The market has been choppy because it's trying to figure out where oil prices are going to go, how fast interest rates will rise, and what these two things mean for corporate profits. It's going to remain choppy until it gets more clarity.
More Quotes from Vince Farrell:
The good news in this correction was that there was a reason for it to correct,Vince Farrell
Both Farrell and Eisen forecast that the major indexes will be caught in the current trading range for some time. I think there will be extraordinary volatility day to day, ... but at the end of a month or the end of the quarter, very little net change. My guess is that the averages will finish slightly up on the year, because usually you don't have more than two down years in a row.
Vince Farrell
I think there's a whole lot of tech stocks that make sense. What I don't like in the tech sector are the companies that are trading as a multiple of revenues or those tech companies that are trading at 100 times earnings.
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 think you ought to take advantage of whatever rally, if you have one today, to trim whatever holdings you have that may be a disproportionate percentage in your portfolio. You know, I've been negative on the very richly priced high tech, not all tech, but the very richly priced high tech, and I don't think it is too late to sell these.
Vince Farrell
You can't guess. The decade of the '80s (for example) was a decade of great wealth creation and it averaged 17 percent a year, ... But if you missed 40 of the best days, your return was around 3 percent.
Vince Farrell
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