My sense from just this brief analysis is we may avoid a rate hike in August. If you believe the economy is slowing down, we may be at the end of interest rate increases.
More Quotes from Grace Fey:
If you look at the correction that's already occurred in the leadership group, tech, over the past few weeks, it's been pretty severe. I don't expect that there will be a dramatic sell-off on Tuesday -- stocks will go sideways for a while until people become convinced that, while multiples won't expand, the earnings outlook looks pretty good.Grace Fey
I think we need to have more storms in the Northeast it just makes for a better market. Investors just really, really want to own tech stocks. Ultimately we'll make money on those stocks again but short-term we really have pretty poor fundamentals.
Grace Fey
I think the worry is they are going to say something negative about the third quarter.
Grace Fey
The large cap tech stocks in particular are really looking very, very attractive right now. At the moment, the small investor can start to step in, albeit slowly, because when these things begin, they don't typically turn right around. We could be looking at you know a weak quarter. But some of the large cap quality growth companies look very attractive right now.
Grace Fey
I wouldn't be surprised to see (the Dow) trend lower because markets don't trend up in a time of rising interest rates.
Grace Fey
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