98 ordspråk av Tony Dwyer
Tony Dwyer
(The report) combined with strong earnings growth and merger activity should lead to the upside for the general market.
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[But] what's driving the advance today is the belief that the Fed won't have to pick up the pace, ... That's a big thing. It means that economic growth can continue at a solid pace, and that's lifting stocks.
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[Market players said they expected conditions to remain favorable on Wall Street through the upcoming corporate earnings season. Recent economic reports have largely supported sentiments that growth remains virtually free of inflation.] Short-term interest rates should come down. Long-term interest rates should come down, ... There are no signs of inflation.
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A lot of people are waiting for that climatic whoosh lower,
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Bottoms aren't made easily. Nobody wakes up one day and says, 'OK, we're at the low time to buy.' It's a lot of hard work.
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But that's not to say growth stocks are a sell either. They always grow and ultimately, you are going to make money in any environment.
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Cash flow estimates, we think, are too low and we have a buy on the stock; we think it can move higher here.
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Clearly, there is a pent-up demand, but there has to be a reason to buy. We may see a little technical bounce in the next day or two, but it won't amount to much. There's still too much negativity out there.
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Earnings have grown much more than stock prices. I would be a broad buyer of stocks for the next year.
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Economic growth is going to be much better next year and that's what's boosting stock prices now.
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Equities ultimately follow the direction of corporate earnings, which are still heading higher, I think the market has become extremely attractive no matter what [measure] you use.
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Everybody is done with the year now, so it's just going to be traders that dominate the tape. I think that you're going to see a lot of intraday volatility without much real movement.
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From a fundamental standpoint, the retailing stocks have been hit pretty hard. Staples is as cheap as it gets relative to where it is historically traded on a [price-earnings] multiple basis,
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I constantly hear the market can't keep going higher, that this advance has gone too far to fast and that a major decline is imminent. But every time I try to find an indicator to make me want to sell, I find something that makes me want to stay long and get longer instead.
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I don't know if 'bailing' is the right word, maybe profit-taking is more like it. You have to take into account how much the Nasdaq is up.
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