The market gets extremely concerned on (long-term) interest rates when they get above 6 percent.
More Quotes from Barry Hyman:
Every piece of bad news that comes out in the market ... is ignored, ... looking forward to 2002, in the second-half, when a recovery is going to be in effect.Barry Hyman
A lot hinges on the numbers. If they're good, the market rallies. If we get any suspicious numbers, or more accounting-related stories coming into the fray, we're looking at lower prices again. It's a time of caution and some confusion.
Barry Hyman
I think there are going to be opportunities to buy the weakness because I think the pre-release season will dominate again I don't think there's going to be a significant drop, though. There are a lot of people who buy the concept that 250 basis points (in interest rate cuts) with more coming is going to help.
Barry Hyman
The traditional year-end rally didn't happen this year and the 'January Effect' doesn't look like it's going to occur. This is just a wait-and-see market right now that will continue to be driven by important catalysts, whether geopolitical or earnings-based.
Barry Hyman
Technology has done well, not necessarily because of the crash, but because it has moved up the alert that the market's concentrating on a 2002 recovery. Rather than focusing on the earnings that are going to come out in the fourth quarter, people are looking forward rather than near-term.
Barry Hyman
The bias for today and tomorrow should still be to the upside because of the end of the quarter when you get portfolio adjustments.
Barry Hyman
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