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...
begin buys chip chips component demand good meet point slow stocks task turning
At this point, the task of the component suppliers is to find enough chips to meet the demand, ... But there's always the psychological turning point as to when you begin to slow the demand down. I think that's the problem. I think it's been overdone, and I think the chip stocks are very good buys here.
basis investors percentage plate points sold stepped traders
The traders wanted 75 basis points (three-quarter percentage point) so they sold on the news. After the traders sold, investors stepped up to the plate (to sell).
market month point quite run supposed worst
I think the market has done quite well in what is supposed to be the worst month of the year, but at some point you're going to run into an overbought condition,
basis bet early fed goes pays points terms tomorrow trading wednesday
It doesn't tell you anything in terms of the fundamentals. I think there will be a bet made tomorrow (Tuesday) and early Wednesday that the Fed goes 50 basis points (a half-percentage point). If it pays off, I think there will be a trading flurry.
falls gained points since
The Dow is dopey. It gained 1,000 points since mid-April. That's impressive. If it falls 100 points, so be it.
falls gained points since
The Dow is dopey, ... It gained 1,000 points since mid-April. That's impressive. If it falls 100 points, so be it.
arrival basic earnings problem quarter third week
The basic problem this week has been the arrival of third quarter earnings and the non response,
build case empire heard recently regional state street survey until waiting wall
These surveys give regional snapshots, and that's all they do. I'd never even heard of the Empire State survey until recently -- and I don't think you can build the case that Wall Street sits there panting, waiting for the results.
conditions dismal
It was a pretty dismal day. We're really in oversold conditions at this point.
bond competing due earnings economic hovering key morning news note oil weakness yield
The key this morning is the 10-year note hovering around a yield of 5%. This news trumps any economic or earnings data. It's a rate-driven market, even with oil competing for headlines. Any weakness we may see will be due to these bond yields.
asset mergers money people putting taking
The mergers helped, but you also had some asset reallocation, with people taking money out of Treasurys and putting it into equities.
closed delay hurt market microsoft ragged throughout tired
The Microsoft delay has hurt the Nasdaq and will reverberate throughout all of technology. That will be today's big headline. We closed ragged yesterday, so we're going to have a tired market to start.
continue hurdles interest major market oil quarter rates snap
The two major hurdles continue to be oil and interest rates on the Treasuries. The market has demonstrated through the first quarter that we can snap back.
certainly close intel market microsoft ok
The two biggies after the close (Tuesday) -- Microsoft and Intel -- were OK but certainly not a market turn-on,