Donald Selkin Rally Quotations

If we can go steady for the rest of August and September, we could set ourselves up for a nice rally in October.

It's such a knee-jerk reaction. I don't think that what the Fed said justifies the kind of reaction we saw. I would like to think that we could rally back after the certification is completed tomorrow, but I don't know. I am just stunned by the extent of this decline. Hopefully, it was a one-time reaction.

There seems to be a little bit of shifting into some of the beaten-down cyclical stocks. They are rallying off of oversold conditions.

This is the worst thing you want to see before major events. A huge rally that was really not based on anything substantial, ahead of two major events, is the market setting itself up for disappointment.

I'm encouraged. You get a strong rally for a few days, a couple of days of selling so people can take some profits, then new buyers come in at the lower level. That's the classic definition of an uptrend.

I'm not so sure that the rally was commensurate with the news out of the Fed. They seemed to say that they're going to keep rates low for a long time, which wasn't a surprise, but maybe people felt better seeing it spelled out more clearly.

The IBM earnings were good, but is this enough to turn things around?. I guess the futures could rally overnight, but as it stands, we're headed toward a lower open.

Some late talk was circulating that they would move their bias. We also saw the market rallying strongly into the decision and we sold off on the disappointment. I believe we're more on the way to a soft landing.