The market has somewhat anticipated a half-point rate increase next week, so if they can see signs that the economy is slowing then the belief is that maybe the Fed will not have to do anything beyond the next meeting, and that maybe the worst of the rate raise is over.
More Quotes from Peter Chandler:
It is a tech wreck, that's for certain, ... You need capitulation to have good bottom. I didn't see that today. I saw an absence of buyers. Quite frankly there just weren't enough bids. Have we fallen enough here Probably not.Peter Chandler
As usually happens, we take our cue from south of the border. And, of course, the Dow and the Nasdaq caught fire today. The question now is whether this is a one- or two-day thing or this is a sustainable rally.
Peter Chandler
We made a new low on the Nasdaq yesterday and on a very, very short term basis it's oversold and I think that we can expect this kind of activity from time to time where the market gives us some relief, some bounce.
Peter Chandler
The bad news being the lower earnings that are going to start coming out. The good news is most of the damage has been done in the market and it's trying to find a good bottom.
Peter Chandler
out from underneath Ma Bell's skirt, able to continue to expand and pursue their growth strategy without having a big mother looking over.
Peter Chandler
The market got some disturbing news about some additional strength in the economy earlier in the week, and that's indicative of inflation rearing its head and the (U.S. Federal Reserve) tightening interest rates.
Peter Chandler
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