The lead up to the Fed meeting was that we are going to be done soon, they are going to put the brakes on, and that fueled the momentum. But now people are realizing that they aren't done yet, and that's shifted the psychology.
More Quotes from Tim Heekin:
There are good trends everywhere. Some people are looking for a 5 percent to 10 percent correction, partly because they think it's healthy and partly because they want a pullback so they can jump back in. But the path of least resistance remains up.Tim Heekin
People are looking for more clarity in terms of Iraq, interest rates, oil prices and the dollar.
Tim Heekin
You'll see a moderate move off of Greenspan's comments tomorrow. But at this point, it's pretty well anticipated by the market.
Tim Heekin
The market has been down, triggered by some comments from Fed governors on inflation,
Tim Heekin
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Based on Topics: People Quotes, Psychology QuotesEvery time I appoint someone to a vacant position, I make a hundred unhappy and one ungrateful.
Louis XIV
I am afraid the Spanish American has not always a very strict regard for truth.
Edward Burnett Tylor
Looking back, of course, it was irresponsible, mad, forlorn, idiotic, but if you don't take chances then you'll never have a winning hand, and I've no regrets.
Bernard Cornwell