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...
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.
april doubt earnings fed good quarter reported
Once we get to April and the first quarter earnings are reported -- and I think they're going to be pretty good -- (that) could be helpful. I doubt if you'll get anything out of the Fed meeting.
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.
sitting stocks
It's not like stocks are sitting there unloved. They have done well.
amazon below both decent microsoft quarter results yesterday
A lot of the results yesterday have been a little disappointing. Microsoft had a decent quarter but was a little below expectations. It was the same with both Amazon and Coke.
narrow
so you can see how narrow (the rally) really is.
followed period spur summer twilight
I think we're in the twilight zone. You have the confessional period followed by the summer doldrums, so there really isn't anything that's going to spur it to the upside.
components cyclical economy fed sensitive slow weak
The Dow components are weak because the Fed is threatening to slow the economy down. Its cyclical components are the ones that are most sensitive to that.
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.
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.
last selling snap week
The selling last week was so extreme, there had to be a snap back.
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.
electronic estimates exciting gear research sell tan
I also like Tandy ( TAN : Research , Estimates ). They sell all the electronic gear that is so exciting on the dip.
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).