We are just about to move into the pre-announcement season when companies start to tell you how wrong you were about earnings estimates, |
We've got deteriorating economic fundamentals still. We're probably in a mild recession, but the question is will the consumer keep buying and will the investor keep buying stocks. |
What we have is a very small marginal edge of a positive view on this. Wall Street is cynical. |
When you get a move like that in the last few days, it tends to continue. A [single] Fed rate hike isn't going to stop this market - it's not enough. The question is will the Fed keep raising rates until the market corrects itself. |