Technology is part of the increasing productivity trend, and people want to own shares in the companies that mark this trend. |
The bad news is already priced into the stock, ... It's worth buying at these levels. |
The major trend in the market over the last couple of weeks has been uncertainty. Uncertainty about the Fed, uncertainty about earnings, and we're seeing a continuation of that today. |
The market is due for some type of correction. I'm not going to be surprised if we see one, given the geopolitical risk. |
The market's looking for new leadership. |
The profit recession is here and people are still uncertain as to when things are going to come back. There's still a lot of nervousness. |
This is a market of extremes, and what you've seen is the extreme to the upside, especially in technology, and extremes to the downside in everything non-tech. What you have to do is to pick the better quality companies in terms of the value companies. |
Those are the stocks that have worked this year. There's a lot of argument right now in the marketplace about valuations; the top 50 stocks in the S&P are way overvalued. You have to stick with the horses that have gotten you to where you are on a year-to-date basis, and I believe those are the stocks that will carry us after the correction that we're in the process of having right now through the end of the year. |
We're still dealing with very healthy numbers. You're going to see the market break out. |
You have to continue to buy the stocks that are leading the market, and for the foreseeable future, that means technology. |