Attention will be focused on the statement that follows the 215 p. m. ET rate announcement, as it will give us a better indication on the Fed's future course of action. Noteworthy is that the tendency has been for the market to rally ahead of the Fed meeting and to sell-on-the-news after the announcement, ... While the market is advancing, it is on light volume due to this being a Monday in the slow month of August in front of tomorrow's economic policy uncertainty.
More Quotes from Larry Wachtel:
We are in a bit of a vacuum with the long three-day weekend coming up. Tomorrow will be a vacuum kind of day.Larry Wachtel
Confession may be good for the soul, but not on Wall Street. The negative pre-announcements that have been with us for the past two weeks has begun to accelerate with 21 confessions yesterday (Wednesday) and a handful this morning. This sets up some fear and trembling about the wide range of reports to come through most of July.
Larry Wachtel
It was a very gratifying day. But I'd like to see some follow-through tomorrow (Tuesday).
Larry Wachtel
The key this morning is the 10-year note hovering around a yield of 5. This news trumps any economic or earnings data. It's a rate-driven market, even with oil competing for headlines. Any weakness we may see will be due to these bond yields.
Larry Wachtel
What does Buffett know He's only worth 18 billion. I think he has warned of this in the past. And, indeed, he's right on blue chips There has been a gravitation toward the cyclical stocks and away from the blue chips.
Larry Wachtel
Tech is suffering from one big inventory overhang. It's going to take a long time to work through that.
Larry Wachtel
Readers Who Like This Quotation Also Like:
Based on Topics: Actions Quotes, Attention Quotes, Light Quotes, Uncertainty QuotesBased on Keywords: feds, sell-on-the-news
Marriage is like life - it is a field of battle, not a bed of roses.
Robert Louis Stevenson
To be somebody you must last.
Ruth Gordon
I looked at some of the statues of Jesus; they were just stones with no life. When they said that God is three, I was puzzled even more but could not argue. I believed it, simply because I had to have respect for the faith of my parents.
Cat Stevens