We were going to have a knee-jerk negative reaction to the Fed's decision no matter what, with so many different opinions on what should be done, but I think today, it may be that people are looking more closely at the statement and see it as the Fed saying things are slowly going in the right direction.
More Quotes from Douglas Altabef:
Three years ago people actually thought that the Dow could go to 36,000 and it did the opposite. It's when people have really given up on the prospect of a real rally that you see a real rally, but try telling that to most investors now. Three years ago there was no reality dose, today there's no perspective.Douglas Altabef
We're looking at the first day of the rest of the year and it's looking like more of the same. On an up note, there is more discussion that maybe we have worked through some of the intense negativity of late and that the disconnect between the economic data and market action may end soon.
Douglas Altabef
With Iraq off center stage, there is more good to focus on than not. The prospect of a double-dip recession will fade, I think.
Douglas Altabef
This is not an expensive stock. We think Merrill certainly has a significant amount of upward opportunity.
Douglas Altabef
It's a mixed picture. There's no question that the news is a lot better, but it may be priced into the market.
Douglas Altabef
Ostensibly, the advance was caused by oil coming down and some of the comments with the beige book.
Douglas Altabef
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