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.
More Quotes from 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
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
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
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
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
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