The Fed is going to have a hard time stopping their increases if the economy seems to be gaining strength. I think the Fed will have a very hard time talking down the inflation hawks if the data comes in stronger than expected.
More Quotes from Ken Tower:
Right now, it's the yield curve that everyone will be watching. Now we're wondering what type of economic growth we'll have going forward. For investors, it's always possible that this time will be different, but we still have to be defensive going into 2006.Ken Tower
When the companies actually come in with their earnings announcements, we're going to move a lot higher. I think when investors look through the rubble after the correction we've seen they are going to find some real good values.
Ken Tower
These hearings have an impact on investor psychology, they make people nervous, and that's why we're having a rally at the close.
Ken Tower
We are at a major crossroads here. If we are unable to break out of this trading range to the upside soon, then there is a danger that we could quickly slide back down again to the lows.
Ken Tower
Friday was an ugly day, but it was an options and futures expiration Friday, and that may have exaggerated the decline. Additionally, there were still a lot of stocks making new highs for the week as a whole. Longer-term traders can start looking for buying opportunities. I don't think there's any rush to find those opportunities, but it's too early to panic on the overall market trend.
Ken Tower
The whole tech sector jumped after the IBM announcement and it may spark a rally tomorrow. But it's one piece of good news. Could the impact be erased by a subsequent piece of bad news between now and tomorrow Sure.
Ken Tower
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