Stock Market Commentary - November 25
Posted on November 24, 2007 in the Commentary, Investing category
.“Odds are, we are already in a bear market,”
Jack Ablin, chief investment officer at Harris Private Bank
“People are buying and selling off the headlines. The market is so emotional. You look at oil approaching $100. People are taking their money and going to the sidelines.”
Neil Hennessy, president and portfolio manager of Hennessy Funds.
“There is a camp out there that the Fed will really cut rates when Dec. 11 rolls around, and that helped us bounce from the session lows,” he said. “If that does come, it will provide some stability to the market. Because of that, there’s some bargain-hunting as people are trying to find that stability.”
Robert Pavlik, chief investment strategist with Oaktree Asset Management,
“You’ve reached a point where the market, if it’s going to remain a bull market, can’t take a great many more hits. “That should leave people erring on the side of caution.”
William E. Rhodes, chief investment strategist at Rhodes Analytics.
“Participants were concerned about the possibility for adverse feedbacks in which economic weakness could lead to further tightening in credit conditions, which could in turn slow the economy further.”
The minutes of the October meeting of the Fed’s open market committee
“Having revisited the lows experienced in August, we’re seeing markets bounce from those lows. There is a bargain-hunting mentality around at the moment.”
Ian Scott, a global equities strategist at Lehman Brothers.
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