We ran out of gas after yesterday's large advance. We only had earnings news from a couple companies today, and that couldn't carry us.
More Quotes from Paul Nolte:
Hickel Karl Marx's key error is the idea that capitalism develops according to laws, that these laws are described by the tendency of the profit rate to drop, and that in the long run the system must collapse. This hypothesis has proven to be wrong, because capitalism has repeatedly found new ways of dealing with its crises. Through this inevitability of capitalism, Marx underestimates the need for political shaping. ... Marx fundamentally underestimated the nature of liberal democracy, he didn't comprehend liberal democracy. Concepts such as tolerance, civil rights and liberties, parlamentarianism - all these categories went totally unrecognised by Marx, and that had fatal consequences.Paul Nolte
The economic numbers are driving the bus. As long as the numbers remain kind of weak, if it doesn't look like we're getting much of a turnaround, then markets can continue to slide.
Paul Nolte
We're struggling with higher energy prices and also the rise in bonds, which is providing some competition for stocks.
Paul Nolte
There is some concern over drugs coming off of patents and the expense of those drugs, and in some cases, such as with Pfizer and Merck, the efficacy issues, ... But we still can't get away from the fact that we're looking at an aging population and drugs are an integral part of keeping us going as long as we possibly can.
Paul Nolte
Now, instead of every bit of good news being hailed as the latest sign of recovery, it is being scorned as another nail in the coffin for easy money.
Paul Nolte
Overall it doesn't look too bad. The prices paid is a concern. We'd like to see it come down a little. It's an inflationary key.
Paul Nolte
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