry Hyman
The market rally this week supported a growing opinion that January 31 will be the last interest rate hike.
Barry Hyman
The economy is already slowing down without the impact of that 50 basis point hike last month, and I think what you have to look at here is the ending of the interest rate cycle. The growth stocks are technology stocks. And at this time it's a very seasonal thing as well. We are coming to the end of the quarter, so you are going to just get the great stock into the portfolios and sell the weak ones.
Barry Hyman
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