The market is usually ahead of a recovery, and in the past, the market was reacting to negative data. It seems to be shaking off bad news now. To me, that's good news.
More Quotes from Tim Heekin:
This movement in the bond market is amazing, truly unprecedented. People are starting to sell fixed-income and put that money into stocks. Equity is starting to look like this undervalued dark horse worth betting on.Tim Heekin
I hope we'll see a nice pick-up in business as September gets underway.
Tim Heekin
This is purely a technical rally. There is no economic news, no company or sector-specific news that's causing this,
Tim Heekin
I don't think we're going to be able to see anything much until we at least get past Labor Day,
Tim Heekin
What started this two weeks ago was the big pension funds and other institutions coming in, seeing that bonds were getting over-valued and shifting money out of fixed income and into equities.
Tim Heekin
If they feel like the consumer is losing his strength and his spending power in the market, and he's going to be putting more money into savings, that's going to make the market nervous.
Tim Heekin
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I never felt any different from anyone else though.
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