Putting it in context, it wasn't a great display of bullishness one would assume.
More Quotes from Richard Cripps:
We're looking at a 12 percent decline in earnings this year for the SP 500, and that's the sharpest decline we've had since the last recession. The confidence level that one has in looking at those earnings is very low.Richard Cripps
This is the nature of bear markets. There are usually two steps forward, one step back.
Richard Cripps
I think if you are bullish here, you go back and look to the last time the Fed eased up on interest rates which was 1995, which, of course, was a good year for investors. The SP shot up almost 35 percent. So using that as a guide, some investor think that is what we're going to see.
Richard Cripps
Good earning growth. Next year, their earnings will be about 1.90 (per share). That's just 10 times this year's current stock price.
Richard Cripps
You're getting money flowing back into some of these big stocks and the tone is good. What's powering it is optimism that at some point and time, we're going to get this final turn in earnings -- it's buying with the thought that you don't fight the Fed.
Richard Cripps
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