I'm sure we'll see more of them, |
I'm very optimistic, looking out a year or two. |
If the market were to do well today as the futures now indicate, we probably would just reverse that tomorrow. So I don't think you'll get much in the way of a trend. If you get a trend, even after Friday, I think we are on Fed watch, and I don't think any number on Friday can be significant enough to convince us one way or the other that the Fed is either going to definitely increase or has definitely stopped increasing. So we're treading water for a while. |
Intel and IBM both are down quite significantly from their 52-week high. I think IBM is about a 25-percent decline and Intel almost that. I don't know where the bottom might be on these, |
Intel by itself is being powered by very good earnings progression, very good gross margins, and all that is helped by the spreading use of the Internet. But I think Internet stocks and Intel are a world apart, ... Business Day . |
It's a shift like a drunk at a party looking for one more thing to do -- and I suspect it's not sustainable, |
It's going to be a different game than I would have thought. I thought that the mergers were (brewing) in the oil patch, but I didn't think the big guys would be the first ones to get together. |
It's starting to feed on itself, which is the anxiety which marks the bottom. |
Its earnings don't change that much, its only our perception of the earnings that change. |
Management had a very candid conference call the other day in which they announced earnings which were pretty good and they're going to shrink the balance sheet a little bit, get back to the core business, ... They announced a 30 million share repurchase program. The stock is trading at about nine times (earnings). I think it looks pretty good. |
Margin calls tend to precipitate a sell-off, and you've got to figure that part of this action today was due to the initial thrust of the margin calls' feeding the selling. |
Mix and match the risk. If you do it well, your growth guy is not going to correlate with your value guy -- but it will keep you in the game, ... If you're all in one style and it goes bad, that's the worst thing you can do if you want to build wealth over a long period of time. |
Most of the exploratory dollars are going to go to the great big prospects. And I think this will really impact the oil service companies' ability to continue their profit growth. |
Mr. Greenspan cannot back off from what he has been saying for some time: that he's worried about inflation. There's no reason to. The markets are kind of going his way. The economy seems to be slowing down. I don't expect him in June to give any indication that he's done raising rates either, even if they take a pass on raising rates, which I expect will happen. He's just got to wait and see. And he's not going to give any early indications otherwise. |
No matter what happens (incoming AOL CEO Richard) Parsons and gang are going to concentrate on calming market expectations. Period, |