Douglas Altabef
Douglas Altabef
drag last repeat wants
I think there is a lot of nervousness that we'll have a repeat of last time. No one wants to see this drag on like it did in 2000.
attention blowing buying coming couple fair few investors last left lousy meeting nervous number paying run seen tremendous trends volatility whistle worth
I think there are a couple trends worth paying attention to. Number one is the re-emergence of financials. We've seen that already over the last few months. They've had a tremendous run but they're coming off such a lousy last year-and-a-half that I think it's fair to say that it hasn't really left the station. But there's a lot of whistle blowing going on. The other one is that investors are very nervous about any kind of whiff of disappointment of not meeting expectations, so there is tremendous short-term volatility going on, and that's a buying opportunity.
brief continue good last markets moving stock year
You'll see markets continue to do the Cha-Cha, moving higher, but paced by brief retrenchments. It's not going to be as good as last year, but I think 2004 will still be a good year for the stock markets.
anyone conviction expected great last market reality seeing tone week
We're seeing the reality of a market that does not have any great conviction. Anyone who expected a linear, 'We're off to the races' kind of tone after last week was mistaken.
continues economic far few last news ongoing played profit recovery relief seeing taking
Profit news continues to be good, and we are seeing some relief from the profit taking of the last few weeks. But there is an ongoing tug-of-war between 'we've come too far too fast,' and 'the economic recovery is strong' and you're seeing that played out on a day-to-day basis.
among based business investment last lousy reality retailers stock terrific thinking
It's always been a high-multiple stock among the retailers based on the reality of terrific business performance. Wal-Mart has many times in the last 15 years been a lousy investment possibility because it's priced so high. Our thinking is they've got to always be right.
bias conviction couple economic fourth goes next nice sideways sort upside year
I think as the year goes on there is going to be more conviction about an economic recovery. I think the market's sort of sideways with an upside bias at least for the next couple of months. I think we'll have a nice fourth quarter.
indicate likely people return seem seen volume waiting
I think if you look at volume it would seem to indicate there very likely may be a return of investors. People who are more opportunistic have seen the signs. But a lot of people are waiting for clarity.
among anxiety bad certainly earnings economy good individual season
It actually isn't a bad day -- it's a good day for techs. I think the most important thing is that earnings season is going pretty well. A lot of this is perception, and the economy may not be robust, but it's not sick. There's certainly a lot of anxiety out there among individual investors.
catch start
Merrill may be more of a tortoise, but they'll start to catch up.
center focus good iraq prospect recession
With Iraq off center stage, there is more good to focus on than not. The prospect of a double-dip recession will fade, I think.
closely decision fed looking matter negative opinions people reaction saying slowly statement
We were going to have a knee-jerk negative reaction to the Fed's decision no matter what, with so many different opinions on what should be done, but I think today, it may be that people are looking more closely at the statement and see it as the Fed saying things are slowly going in the right direction.
broader earnings economic impact news stocks
Today, there isn't any economic news, and the earnings news is having an impact on those stocks but not the broader market.
argue fairly
Wal-Mart is ? I would argue is a fairly recession-resistant retail.