Everyone has talked about employment being the missing link in the recovery, but as the weekly jobless claims have made clear for some time, employment is moving in the right direction, it's just moving very slowly. At whatever point a substantial recovery in jobs really takes hold, that's probably going to be a difficult time for the stock market.
More Quotes from Brett Gallagher:
We're going to have to see better news and slow steady incremental gains over a prolonged period of time in order to build the market.Brett Gallagher
In our view, we're going to have another down leg here because of the consumer. If you keep laying people off, that doesn't bode well for future consumer purchases. We have a negative savings rate and we no longer have the gains from the portfolios which were increasing wealth.
Brett Gallagher
The market was down so far so fast recently that I don't think it takes much to get a bounce here. Investors were just determined today to be optimistic.
Brett Gallagher
After a big up day like you had yesterday, you have to have some digestion. Once things run up by a big amount, then investors have to step back.
Brett Gallagher
I think the market is just biding its time, and we're going to have these back-and-forth days.
Brett Gallagher
I don't think there's any fraud there, but they're the king of creative and aggressive accounting.
Brett Gallagher
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