Douglas Cliggott Market Quotations

I think the key in the market is technology, because what has been giving us this extraordinary earnings growth is spectacular earnings growth from a lot of tech companies. They are telling us the second half is going to be slower. So I think the broader market earnings trend is going to be not sharply down, but trending down.

Market participants have shifted focus from the immediate event of the Fed meeting to a longer-term view.

Technology is such a huge part of market cap right now; if that part of the market is performing poorly, it's really tough for the other indices to go up.

It's hard to disagree with Greenspan. Our own market view is equities are fairly valued, but they had a tremendous period of catch-up last year and the year before when they were very undervalued We would expect only 7, 8, 9 percent price appreciation next year.

The market is adjusting to a trend that the market hasn't lived with in some time. Inflation is going up and interest rate are going up.