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.
More Quotes from 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
With the confidence crisis in the U.S. markets, investors will look to more conservative stocks as prices consolidate, and Burlington Northern is one of these safer stocks.
Scotty George
Right now the market is not reacting to fundamentals but is driven by the psychological. That's certainly the reaction you're seeing after the Fed news.
Scotty George
We're really testing the patience of investors who have lost substantial sums of money. We're also testing technical levels, with stocks expanding or retracting as we get near key lows.
Scotty George
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