16 Quotes by Richard Suttmeier

If we fall below 7,700, we're looking at a potential fall to 7,200, where it was in October. That's a 500 point range, but it's one we could stay in for a while.

Greenspan is at risk of losing his credibility, based upon the fact he was so upbeat two or three weeks ago, ... If they don't bring rates up at this meeting, he will lose credibility -- that would send a horrible message to markets.

I think we've set the stage for a year-end rally.

I think there's still a lot of investors -- particularly the shorter-term investors -- who are looking to sell strength. They're trying to shore up their accounts by selling strength in this market. They've just had a lot of problems and they were obviously some hurting portfolios, if you will, based upon the declines that we saw for March and for May.

We've left ourselves without support as we're breaking to new lows for the year,

You have so many unknowns. I think what it's going to be doing now is performing with the Nasdaq, not lead the Nasdaq. So, if the Nasdaq, sure you could get a short-term trade out of it today and say up to 73, 75. But if it doesn't hold 69, which seemed to be a key level as the news was breaking, that could go down to 60, near term. That's where I would put some longer-term money in.

What I don't want to see is the Dow fall below that October low, because then you're in danger of seeing a Dow 5,000 scenario.

When we've had company-specific disappointments like this over the past two years, we've seen buyers come in after the midday to snap up bargains. If that doesn't happen, it could be very bad. We could see the Dow at 10,500, which would be a blow less than a week after everyone was talking about tripping over 11,000.

Bill Gross may have the most fixed-income assets on the planet but his ability to forecast what the Fed may or may not do is not very good,