Now the focus is back on individual stocks, their merit and their fundamentals, ... That's where the confusion comes in. Everyone's hoping for a strong second half, but everyone knows the near term will be sloppy at best.
More Quotes from Charles Payne:
Fridays have been the toughest day for stocks, ... We've been looking for a catalyst for the market in economic data. I believe this is a market that wants to trade higher. There's a lot of money on sideline that wants to commit. All they need is one sign.Charles Payne
If you can't handle volatility or the near-term gyrations, it may be early for a really conservative investor, but those who can handle a little bit of roughness can do extremely well.
Charles Payne
However, there's some concern as to what 25 basis points will really do, ... The time to look at the Fed's impact on stocks may not really be tomorrow, but rather Thursday. If we only get 25 points and then weekly jobless claims are really poor, you could see some selling.
Charles Payne
I think it's a little too late to really tout short selling. These aren't strategies you can employ and not be able to watch the market.
Charles Payne
Payne's second selection is travel firm Cendant. It has four or five different household names in terms of travel. When Enron popped up, this stock went from 21 to 15 almost for no reason except they were guilty of some accounting issues in the past, ... I think the company is starting to recoup its reputation. I think when the stock gets above 20 it's going to attract a lot of buyers.
Charles Payne
I think it's a matter of the market running out of steam, and maybe everyone realizing we've come too far too fast. The stocks have moved ahead of the fundamentals.
Charles Payne
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