We have probably moved ahead of ourselves. The market is not expensive but it has moved quite forcibly upwards.
More Quotes from Mike Lenhoff:
The key thing is to make sure the consumer doesn't start flagging,Mike Lenhoff
U.S. corporate growth remains very solid despite high oil prices. The stock market is bound for some gains today.
Mike Lenhoff
We are seeing more analyst downgrades than upgrades, ... Loss of earnings momentum in Europe is weighing.
Mike Lenhoff
Apple is a reminder that maybe expectations for third-quarter earnings were too high, and most companies won't be able to beat that, ... The combination of earnings worries, with recent comments by Fed officials on inflation will drag on the markets today.
Mike Lenhoff
If there is a statement out tomorrow that says the U.S. economy is still sizzling and we are still concerned about inflationary pressures ... then that will shake up the market a bit and that will reverberate back to Europe and the UK.
Mike Lenhoff
These bond markets seem determined to convince everyone that interest rates are going a lot higher than expected.
Mike Lenhoff
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