I don't think there's going to be enough bad news in December to send us lower. My guess is we go up through the end of December and we meet our day of reckoning sometime in the new year.
More Quotes from Brett Gallagher:
There's been very little investment in infrastructure at these companies over the past decade -- tech was sucking up all the capital, ... Demand is picking up and you have this big, new demand from China, which is pulling away supply that might otherwise have headed to the United States.Brett Gallagher
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.
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
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
There's all this emphasis on the next Enron, when that doesn't exist, ... What's more common is a widespread stretching of the standards of accounting, particularly in what companies count as one-time items as opposed to recurring charges.
Brett Gallagher
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