Richard Suttmeier Quotes
You have so many unknowns. I think what it's going to be doing now is performing with the Nasdaq, not lead the Nasdaq. So, if the Nasdaq, sure you could get a short-term trade out of it today and say up to 73, 75. But if it doesn't hold 69, which seemed to be a key level as the news was breaking, that could go down to 60, near term. That's where I would put some longer-term money in.
- Richard Suttmeier
When we've had company-specific disappointments like this over the past two years, we've seen buyers come in after the midday to snap up bargains. If that doesn't happen, it could be very bad. We could see the Dow at 10,500, which would be a blow less than a week after everyone was talking about tripping over 11,000.
- Richard Suttmeier
The market is looking for that soft landing. If we can get through the productivity unit labor cost next week, and they are benign, and it takes the Fed totally off the radar screen, then we'll get a relief rally, but not a bull market. So we're in a non-bear market, non-bull market. We're in a trading-range environment.
- Richard Suttmeier
It's not a big roaring bull market. It's just a slow but steady climb towards resistance in terms of the Nasdaq. We could get up to 4,400 or 4,600 by the end of the quarter. In terms of the Dow, we're getting closer to resistance and we're in the zone. Maybe we can go up another couple of hundred points.
- Richard Suttmeier
It's a question of how long you've owned it. If you've owned it from 1997 levels, maybe you own from $30 a share post splits. And if that's the case, you want to take a look at how much money did I have invested in Microsoft two, three, or four years ago, how much money do I have invested in Microsoft now, and maybe pare it back a little due to the uncertainty.
- Richard Suttmeier
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