Alan Ackerman
Alan Ackerman
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I like two stocks, Apache and Ocean Energy. I don't own either of them. The firm doesn't make a market in any of them. We don't have an investment banking relationship, to the best of my knowledge, but I think both stocks have done well in the poor market, ... Apache is really building a pipeline of reserves. They drill in seven major countries. They're natural gas rich. They have held in this market and I think we can look for big earnings coming up over the next year or two.
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Rate hikes bite different sectors of the economy at different rates. For example, one of the key areas that was hit hard and appears to be slowing down is housing. Consumer spending will take some time to slow down, maybe three to six months out. But in any case, what the Fed is targeting is                  GDP of 5 percent this year and a GDP hopefully next year of closer to 4 to 4-1/4 percent.
bargain economy economy-and-economics feeling hunters next slow year
Bargain hunters are surfacing today. The feeling going into next year is the economy is going to slow down.
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I think gains in the market have outrun fundamentals. The move has been too much too soon. I see the likelihood of a pullback next week.
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The market is attempting to stabilize after a terrific run, ... Many stocks moved up without any fundamental underpinnings and corporate earnings, by and large, look less than impressive. Portfolio managers are looking for visibility of earnings over the next quarter or two.
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Earnings, by and large, are what investors are hanging their hats on, ... Some earnings improvements have prompted some optimism, but we'll know more about that next week.
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However as we come closer to the next Fed meeting, and hopes are that the Fed will cut interest rates, we might have a relief rally.
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I think people need to be concerned about the length of the technology cycle and the inability of most CEOs and analysts to predict the course of corporate earnings over the next several quarters.
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Once again, it's anybody's guess next week. It would not surprise me to see people sell on strength, take a little cash off the table and wait for the markets to stabilize.
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The market next week is anybody's guess. World nations are watching the United States.
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Also, this market still needs the underpinning of improved corporate earnings. We've not got the evidence that that's happening in a meaningful way. I like the way it has stabilized following the sharp moves since Sept. 21, but I am concerned that not enough fundamentals are in place.
concerned corporate evidence following happening improved market meaningful moves needs sharp since
Also, this market still needs the underpinning of improved corporate earnings, ... We've not got the evidence that that's happening in a meaningful way. I like the way it has stabilized following the sharp moves since Sept. 21, but I am concerned that not enough fundamentals are in place.
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I think the market senses something good going on. On the one hand, the feeling is that the economy is starting to show signs of improvement. But there are plenty of skeptics around who say that feeling may be a little premature, and they are selling on strength,
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It will take some type of catalyst to turn this market. One can't be sure what that will be or when we will see it. Meanwhile, valuations are contracting significantly and my sense is that the market is reaching an oversold condition. Much of the market's rebound will have to do with clearing up some of the uncertainties.