They were destined to be disappointing. One, the weather was against you and we have a cautious consumer.
More Quotes from Larry Wachtel:
It doesn't tell you anything in terms of the fundamentals. I think there will be a bet made tomorrow (Tuesday) and early Wednesday that the Fed goes 50 basis points (a half-percentage point). If it pays off, I think there will be a trading flurry.Larry Wachtel
We have good earnings today, but there's just too much good economic news. We're increasing the likelihood of a rate hike in June. The data are coming in stronger than expected, so the Street is expecting another hike. The better the news, the more likely the Fed will tighten. It's a strange phenomenon that good news can be bad news.
Larry Wachtel
If we get any kind of word that we can avert military action, avoid a war, certainly that would be helpful.
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
If I was doing some bargain-hunting in blue chips, those are two that I would go after.
Larry Wachtel
This is a way to dip your toe in the water without getting into deep vulnerability, so you're participating in the blue chips.
Larry Wachtel
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