We're in a bit of a hiatus period here. Earnings for the first quarter are out and that's already in the market. The Federal Reserve did what it was going to do and that's in the market and we've got a neutral position in the short term for a lot of stocks.
More Quotes from Phil Roth:
We won't know about that until next week. For now, we give the benefit of the doubt to the upside and still look for nominal additional gains early in 2006.Phil Roth
Next, we worry about the 'January effect,' or lack of it.
Phil Roth
You don't need much of a reason these days to go down 5 or 6 percent. And we have some good reasons today bonds are down and the dollar is getting clobbered.
Phil Roth
That shows a significant drop in speculative interest.
Phil Roth
The bullish scenario would be, it the market rallies again today and tomorrow. That would be a sign the rebuilding has started.
Phil Roth
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And it seems to me in that experience may lie at least some of the clues for policy development perhaps constitutional changes as well that Labour will need to make at the national level too.
Patricia Hewitt
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