Terence Gabriel Quotations

It's that one-two punch. You downgrade Intel yesterday, you downgrade Micron today and it ripples all through technology - even the strong stocks can't hold up.

The market is still looking forward to discounting a neutral stance by the Fed.

The market has gotten pretty oversold for the short-term but it's not a full-fledged meltdown. There's so much rotation going on with people saying they will stay in the market no matter what.

Downgrades outweigh upgrades and fear outweighs greed. This is not a market that can weather uncertainty and it's been pretty brutal.

I still think earnings reports are going to be very good. I think we're getting to the end of rate hike situation on the part of the Fed.

Especially with the numbers actually coming out, the tendency for this market has been to get out of those stocks reporting earnings a day or two before the report because after they report, it's going to be downhill.

We are probably going to see another 75 basis points.

We don't yet believe that consumer spending is going to slow dramatically even though there has been a lot of volatility in the stock market. Obviously there are a lot of investors out there who were sitting on big losses from stocks they bought from February through March. But we still see the economy as moving along strongly.

The election is exaggerating the short term, but it's not the issue. The issue is the deceleration of earnings and the contraction of multiples because prices got way out of whack with what future earnings were going to be.

We're in a bear phase here, and certainly any kind of negative news out of the Middle East that affects oil prices is going to be another issue that the market is going to have to deal with. Obviously, some people are very concerned that one thing leads to another, and then you get a bad news one day, and worse news Saturday kind of thing.