Al Goldman
Al Goldman
appears bond concern excuse fed financial hike increased investment nervous predicting rates three
We have a very nervous investment environment. The excuse is bond rates are up and there is increased concern about the financial futures market, which appears to be predicting three more rate hike for the Fed funds.
beyond bigger faced history horrible looking mind nation peaks shift valley
We need a mind shift to looking beyond the valley to the peaks ahead. We have to look at the history of the nation after it's faced other horrible disasters. We always come back bigger and better.
based bull dance expect four good night teenager three
We can't expect it to dance all night like it did three or four years ago. It's not a teenager anymore. But it's still a bull based on good fundamentals.
turnaround
We do have preconditions in place for that turnaround in sentiment.
buy buying classic opportunity picture regretting yesterday
Yesterday was a classic buying opportunity and those who didn't buy yesterday or sold, are regretting it today. The big picture is still a bull.
bear bowl caps market super
We're already in a bear market for small- and mid-cap stocks. Big caps have been in a Super Bowl market and we are correcting that.
bad turned
This is not a bad day. We started up and we turned around and now we're doing better.
normal seen
This is normal and overdue. But we've probably not seen the bottom.
momentum profit taking
This is long overdue profit taking in the momentum stocks.
basically believe degree favor fed good hates interest market next odds raise rates summer unless
The market hates surprises. But we believe the odds substantially favor that the Fed will not raise interest rates next week, and that the market will take that as some degree of relief, unless they say something nasty. But basically we think we're into a good summer rally.
deeply economy fact fiction healthy itself looking market months people rather seeing six
The market got itself deeply oversold after six months of correction. Now people are looking at fact rather than fiction and seeing the economy has already slowed to a healthy and sustainable rate.
arises creates employment high level problem wage
A high level of employment is not a negative, it's a positive?. The problem arises if, in fact, it creates wage inflation. And we're not getting that,
bad bonds bull good market normal pause remains subject underlying vulnerable
The market was subject to a very normal pause to refresh. Why not ? Bonds have been up big. The market had been up big. We were vulnerable to good news, bad news, no news. The underlying bull market remains very positive.
concern greenspan market supposed upset
The market has way overplayed concern over inflation. Greenspan did what he is supposed to do. When things look great, he has to look like he has an upset stomach. When things look bad, he has to be all smiles.