We have 30-year bond yield pressing toward 6.70 percent, when you couple that with the kind of strength we had yesterday, you're going to find ample reason to take profits.
More Quotes from Terrence Gabriel:
It comes down to rate fears. The Fed is going to have to get pretty aggressive. We're quite worried about the interest rate outlook.Terrence Gabriel
Stocks are not reacting to good (earnings) news. Next week begins the real flood of what should be very closely watched reports. If the good earnings news is not able to buoy the market, it's because of interest rate concerns.
Terrence Gabriel
Momentum investing has become more and more in vogue. When certain stocks start to move, there's a tendency toward massive concentration.
Terrence Gabriel
People feel the growth is there whether you push rates up to 6.50 percent or 6.80 percent.
Terrence Gabriel
I think the Qualcomm report may be dampening sentiment and Compaq's report is somewhat mixed. It does seem that disappointment over the Qualcomm report is feeding into the tech stocks.
Terrence Gabriel
Readers Who Like This Quotation Also Like:
The genius, wit, and the spirit of a nation are discovered by their proverbs.Francis Bacon
We would like to see you departing peacefully.
Desmond Tutu
The primary goal of a vendor is to make money.
Theo de Raadt