We've seen a noticeable pickup in concern over the last two months.
More Quotes from Richard Cripps:
From a trading desk standpoint, you'd rather be long (own stocks) here than short, and that starts to build its own dynamic and attract its own level of interest. The market is oversold and selling pressure is easing.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
There is a lack of buyer conviction. The whole dynamic of the Nasdaq rise and correction is, in a broader sense, an inflection point. But investors just view it as weakness.
Richard Cripps
Putting it in context, it wasn't a great display of bullishness one would assume.
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
We've set up a situation where a 25 basis point (a quarter percentage point) cut is good but you're looking at a market that's desperate.
Richard Cripps
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