Tony Dwyer Market Quotations

Nobody can figure out what's going to happen with the market -- they're all guessing. Let's say CNN or Fox or MSNBC brings up a picture of a GI in a bad situation. The market takes a dip. Is that a fundamental or a technical move? No, it's a war-driven, live-video stream move, which means it's totally unpredictable.

That fact alone could act as a stabilizing force for the market this week. The U.S. consumer has been the linchpin of this economy. So this number doesn't bode well, especially as we enter the Christmas shopping season and retailers are already suffering because of the West Coast ports dispute .

We've had a market where negative news on the economy and the corporate profit picture have dominated. Companies may have beaten lowered estimates, but we're expecting weak economic reports this week.

We could pull back a bit, but it will be limited to about a 5 percent decline and it will be quick. This market rally has not been about buying interest, but about the total lack of selling interest.

This is a market where too many people have already bought. Everybody is already in, so who's going to be the next buyer?

Nothing for the time being suggests more than a moderate pace of rate hikes. There is a bit if nervousness out there. The other thing is that the market has had a good run and this is a normal pullback with a little bit of profit taking going on.

Instead of being a new bull market starting, this is just an oversold bounce from the downtrend, ... The sharpest rallies occur in bear markets and right now, everybody is like a deer caught in the headlights.

Instead of worrying about this quarter's earnings and the rate hike, let's look at 1998 now. Let's see what the kind of earnings we can have then. If there's no inflation in moderate growth, those numbers could come in very good, and the market can continue upwards.

Investors, analysts, everybody that has anything to do with Wall Street is looking for the market to go down. And in that environment the sentiments becomes so negative that there is only one direction that the market can go, and that it up.

I constantly hear the market can't keep going higher, that this advance has gone too far to fast and that a major decline is imminent. But every time I try to find an indicator to make me want to sell, I find something that makes me want to stay long and get longer instead.

The market has done poorly over the recent couple of days and weeks. Three weeks ago, the fundamentals were improving and all was well with the world. Now there's depression back on Wall Street and it looks like the 'Santa Claus' rally is not going to happen. Having said that, this market is also driven by emotion.