For Warner-Lambert shareholders, the danger is that Pfizer takes its marbles and goes home. But the potential reward is that you can get the deal for a higher price.
More Quotes from Larry Wachtel:
It's becoming a day-to-day struggle between bears and bulls. Once oil and yields move to highs, the bears take advantage. Those are the twin dreadnoughts of the market. But earnings news has been strong and has kept bulls on top.Larry Wachtel
It's a catch-22. If any of these numbers comes in too strong, it's going to hurt stocks because it means the Fed is going to keep hiking.
Larry Wachtel
I'm amazed at how well the market has held. This sideways action shows a very strong market.
Larry Wachtel
Last minute tax-loss selling, that's why they stay open on the day before New Year's, so there might be some excitement, but it's just a beginning phase.
Larry Wachtel
At this point, the task of the component suppliers is to find enough chips to meet the demand, ... But there's always the psychological turning point as to when you begin to slow the demand down. I think that's the problem. I think it's been overdone, and I think the chip stocks are very good buys here.
Larry Wachtel
Earnings statements will make or break the market this week. I'll be watching the reports coming from some of the technology names, because I think that sector may lead the way this year.
Larry Wachtel
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