Brett Gallagher
Brett Gallagher
confidence corporate earnings heal market street time wall
This is a market that has no confidence. Corporate confidence is shot, confidence in earnings is shot, and confidence in Wall Street analysts is gone. Only time is going to heal that.
core earnings introduce nobody ongoing operations picture present reason
I thought the reason for core earnings was to present a picture of what earnings from ongoing operations really look like. But because of this one factor, and because it's going to introduce so much volatility, nobody is going to use it.
direction impact longer major war
Longer term, is the war going to have a major impact on the direction of the market? I don't think so.
continues middle respect war
It continues to be a tug of war with all of the uncertainty going on with respect to the Middle East,
becoming companies compare extremely investors slowly
I think it's extremely important for U.S. investors to get this idea. It's slowly becoming more mainstream. As the world has become more global, it's more important to get best-in-class, and the only way you'll do that is to compare companies globally.
bounce earnings estimates extent given help last markets quarters risk sold unexpected week
It is a little bounce and it's not to be unexpected given how much the markets sold off last week so I wouldn't read too much into this. Earnings are going to be very important to help set the tone, but the out quarters are still very much at risk and those estimates have not come down to the extent I think they should.
positive tax
Eliminating the dividend tax is a psychological positive for the market, ... but at the end of the day, it's no big deal.
fallen far market tends
Once the market has fallen far and fast, there tends to be a pause.
chatter drive hear ibm market microsoft might numbers particular
I think that the IBM numbers in particular are going to be important. The chatter that I hear is that Microsoft should beat, but IBM is more mixed. So if IBM beats, that might drive the market higher.
durable economic extent good poor vacuum
To an extent we're in a vacuum where even poor economic statistics, such as the durable good orders, can't dissuade investors.
problems worse
With pharmaceuticals, the problems are pretty well known. I don't think they're going to get any worse from here.
We're going to see a lot of revisions down as we go on through the year. Expectations are high.
ability along bit company continue course focusing follow further gas increase later limited months name natural next others percent petroleum prices production pump sector services surprise turn vastly
We're focusing more on the drillers and some producers. The services sector I think will follow along a little bit later Anadarko Petroleum is one of our favorites, ... This is a bit of a natural gas play. It's the one company in this sector that can increase their production should prices turn higher. Many others are limited by their ability to continue to pump out further amounts of product. I think Anadarko is vastly undervalued. To get another 30-to-50 percent out of the name over the course of the next 12-to-18 months would not surprise me at all.
build gains news order period prolonged slow steady time
We're going to have to see better news and slow steady incremental gains over a prolonged period of time in order to build the market.