What I don't want to see is the Dow fall below that October low, because then you're in danger of seeing a Dow 5,000 scenario.
More Quotes from Richard Suttmeier:
It's a question of how long you've owned it. If you've owned it from 1997 levels, maybe you own from 30 a share post splits. And if that's the case, you want to take a look at how much money did I have invested in Microsoft two, three, or four years ago, how much money do I have invested in Microsoft now, and maybe pare it back a little due to the uncertainty.Richard Suttmeier
As we get closer to the quarter-end, if the Federal Reserve does not raise rates, and even indicates a neutral bias after that, you will have a quarter-ending window-dressing rally like you've never seen before,
Richard Suttmeier
The market is looking for that soft landing. If we can get through the productivity unit labor cost next week, and they are benign, and it takes the Fed totally off the radar screen, then we'll get a relief rally, but not a bull market. So we're in a non-bear market, non-bull market. We're in a trading-range environment.
Richard Suttmeier
You have so many unknowns. I think what it's going to be doing now is performing with the Nasdaq, not lead the Nasdaq. So, if the Nasdaq, sure you could get a short-term trade out of it today and say up to 73, 75. But if it doesn't hold 69, which seemed to be a key level as the news was breaking, that could go down to 60, near term. That's where I would put some longer-term money in.
Richard Suttmeier
When we've had company-specific disappointments like this over the past two years, we've seen buyers come in after the midday to snap up bargains. If that doesn't happen, it could be very bad. We could see the Dow at 10,500, which would be a blow less than a week after everyone was talking about tripping over 11,000.
Richard Suttmeier
Readers Who Like This Quotation Also Like:
Based on Topics: Danger & Risk QuotesThere can be no liberty unless there is economic liberty.
Margaret Thatcher
It is undeniable that a woman's ability to stretch and pursue her total competence outside the home and get paid what she's worth for it makes for happier and more fulfilled women.
Kyle D. Pruett
I've had two proposals since I've been a widow. I am a wonderful catch, you know. I have a lot of money.
Ruth Rendell