Let's get back on that momentum boat, let's see if we can open our day-trading accounts again, ... But I can't help but think, where have you been for the past year Haven't you learned anything And wasn't it painful enough for you Maybe we need some more pain, but I don't think we are going to get a lot more of it.
More Quotes from Michael Farr:
This is the time when we see what all these increasing inventories mean.Michael Farr
The post-Labor Day rally, I wasn't sold on. The fact that we didn't really crash over summer, I thought was a terrific blessing. I think sentiment is going to drive the market from here. The numbers are there, the numbers have not changed. The economy has not changed, it is still good, slowing down a little bit. We've got a nice stable platform. Earnings for second quarter were fabulous. They ought to be pretty good, I think, coming in here to the third quarter.
Michael Farr
I think the short-term indicators probably are not a particularly healthy sign, ... Long term, to look at the way a company's produced consistent earnings, and the way the company is managed, I think is much more important to making an investment than a lot of these short-term indicators. But, in a bull market, there's no such thing as bad news. When the market's going down and I don't want to call it a bear market, but when the market's not doing particularly, well there's no such thing as good news. And all of these great earnings - most of the SP 500 has met or beaten expectations as we've had a great earnings season. And the market doesn't really seem to care. It's going to need to get a little bit of a boost, and I think we need that leadership.
Michael Farr
The weaker manufacturing number does put the Federal Reserve policy makers in a position where they will have to ease interest rates, ... The market is in a downtrend here. Psychology is controlling the market here. We're embracing the bad news and discounting the good news.
Michael Farr
I think the economy is recovering and we won't get into a double dip. But trying to forecast when that economic strength shows up in earnings is a kind of fool's game. We've been playing it for about two-and-a -half years now,
Michael Farr
They are earning a lot of money, ... They've got great products, and they are going to get through all of this noise with the government.
Michael Farr
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