Brett Gallagher
Brett Gallagher
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.
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.
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.
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.
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.
We're going to see a lot of revisions down as we go on through the year. Expectations are high.