One of the main focus of course, is earnings, and it never helps when companies are warning about declining profits. |
One of the most extraordinary things about technology stocks is that they're the first ones to crack under any pressure in the marketplace. Investors wax from enthusiasm to extreme distress very quickly with that group more than any other. |
Right now, the slowdown in PC sales I tie to the Pentium III, |
Right now, the slowdown in PC sales I tie to the Pentium III. |
Technology is becoming the primary consumable. |
The big-cap technology leaders are doing reasonably well, ... I still believe technology companies will provide leadership. They will be followed alongside by pharmaceuticals and financials. |
The bond market still believes that the Fed is an inflation fighter, the bond market still believes that there really isn't inflation today, and they applaud the moves by the Fed to be ready for future, |
The devil's in the details. The key deadline for Iraq is Dec. 8, when it will have to come clean about what they have by means of weapons of mass destruction. It remains to be seen whether the United States and the U.N. are satisfied with those explanations. |
The economy has proved itself to be vibrant. Inflation is clearly in the bottle. The dollar is back on track. Japan is struggling again. The Europeans want to get out of recession. Rates don't go up in that environment. We've got a market that is going to go off of earnings with a lot of positive momentum and start to hit new highs. |
The enthusiasm investors have for stocks that have rallied us back to record levels will continue in place for the future and now that technology stocks are starting to run again, ... It's only going to add more fuel to the fire. |
The enthusiasm investors have for stocks that have rallied us back to record levels will continue in place for the future and now that technology stocks are starting to run again. It's only going to add more fuel to the fire. |
The government contributed to that strength by spending more. Retail stocks had a good first quarter because with the strong economy, consumers had flexible spending power. The retail sector still has the power to outperform for the rest of the year. |
The market anticipated a very weak third quarter. There was concern this would roll over into an on-going problem. Once we have evidence that it is not and the third quarter comes in a little better than expected, that will be the basis for the next leg up, |
The market can correct here and work its way down to 7,500. But it's all in the context of proper valuations and a broadening process that will include small and mid-cap stocks. |
The market is being very rational where it's placing capital and the companies that can grow their unit volume, get revenues and earnings going at a 30 to 40 percent clip are being rewarded accordingly, ... I see nothing irrational about it. |