The key is what happens tomorrow. How will people interpret what the Fed says How will the dollar do The dollar has been hanging in by default, but if it really starts to roll over, that would hurt stock prices.
More Quotes from Peter Green:
What's happening today is very telling of where the market is right now. Typically, when there is negative news people tend to make 'flight-to-safety' moves into bonds and gold, but that isn't happening. That tells me that asset classes in the near term are very tired, and that we could see more of a pull back from here over the next few months.Peter Green
Lowe's was maybe a bit of a letdown this morning, and the other retailers and some of the homebuilding stocks are down. The Dow transportation average is also weak today, despite UAL's gains. There's really no new news today to push us too much in either direction. We've had a great run recently and a minor decline isn't so bad.
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
People are comforted by Intel, but it's unsurprising that they had a good quarter, so you're seeing a little sell on the news, ... Market events get discounted more and more these days, and I think you're especially seeing that as we get into this period of digesting the earnings news.
Peter Green
Stocks are really feeling the brunt of the expectation of higher rates. The market is down not only because of the change in language in the Fed statement, but because the Fed was not clear about the timing of the rates, and the market wanted more certainty.
Peter Green
This is impressive, but the caveat is that this is the day after a holiday and not many people are in. You also have certain key sectors, like chips and the insurers, not participating. I think you need to see a few more days of this to determine whether today is a head fake or not.
Peter Green
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We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.Nassau William Senior
But what was interesting about what the Who did is that we took things which were happening in the pop genre and represent them to people so that they see them in a new way. I think the best example is Andy Warhol's work, the image of Marilyn Monroe or the Campbell's soup can.
Pete Townshend
People in Medicaid ought to have access to the same insurance as the rest of the population. If they are segregated, it will be a poor plan for poor people.
John Goodman