What you are seeing is the likelihood that interest rates will not go higher next week, making it easier to give these big cap growth stocks high valuations.
More Quotes from Barry Hyman:
It's a consumer company that sells personal care items, ... At 11 times earnings, I think it is too cheap to be ignored. I think it is a 15 stock.Barry Hyman
Our look for the rest of the year is we're going to rally and worry. We're going to rally and worry some more. And we're going to rally again. I think the concern or the 'worry period' that we're now entering is this cyclical issue again, after this run up in the semiconductors sector and the third-quarter prerelease season, which we're quickly coming to. And I think that's going to give the opportunity for the next run up in the marketplace, which should come somewhere over the next few weeks into the election. The good news, as you pointed out, is that the Fed's done,
Barry Hyman
I think the picture is optimistic and earnings in general have been better than expected.
Barry Hyman
I think we are still in a consolidation period, ... and I think we can't afford to overlook the impact of the economic news on the market. You had a retail sales number this morning that was in line but nothing spectacular and a rise in jobless claims.
Barry Hyman
I still don't think we have the Fed out of the way, ... The Fed seemed to worry more on inflationary than longer-term risks to the economy, which was reacted to very quickly in the market yesterday. That story still lingers today, as well as another major hurricane that's ramping up energy costs.
Barry Hyman
This is a continuation of last week's decline and it's picking up in intensity. There is little rotation as we see the commodity complexes taking a huge hit. It looks worse than it actually is, but still it will require a lot of work technically to right the damage.
Barry Hyman
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