Wall Street knows it shouldn't get ahead of itself so traders and investors are likely to go into the new week cautiously as they wait to see if last week's rally was a sign of a turnaround or just a blip.
The market has gotten used to false starts since stocks began their collapse last September. And as Wall Street ran up its biggest weekly gain since November, many analysts warned that this rally would soon fizzle, with stocks pulling back again rather than staging a lasting recovery. Rallies before it have evaporated most notably the big comeback in late 2008.
Last week's surprising rally came on what looked like the start of something positive. Better-than-
"We have seen a positive change here," said Douglas Morgan, CEO at Hoffman Meyer Associates, of the market's sentiment. "It seems like the mentality has changed a little bit."
The Hoffman Meyer CEO continued by saying "All the Fed can do at this point is be clear about the role they are playing and say that they are going to do anything it takes to prop up this system."
Hoffman Meyer Associates is Seattle's leading merger and acquisition, business brokerage firm. As a mergers & acquisition firm, our principals have completed scores of transactions of privately and publicly held companies during the past 25 years.
Over the years, our firm has developed strong relationships with companies and individuals that are ancillary to the mergers & acquisition process including banks, mezzanine lenders, asset lenders, transaction attorneys, certified public accountants, and financial planners. We are also affiliate members of leading merger & acquisition, business valuation, accounting and brokerage associations.
