I think long term, even though we're down today, you're seeing some energy and drug stocks responding in a way that suggests the market believes he is going to cut rates again this year.
More Quotes from Scotty George:
What we're seeing today and what we have been seeing for the last week is a drying up of sentiment as investors wait for some definitive resolution of world events and some new corporate catalysts.Scotty George
It's the micro management, the machinations up and down of interest rates, that has really gotten us to the point where we are now, rather than the market playing out at its own natural cycle. So the Fed today, I believe, will take a look back at the landscape, assess what they've done, and probably use August to evaluate whether or not to come back in and raise rates.
Scotty George
We've really gorged ourselves on stocks for the last eight weeks. The damage is really across many sectors. More than the AOL news -- the market is really tired of the feast. We need to push ourselves away from the table.
Scotty George
I think that we're entering into a season of commonality. Earlier this year we had such a euphoric spike in different sectors at different times, and it was very tough to get a fix on valuation and fundamentals.
Scotty George
I think the market today is just perpetuating the uncertainty we've seen in the last few weeks after it hit its highs earlier in the month.
Scotty George
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Based on Topics: Energy QuotesWe're basically after Joe's beer money, and Joe likes his beer, so you better make sure that what you give him is at least as pleasurable to him as having his six-pack of beer would be.
Jerry Pournelle
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William Blake
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Robert Collier