I think the market is waffling at this point, ... Yesterday, everybody heard what they wanted from Greenspan's speech and you saw a big run up. I think that today there's a little bit of exhaustion from that.
More Quotes from John Davidson:
What people have to see are actions being taken. Words are part of it, and setting the tone and speaking out are part of it, ... But people need to see that the judicial branch goes after people who have done wrong and will able to punish them, and that the legislative branch makes changes in the laws, if deemed necessary.John Davidson
He also likes financial issues on account of PE ratios. That sector now is selling at a considerable discount in terms of PE to growth rate, ... So companies, in that sector, include Bank of New York, which reported and disappointed people, and brought the price down a little bit better.
John Davidson
I think what you're seeing today and over the past week is a good indicator of where the market is right now and will likely be through the end of the year.
John Davidson
CPI and PPI next week could be a little light, so that might get some attention,
John Davidson
The housing numbers were certainly strong, so that should have been a positive and a few companies beat by a penny or so, but geopolitical concerns are overweighing everything else.
John Davidson
If you're out of the market you need to be in the market if you're saving for your long-term retirement or for other elements, ... People have been waiting on the sidelines, not committing as much new money. I don't think you should be investing next week's rent check, but your long-term investment is going to really grow in the market, and technology will lead that.
John Davidson
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