We're no longer in a buy-and-hold environment. You have to be much more active in sector allocation. That's where the future of this business is going.
More Quotes from Jack Ablin:
We have some very ugly numbers. You can argue that the ISM is still backward looking, and maybe even the jobless claims, but eventually we're going to need some evidence that the economy is improving. We had a lot of enthusiasm coming from earnings, but the news today is a little bit of a slap in the face that we're not out of the woods yet.Jack Ablin
Between leading indicators and subdued inflation expectations, it's really set a nice backdrop for the market today,
Jack Ablin
What I worry about is that if the Fed continues to tighten, they could commit the same error they have done every time since 1980 and cause a financial crisis.
Jack Ablin
The world assumes the Fed will raise the rates by a quarter percentage point, that's a non-event. It's what the statement lays out about the pace of future rate hikes that will be important, because that's what people are thinking about. I think the inflation reports will also be pivotal next week.
Jack Ablin
The GDP upgrade could put more pressure on the Fed. At the same time, we're losing ground with the consumer... From the perspective of today's market, it's a one-two punch.
Jack Ablin
You needed to be a meteorologist to make money in this market.
Jack Ablin
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