Today was the first time we saw the 'dot-com' [Internet] stocks actually pull back? but instead of dragging the rest of the market down, the rest of the market went up, ... I was very, very impressed. In other words, we don't need the Internet stocks for leadership - we've got other names. |
Tomorrow's employment report is critical for the market, |
Tomorrow's employment report is critical for the market. Investors are hanging on every number that we get. Anything to do with consumer spending is key because consumers have been supporting the economy. |
Unfortunately, what has precipitated this decline is a real fear of interest rates rising. Personally and professionally, I think interest rates go a little higher than most people expect and until that happens, until we see the end of that fear, I think the market between now and the end of June is going to be very, very nervous. |
We give the market the benefit of the doubt that the near-term strength will carry through to the upside, |
We've been bullish for a little over two years. What was in place for two years is still in place: blue chip leadership and the flow of funds. |
What changed? It was Greenspan. |
What makes a bull market live is rotation, and we have the rotation. |
You'd hate to think that one person could do this. But I think the popularity of business shows, and all the media attention that [trading activity] gets, I guess [comments by market strategists] becomes a little bit of a catalyst. |