It just hammers home to the Fed that the economy is slowing and they need to stop raising rates.
It's ugly out there, but I don't think its going to get much worse going forward.
There will be some uncertainty and this thing will rally. It will be the wall of worry rally. I feel pretty comfortable about that.
Energy prices really have fallen to a distant second as far as concerns for the market. The big concern is whether the Federal Reserve is going to keep raising interest rates and, if they do, whether that's going to slow the economy too much.
Earnings have been much better than we expected, so I'm guessing the Nasdaq situation is purely a result of Dell cutting its outlook going forward.
The data drives home the fact that the economy is slowing and the market wants slower growth. Right now, the market is focused on what the Fed is going to do because the Fed's been a headwind for stocks.
Technically, today looks bad as far as market action goes. It reminds me a lot of late 1999 to early 2000 when people thought the good times would never end. Now they think the bad times are never going to end.
Technically, today looks bad as far as market action goes,
This is really what we needed to keep this rally going. The Fed seems to be recognizing that there may come a time to stop raising rates, and that's very good for stocks.
Most companies want their stock to be appealing to a wide audience.
