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...
coming economic sidelines signals strong
Basically, the (people on the) sidelines are coming in. The economic signals are just too strong to ignore.
action amazed market shows sideways strong
I'm amazed at how well the market has held. This sideways action shows a very strong market.
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.
bad coming data earnings economic expecting fed good hike increasing likelihood likely news phenomenon rate strange street stronger
We have good earnings today, but there's just too much good economic news. We're increasing the likelihood of a rate hike in June. The data are coming in stronger than expected, so the Street is expecting another hike. The better the news, the more likely the Fed will tighten. It's a strange phenomenon that good news can be bad news.
strong struggle moving
It's becoming a day-to-day struggle between bears and bulls. Once oil and yields move to highs, the bears take advantage. Those are the twin dreadnoughts of the market. But earnings news has been strong and has kept bulls on top.
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,
doom gloom negative period statements
We're going through this pre-announcement period where all the gloom and all the doom and all the negative statements are being made.