GM and Ford rattled the hedge fund trade, brought back memories of Long-Term Capital, ... That's why the bank stocks were weak.
More Quotes from Vince Farrell:
I think the market tends to rally in front of a Fed meeting, ... I think what is going to happen is no action (to raise rates), hawkish comments and the rally fades, because what you then have to turn your attention to is what will earnings be. If growth goes from 5.5 percent to 3.5 percent, earnings are going to slow.Vince Farrell
Today, you had people reacting to the oil prices, the rumor about North Korea and the more than 200-point rally on Thursday.
Vince Farrell
I like financial stocks, but not banks, ... As a rule you have to be very cautious, because if the economy is softening, you don't know the extent of the loan loss reserves they're going to have to ante up for loans that go bad in a soft economy.
Vince Farrell
I don't think the Fed is going to raise rates . . . just because of a report the Fed is worried about it. I don't see any sign of inflation.
Vince Farrell
We had a euphoric day yesterday because the market thinks Mr. Greenspan is going to be benign today,
Vince Farrell
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Based on Topics: Business & Commerce Quotes, Capital QuotesBased on Keywords: rattled
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