Larry Wachtel Last Quotations

The market is plagued by warnings. There have been over 500 negative preannouncements in the last four to five weeks.

The only thing that was positive today was that there was nothing negative, especially no lousy economic reports that we've had over the last four trading days. The summer doldrums have not appeared so far.

The selling last week was so extreme, there had to be a snap back.

Last minute tax-loss selling, that's why they stay open on the day before New Year's, so there might be some excitement, but it's just a beginning phase.