Larry Wachtel
Larry Wachtel
Larry Wachtelwas a stock, bonds, and equities commentator on the New York City metropolitan area radio. He added a populist flavor to his commentary on the stock market and spoke in a thick Brooklyn accent...
gain quarter remember reported second
Second quarter is going to be excellent. Remember when the first quarter was reported in April, we had a 1,000-point gain in the Dow, and that was only a 10-percent (earnings) gain.
apple catalyst earnings expecting far mixed positive season waiting
So far the earnings season is kind of a mixed bag. It's not the catalyst that everyone was expecting it to be. Nokia was disappointing, Apple was positive and Citigroup is in the middle. We're still waiting for IBM,
action amazed market shows sideways strong
I'm amazed at how well the market has held. This sideways action shows a very strong market.
completing data fail fourth market quarter relevance
We're completing the first quarter now, but we're still getting data from the fourth quarter. This is old news. I fail to see what relevance this will have for the market today.
cavalry charge close drive forward prior
Now, this day prior to the long weekend, I don't think we'll have the cavalry charge at the close today. But I think this has legs. I think it could drive forward to, say, Dow 8500.
aggressive doubts february federal figures guidance intel job kicked negative raise reserve selling strong turned wave
Negative guidance from Intel kicked off a new selling wave in beleaguered technology, while the February job figures turned out to be strong enough to raise some doubts about aggressive Federal Reserve ease.
average beyond companies gotten pocketbook price split stock
Obviously, companies split when the stock price has gotten beyond the pocketbook of the average investor.
days fail good negative slightly three
It's been a slightly negative day, but after three good days and three good months, I fail to see how this is going to be a significant problem. It's just a breather today.
draw eventually inventory kicked mean primarily work
It's primarily a manufacturing recession. Just because it hasn't kicked in yet doesn't mean that eventually it won't work its way through, but it has to be accompanied by this inventory draw down.
analyzed auto core couple deals inflation items markets numbers prices rate realized reason tobacco took
There were a couple of one-shot deals in the PPI -- auto prices and tobacco prices. If you took those two items out, the core rate was up 0.1. That's the reason why the markets have come back a little. I've analyzed the numbers and realized that this is not inflation out of control.
backdrop blue cautious continue cyclical fed heading movements papers path stocks toward wall
There's a cautious backdrop (on Wall Street). We're heading to that glide path toward the Fed meeting. I think there has been a gravitation toward the cyclical stocks and away from the blue chips. And I think we'll continue to see movements into the papers and the metals.
challenged chasing few good legs near nuts rally
It's a good rally and it's got some legs for a few days, but I wouldn't go nuts chasing after it. It's going to be challenged in the near future.
sitting stocks
It's not like stocks are sitting there unloved. They have done well.
gratifying tomorrow
It was a very gratifying day. But I'd like to see some follow-through tomorrow (Tuesday).