Last quote by Phil Orlando
Phil Orlando quotes
So when the Fed said no rate hike'; the data does not support it, you saw a knee-jerk rally that the Fed got it right for once.
With everyone on one side of the boat, pricing a Hillary presidency, if suddenly something should happen such that people think that maybe Trump has a chance, that certainly increases volatility.
August, September and October, this is the wrong time of the year historically to get really aggressive, particularly given all these uncertainties on the horizon.
Bad news is good news. This report was so terrible across the board that the market is thinking rationally the Fed ... is not going to be so cavalier as to raise rates in September.
If I'm the Fed, I just sit on my hands, wait for December and hope for the best.
We had a couple of good data points and on that basis the market has continued to grind higher.
Investors are just whistling past the graveyard here. There is a lot of ugly stuff on the horizon that everyone is just sort of ignoring.
It just strikes me there are just too many things that can go wrong over the next couple of months.
We're not overly pessimistic. We're realistic that the data right now doesn't support an aggressive Fed. We feel really good about December, but July or September is going to be a tougher call. The data's got to support that, and right now, that's a crapshoot.
We're moving away from growth because the economy is decelerating and investors are starting to play defense.
Investors are scared to death.
This is a tsunami of negative psychology being driven by China.