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.
More Quotes from Scotty George:
What we're looking at generally is whether the market can get past these levels. We think there's enough strong sentiment and stimulus in the pipeline for that to happen and that the earnings will ultimately lead the market, but it's a process, and it's going to take time.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
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
I mean we've had a consolidation but we haven't penetrated any long term support levels, and so, as I said, we're in a period of commonality where traditional market leadership may take hold and make some of us older guys look a little better than the-you know, high tech performers.
Scotty George
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.
Scotty George
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Men have an extraordinarily erroneous opinion of their position in nature; and the error is ineradicable.
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