Hi Gary,
Hope you're okay this weekend! You shouldn't be shocked on the impact of interest rate increases on this market. It's all happened before, so no shock should be in order. In fact, in my opinion, it was the only thing that could have brought this bull market to a halt. And now, it's very questionable, even if the FED ceases on rate increases, whether the damage hasn't been done already. The Economy as a whole has to feel these past increases, but it does take time, which in itself surprises me, because the FED should give these past raises time to digest! Anyway, the Market always needs reasons to do what it does, so in Cisco's case, it's a reason to highlight it's valuation, like it was, all of a sudden, a surprise! Yeah right!
The overall sentiment in the Market now is "why should I buy now when I can get it cheaper tomorrow!" And with that philosophy built in now, it's very hard to see why any buyers would step up to the plate. But, after following the Market for so long, I do know that "this" market is far to unpredictable, when you think you know what's happening...YOU DON'T! Good Luck to us all, because you need a little luck too!
Howie |
