Short-term, what the market is taking from the GDP report is that inflation is higher, and there's less economic growth than we thought, and that's putting a crimp on things today.
More Quotes from Peter Green:
I thought I had too much money to be happy and normal. Thousand of pounds is just too much for a working person to handle all of a sudden, and I felt I didn't deserve it.Peter Green
My suspicion is that we're near a near-term low. The reality is the majority of the selling short-term is over with -- the market doesn't want to go down.
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I took one too many LSD trips. And that puts me in the Care and Attention category.
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There's no economic news due Friday, no earnings, and not many people are going to be around. We could gain a little Friday if the seasonal tendencies kick in, but it won't be a significant move. I don't think this week is indicative of what's going on in the market generally.
Peter Green
Interest rate fears are fully discounted now, which is why bonds are up today. That's why stocks are bouncing, why the utilities are rallying, regional bank groups are rallying. But I don't think the market is going to have much more lift here.
Peter Green
The rally that we've had for the last couple of weeks was basically concluded this week. You're seeing investors starting to discount positive news from companies and a Fed rate cut next week,
Peter Green
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