The markets are really going to be determined by what the Fed has to say. We'll be looking for more definitive talk from the Federal government and (Alan) Greenspan to get some indication of what the Fed is really thinking.
More Quotes from Barry Hyman:
This is more of a short-term perspective and I don't see any commitment by institutions. But a diversified portfolio is doing well here.Barry Hyman
I don't think the Fed looks at the equity market and makes decisions off the equity markets, but the equity markets are absolutely a reflection of wealth and consumer confidence, ... That is what the equity markets mean in relation to other economic scenarios and that is where (the Fed's) interest is.
Barry Hyman
The PPI number on Friday gave us a little bit of a hint that there most likely will be a hike on August 24th, but that'll be it,
Barry Hyman
I think we are just mired in interest-rate concerns until we get some clarity on rates.
Barry Hyman
For the market to make a convincing case that we've ended the decline, it's going to have to put together a few days in a row of advances or people are going to look upon up days as an isolated situation.
Barry Hyman
I think next week has another opportunity to be another good week.
Barry Hyman
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