This is a market where too many people have already bought. Everybody is already in, so who's going to be the next buyer
More Quotes from Tony Dwyer:
Nothing for the time being suggests more than a moderate pace of rate hikes. There is a bit if nervousness out there. The other thing is that the market has had a good run and this is a normal pullback with a little bit of profit taking going on.Tony Dwyer
The combination of weaker industrial production and weaker consumer sentiment number
Tony Dwyer
Market players said they expected conditions to remain favorable on Wall Street through the upcoming corporate earnings season. Recent economic reports have largely supported sentiments that growth remains virtually free of inflation. Short-term interest rates should come down. Long-term interest rates should come down, ... There are no signs of inflation.
Tony Dwyer
That fact alone could act as a stabilizing force for the market this week. The U.S. consumer has been the linchpin of this economy. So this number doesn't bode well, especially as we enter the Christmas shopping season and retailers are already suffering because of the West Coast ports dispute .
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
I constantly hear the market can't keep going higher, that this advance has gone too far to fast and that a major decline is imminent. But every time I try to find an indicator to make me want to sell, I find something that makes me want to stay long and get longer instead.
Tony Dwyer
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