There is no person on the planet who is going to be able to fill Greenspan's spot without a test, ... I'm not sure that it's a coincidence that the market crash of 1987 happened two months after Greenspan took office.
More Quotes from Ken Tower:
I'm left with the sense that this is a trading-range market, not a larger decline. The major averages are now coming down to their late August lows, which are presumably the low end of this trading range. There wasn't any real sign of a reversal yesterday, but support is nearby and downside leadership is poor.Ken Tower
The recent stock rally was fueled by the idea that the Fed is nearly done and I am concerned that such a hope could be in trouble. If the economy is growing faster than investors are expecting, that could be a problem.
Ken Tower
A new Fed chairman is an unknown and as such offers nervous investors an excuse to sell.
Ken Tower
Unless we get a negative surprise on a piece of economic data that's really out of the ordinary, then it's going to be a subdued week with the Fed meeting right around the corner.
Ken Tower
This is pretty much a continuation of what we've seen for four months now. The value stocks are doing better and people are moving out of technology.
Ken Tower
We are at the top of a trading range. Everyone's willing to be bullish, but is the cash there to provide the energy the bulls need, or is the December high the high-water mark Dow 11,000 is one of the hooks the bulls will use to try and attract more money into the market.
Ken Tower
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