This is the first day of the month, you may have seen some end-of-the-month portfolio selling dissipating, ... And this is the day that Microsoft is distributing 33 billion in cash, so there is some anticipation of that finding its way back to the market.
More Quotes from Larry Wachtel:
Getting back to inflation, it is important to note that the producer price Index does not reflect wage pressures -- and that is where the inflation threat really lies.Larry Wachtel
This is all promulgated by overseas markets. We started with the festering Asian situation, Russia then spilled over into Latin America, and Wall Street has trouble dealing with all these overseas situations.
Larry Wachtel
Suddenly these inflation figures have a psychological impact.
Larry Wachtel
Confession may be good for the soul, but not on Wall Street. The negative pre-announcements that have been with us for the past two weeks has begun to accelerate with 21 confessions yesterday (Wednesday) and a handful this morning. This sets up some fear and trembling about the wide range of reports to come through most of July.
Larry Wachtel
The market finished sloppy yesterday and it rolled over into today. We've been resilient, though. We're coming to the end of the quarter, so there's a lot of speculation popping up as to what earnings are going to look like.
Larry Wachtel
The differentiation is where the recession is coming from. When you're in a consumer-housing situation, the rate cuts have a very dramatic effect and hit much sooner. But when you're in a manufacturing recession involving overcapacity and inventory overhang, it's not going to make people borrow.
Larry Wachtel
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Based on Keywords: dissipating, distributingMan hands on misery to man. It deepens like a coastal shelf. Get out as early as you can, and don't have any kids yourself.
Philip Larkin
Philosophers are adults who persist in asking childish questions.
Isaiah Berlin
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