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...
market month point quite run supposed worst
I think the market has done quite well in what is supposed to be the worst month of the year, but at some point you're going to run into an overbought condition,
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.
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.