Instead of worrying about this quarter's earnings and the rate hike, let's look at 1998 now. Let's see what the kind of earnings we can have then. If there's no inflation in moderate growth, those numbers could come in very good, and the market can continue upwards.
More Quotes from Tony Dwyer:
the people that have heard that this Internet thing is pretty neat, buy they didn't want to go out and spend a lot of money on a computer.Tony Dwyer
You would imagine that after a 19 percent gain in Nasdaq and after people thinking about it over the weekend, that they'd be out there selling. But it ain't happening.
Tony Dwyer
That's a likely outcome. For the time being, as long as earnings are so strong, I think the worst of the market's worry about a Fed rate hike has probably already happened.
Tony Dwyer
It's really a continuation of the selling that we saw last week. Sentiment was negative going into yesterday, so a lot of people are using the strength in yesterday's prices to cut losses.
Tony Dwyer
There's a confidence in earnings that is offsetting the other trends. If 62 oil, a downgrade of GM and bombings in London can't derail the markets, what can
Tony Dwyer
This is a market where too many people have already bought. Everybody is already in, so who's going to be the next buyer
Tony Dwyer
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