If there's any doubt about this bull market's stamina, yesterday should have quieted some of those doubts. There was no news, positive or negative, in the marketplace. And yet the Dow rose to an all-time high and the broader market was strong as well.
More Quotes from Charles Crane:
I think we could re-write the book a little bit. The other sort of traditional way of looking at the market is that you get a summer rally. And I suspect that we will get a positive bias to this market at some point in time over the next couple of months. However, I do think that you're probably in that quieter period for news and developments in the technology sector.Charles Crane
The sooner we can line up company A against company B and have some modicum of evidence the books have been prepared in a similar fashion, the better off the market is going to be. Even if the bottom line ends up looking mighty lean.
Charles Crane
We've seen very satisfactory earnings growth. There's a hope that the Fed is close to the end of its tightening campaign.
Charles Crane
I haven't heard any compelling stories to say that this is anything more than bargain hunting. We're in a period of time where investors are going to be concerned about second-quarter earnings, so I wouldn't extrapolate too much from this.
Charles Crane
I think the advice to any investor is try to block out as much macro noise as you can but resist the temptation to think this is a market bottom -- it's a lottery ticket.
Charles Crane
News of some sort of explosion over in the Middle East was conveniently coincidental with the market downturn, so I've got to think that had something to do with it.
Charles Crane
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