I think it's important for investors to be cautious there -- probably take some of that money off and search for new values in the market, ... Spread out your investments, because if you stay in what has been hot, invariably there will be a correction.
More Quotes from Timothy Ghriskey:
Volume is very light, and the news flow is generally light as well. After Labor Day, I think we're going to see volume pick up, and my gut says we're going to see higher stock prices.Timothy Ghriskey
Even if GDP is strong tomorrow, even better than the 6.0 consensus, you may not see a big stock reaction, ... As you saw yesterday, we're in a period where the economy should continue to support the stock gains going forward.
Timothy Ghriskey
Oil is likely to stay in the 40's and that is likely to result in a flat stock market for the time being, ... Unless crude can break out of that range, I think we're likely to see sideways trading.
Timothy Ghriskey
I'd say the biggest concern right now is certainly oil. The gas pump is squeezing the consumer and the consumer is what has kept the economy going.
Timothy Ghriskey
The fourth-quarter earnings are expected to show growth from a year ago, and there have been very few pre-announcements one way or the other, which is positive, ... But it's not unusual to see this kind of choppiness as traders maneuver around and decide what they want to be in ahead of the earnings.
Timothy Ghriskey
We're seeing a pullback really just from yesterday.
Timothy Ghriskey
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