Richard Suttmeier Quotes
We've left ourselves without support as we're breaking to new lows for the year. 
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We've left ourselves without support as we're breaking to new lows for the year.
- Richard Suttmeier
All year long, it's been a tale of two markets. The momentum on the Dow is declining, and the Dow last week failed at its 200-day moving average, which is declining, two things that are negative for the Dow and for 'old economy' stocks. Whereas on the Nasdaq, since the big correction that we had, the Nasdaq momentum is now rising, and it traded back above its 200-day moving average, which is still rising. Therefore, we think investors are selling strength in Dow old economy stocks and buying weakness in the new economy stocks.
- Richard Suttmeier
If you are a short-term trader you like to see some more gyrations. But certainly from a longer term perspective you want to see the market broaden out, have a very nice looking pattern to it technically so that you are not getting hurt too much in a market that's going to grind higher. It looks like that will continue. My theme is productivity. The Federal Reserve stated that that is a very important point in moving the economy forward. The Fed will allow a stronger growth rate as long as productivity gains remain strong. And I think that's going to be the case.
- Richard Suttmeier