Richard Cripps
Richard Cripps
concern last noticeable pickup seen
We've seen a noticeable pickup in concern over the last two months.
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I think if you are bullish here, you go back and look to the last time the Fed eased up on interest rates which was 1995, which, of course, was a good year for investors. The S&P shot up almost 35 percent. So using that as a guide, some investor think that is what we're going to see.
confidence decline earnings last level looking percent sharpest since year
We're looking at a 12 percent decline in earnings this year for the S&P 500, and that's the sharpest decline we've had since the last recession. The confidence level that one has in looking at those earnings is very low.
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Analysts generally can talk to companies during the first two weeks of the last month of the quarter so what we'll be looking at is the beginning of the earnings pre-announcements or commentary for the third quarter.
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.
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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.
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.
reality setting
The reality is setting in on the AOL/Time Warner deal.
broader correction equity focused market point reflecting seen segments shifting
I think that the correction that we've seen in the market averages, in the Nasdaq, is probably reflecting an inflection point for the equity market that's going to be not as focused on technology. It's going to be shifting more into the broader segments of the equity market.
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I would let this play out as opposed to trying to be brave and buying here.
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The big fundamental for financial markets is the economy and earnings beyond interest rates.
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Tradition drives these international markets very, very hard. The concept is interesting, but inevitably, they will find it as difficult, if not more difficult than Europe.
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And while you are waiting, you get a 3 percent yield and one of the strongest balance sheets in corporate America.