We're cautious [ahead of the next FOMC meeting], |
We're sort of in uncharted territories because of the bubble that we had last year in Nasdaq, ... And the bursting of that often takes a long time to work through. |
We're still in a negative trend. Long-term interest rates are too high, earnings estimates are still too high. We've had seven out of eight down weeks, so we saw a little bounce in the beginning of this week. But the downward pressure hasn't eased. |
What we look for is consistent growers where the earnings haven't disappointed, ... We have a few of those in mind, some of the traditional growth stocks. General Electric is a good example. |
You have to put it in the context of a bull market that's just been phenomenal. The market entered Dow 10,000 in a vulnerable position. |