27 ordspråk av Peter Canelo
Peter Canelo
As Clinton's fortunes have gone up and down, the dollar has moved in the same direction.
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But even if you see a low in the technology stocks, I don't necessarily think that it necessarily means we are going back to the races.
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Everybody is all excited about this, but the Dow is the last one to go to the party.
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Everybody's doing well and that will help propel the market to new high ground.
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For the first time in this cycle I'm getting a little nervous.
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Foreign investors tend to be worried when there is talk of impeachment because they don't always understand our system. That is important because it was precisely Europe that contributed heavily to buying in the U.S. I don't know if they are selling right now necessarily, but it's a pretty good bet that they are not buying.
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I think techs are not as overvalued as some people believe. I think they're going to have incredible earnings next year and I think they're going to lead an upside break out in the market, which should begin sometime in the middle of the fourth quarter.
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I think that's going to be a real plus.
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I think the index has failed to keep up with the times. There are too many companies missing.
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I think the market is clearly getting used to the idea that the Federal Reserve is going to raise rates. I don't think it's a question anymore of whether they do it in March or not. If they don't do it in March, they (will) do it in April. The real question now is how much do they do it (and) when they do it.
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I think the market will stay on the defensive until mid-May when the Fed meets again, but my guess is they won't [raise the rates].
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In the last three years, bonds have done OK, with yields around 6 percent. But the stock market has more than doubled.
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International investors get scared and pull their money out of these stocks. They don't know what impeachment is, they don't care about the fine points. But they're scared.
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It could be an extended consolidation in the 'new economy' stocks that could take us through the end of the year.
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It's just telling you that the selling has been done, and now investors are coming in looking for bargains. The bulls are back in the saddle.
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