Brett Gallagher
Brett Gallagher
fallen far market tends
Once the market has fallen far and fast, there tends to be a pause.
add demand energy opportunity view
Demand will keep energy tight. Any pullback I view as an opportunity to add to positions.
anybody asleep originally people
Anybody who was asleep through all of this is getting jolted awake. A lot of people are back to where they were when they originally started investing.
bad drive earnings economic either few front good last market news next season seen trading vulnerable
We've seen more bad news than good news on the economic front over the last few weeks, but the market has been trading higher. Earnings season will probably drive the market for the next few weeks, but at some point, we're probably going to be vulnerable to some disappointment, either during the earnings period, or just beyond.
anyone earnings expecting heading quarter season starting
The quarter is starting off pretty rough. We're heading into earnings season and I don't think anyone is expecting anything good.
closer employee estimate intel number says truth value
Intel says it can't put a number on the value of employee options. But any estimate is closer to the truth than zero.
consumer future gains increasing laying leg longer negative people rate savings
In our view, we're going to have another down leg here because of the consumer. If you keep laying people off, that doesn't bode well for future consumer purchases. We have a negative savings rate and we no longer have the gains from the portfolios which were increasing wealth.
died fish market
I had fish for a while, and after they died the market didn't do so well.
early earnings horizon ignoring investors looking major power quarter roadblocks short staying third
Investors have been ignoring earnings and looking forward, pretty much discounting the third quarter and looking to early 2002. I don't see any major roadblocks on the horizon for now. We have staying power in the very short term.
decide investors last morning previous rally reaction whether
Investors had to decide this (Monday) morning whether last week's rally was real or just a knee-jerk reaction to the previous week's losses.
behind chance close exactly gap last manager
If you're a manager who's been way behind this year, this is your last chance to try and close the gap and salvage the year. So you're going to do exactly that.
adds certainty
I don't think it adds any certainty to investors' uncertainty about the future.
based beginning bets economy focus gone gotten higher individual investors iraq issues latest market playing reason return since underlying war worse year
I don't think individual investors should be playing this market right now, making bets based on the latest Iraq news. Once the war ends, we've got underlying fundamental issues that will return to focus. The war is not the reason the economy is having trouble. Fundamentals have gotten worse since the beginning of the year and yet the market has gone higher because of the focus on Iraq.
aggressive beat companies easy fairly general low mean quarter quarters
However, expectations for this quarter in general are so low that it will be fairly easy for companies to beat and that can give us a short-term boost. But will it mean anything? Expectations for the subsequent quarters are still too aggressive and unrealistic.