John Davidson Until Quotations

Obviously people are focusing on the FOMC announcement, ... Up until last week I was ready to flip over to 50 basis points (a half percentage point) but we've had some economic news that's been pretty good.

Largely people are taking a look at historic information. They're looking at earnings and job cuts, and people are concerned. I think we're going to grind it out until earnings come back.

I think there's also bound to be a lot of hesitation until the election is over,

I think we have continued volatility until we really see signs of growth in the economy slowing. When we see the economy slowing, I think that people will be more comfortable with the fact that maybe Greenspan is not going to have to continue to raise rates, then I think the market can move ahead.

What they say may have an impact tomorrow, but the dominant topic on investors' minds right now starts with an 'I' and it's not Intel. Both businesses and consumers are hesitant to make any moves until there's progress on Iraq.

Even just a month ago, prior to the release of the March payrolls number, there were some investors betting that rates wouldn't rise until early next year. Now, after two months of higher payrolls, it seems likely rates are set to rise, and so there's a certain throwing in of the towel for some investors.

If you wait until the volatility's gone, you're going to be buying at higher prices,