Richard Cripps
Richard Cripps
analogy bad energy good higher interest oil prices straw
It's the analogy of the straw and the camel's back. We keep loading the camel's back with straw and higher energy prices and interest rates. It's probably going to be what's good for oil is going to be bad for the rest of the market.
beyond earnings economy economy-and-economics financial interest markets
The big fundamental for financial markets is the economy and earnings beyond interest rates.
driven microsoft
It's all driven by Microsoft at this point.
basis cut good looking market percentage point quarter situation
We've set up a situation where a 25 basis point (a quarter percentage point) cut is good but you're looking at a market that's desperate.
concern last noticeable pickup seen
We've seen a noticeable pickup in concern over the last two months.
reality setting
The reality is setting in on the AOL/Time Warner deal.
buyers certainty keeps lack prefer
What this does is it keeps buyers away. It's a lack of buyers. And they would prefer some certainty.
facing higher interest prices rates rising starting stock themselves
We're facing the realization that rising (interest) rates and rising stock prices are incompatible. The higher rates are really starting to make themselves felt.
area buy good investors keeping lack market question whenever
Whenever the market is as oversold as it is right now, it's typically been a good idea to do some buying. The question is what to buy and the lack of a 'go to' area is keeping investors on the sidelines.
acceptable august coming continuing economy fear fed inflation interest meaning move needs numbers price raise raising rates signs toward
I think (the market) needs the ECI price deflator numbers coming in at acceptable levels, meaning that they don't raise the fear of inflation, it needs the Fed not raising interest rates in August and as we move toward the fall, continuing signs that the economy is moderating and that inflation is low.
capital companies consumers economic highlights looking private rather relying sector transition
Wal-Mart highlights an economic transition from relying on consumers to relying on the private sector and capital spending. So, we're looking more at companies like Caterpillar rather than Wal-Mart.
catalyst earnings economy economy-and-economics estimates high looking lost moving second
You've lost your earnings catalyst so we're moving away from the second quarter. With the economy moderating you're looking at earnings estimates that are too high and have to come down.
buying earnings fight final flowing money optimism point stocks tone turn
You're getting money flowing back into some of these big stocks and the tone is good. What's powering it is optimism that at some point and time, we're going to get this final turn in earnings -- it's buying with the thought that you don't fight the Fed.
bear nature steps
This is the nature of bear markets. There are usually two steps forward, one step back.