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...
bring economic federal figures inflation job pace rash signs slowing street week
The abbreviated week will bring with it a rash of economic numbers, culminating in the May job figures on Friday. The Street would like to see some signs of a slowing economic pace so as to assuage the inflation junkies on the Federal Reserve.
gasoline hurting penny spend
Low-end consumers, the ones that spend every penny of their paycheck, are really hurting with these gasoline prices.
declining losers performance ratio shows since worst
On Friday, we had a ratio of 12 to 1 of losers to winners. That's the worst performance since 1997. We also had over 3,000 declining issues. This shows real weakness.
analyzed auto core couple deals inflation items markets numbers prices rate realized reason tobacco took
There were a couple of one-shot deals in the PPI -- auto prices and tobacco prices. If you took those two items out, the core rate was up 0.1. That's the reason why the markets have come back a little. I've analyzed the numbers and realized that this is not inflation out of control.
backdrop blue cautious continue cyclical fed heading movements papers path stocks toward wall
There's a cautious backdrop (on Wall Street). We're heading to that glide path toward the Fed meeting. I think there has been a gravitation toward the cyclical stocks and away from the blue chips. And I think we'll continue to see movements into the papers and the metals.
consumer earnings future numbers oil price psychology
The earnings numbers are still respectable, but they are softening. The psychology is that you can't make projections about future earnings without having some sense about where the price of oil is going and what the consumer will do.
appeals await drama fades high void
The high drama was yesterday, and now it fades into the void as we await the appeals process,
arrival basic earnings problem quarter third week
The basic problem this week has been the arrival of third quarter earnings and the non response,
catalyst fed hints major market move raising stop
If the Fed even hints that it will stop raising rates, that would be a major catalyst to move the market higher.
claus except next santa sink teeth
There's nothing really to sink your teeth into next week, except for the possibility of a Santa Claus rally.
correction gulf impossible market rest somewhere technology wide
Clearly, the gulf between technology and the rest of the market was so wide it was impossible to sustain. And there had to be a correction somewhere and the correction is under way.
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.
economy fed seeking slow
If the Fed is seeking to slow the economy down that's always the conundrum,