Peter Greene Stock Quotations

My suspicion is the stock is not doing much now, it's not earth-shattering.

The 2003 rally was on low interest rates and a weak dollar. Now, that's changed. The dollar bottomed in February, and I think people are realizing what higher rates are going to mean for the stock market.

The stock looks very attractive, and they have a potential cancer drug and a potential Alzheimer's drug,

The stock market is a discounting mechanism. Many people recently have seen their mortgages raised -- and many people have adjustable rate mortgages -- unfortunately they have been raised. Oil prices are at near highs. It impacts people's discretionary income. And I think we're seeing it in those stocks that would have a relationship to that discretionary income.

The key is what happens tomorrow. How will people interpret what the Fed says? How will the dollar do? The dollar has been hanging in by default, but if it really starts to roll over, that would hurt stock prices.