A lot of this is trader (driven). The gyrations are crazy but it's just sort of a typical reaction. |
A year ago, we were so optimistic, and then that turned into greed, quite honestly. And everybody wanted to make more money and more money. And we just kept on -- stocks kept going up. So, you could just buy anything and it was going up, and everybody got in the game, and it got way overdone. |
After the announcement yesterday, the tech stocks were the stars, and they were really rocking today. |
Cisco is a proxy for the rest of tech. They touch every level of technology in their business. |
Earnings season is always volatile and we're just going to have to watch it. What companies say can throw a monkey wrench into market action or be a catalyst, and we have a lot of big companies reporting in the next few days. |
Events like this generally create major opportunities. |
Everyone is negative, skeptical and pessimistic. No one wants to own tech anymore and everyone is saying valuations are too high. You need some type of catalyst to turn this negative sentiment around. |
Everyone is talking about Cisco getting rid of its inventory problem a little bit faster than people had thought. But the whole Nasdaq is looking better. |
I almost thought that a quarter-point rise in rates was priced into the market. But I think it depends on how the Fed says it or what they do because if it's the first in a series of hikes the market is going to get slammed hard. |
I don't think it's the reason the markets are down, but I think it's a big weight around the market's neck. It's like an anvil. |
I just think it's an extremely oversold condition that hammered the techs and they are due for a bounce. The battle is being waged over how much should be paid for these companies. |
I really think the worst is over. And IBM is the critical reason. |
I think it's all Iraq. [Chief U.N. weapons inspector] Hans Blix is giving his report Monday, Bush is giving his State of the Union address Tuesday and I've got every customer telling me that they don't want to be long ahead of that. |
I think more companies will increase guidance and the rally will continue. |
I think people assume Merrill wouldn't say something like that unless they expect pretty good news from Intel when it reports tomorrow after the bell. Intel is the technology bellwether, so if things look good for them, that bodes well for other techs. |