Douglas Altabef
Douglas Altabef
expect gains next seeing
I expect we will be seeing those kind of normative gains next year.
bias continue conviction forecasts moderately people seeing seem stock support upwards year
The forecasts for the second-half of the year for the most part seem to support a recovery, but to some extent, that's already priced into the market, so you're not seeing that much stock reaction. There's not a lot of conviction and some people will take profits. But I think there will continue to be a moderately upwards bias for the remainder of the year.
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But I think the way the market is acting is actually healthy. You're seeing a real resilience on the part of the market. You're seeing a willingness to shrug off or contextualize not great news, which is a big improvement over June and July, when if the market was open, it was down.
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.
attitude earnings higher late numbers reaction return saw seeing starting talk whisper
Earnings have been good, but what you're starting to see is a return to the attitude about earnings that we saw in the late 1990's, where you're seeing more talk about whisper numbers, higher expectations, and a more punitive reaction to numbers that disappoint.
cue early forecasts given market next rest taking trend year
On any given day, the market is taking its cue from forecasts and results. Juniper was negative, so that's spilling through the Nasdaq. I think, overall, though, the trend through the rest of the year and into early next year will be more positive.
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.
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The CA investigation is an ongoing thing. They've had problems long before accounting scrutiny was fashionable, so the impact of that is muted. There is the sense that the market wants to shrug off the bad news.
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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.
market time wanting
I think that there is an upward bias. The market for the first time in a long while is wanting to go up.
economic federal iraq market meeting reserve resolution waiting
The market is in a wait-and-see mode. It's waiting for confirmation of an economic recovery, some kind of resolution on Iraq and on what the Federal Reserve is going to do in its meeting this month.
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However, the rising of interest rates from the current abysmal levels wouldn't be a bad thing, as it would be happening because of positive reasons, because the economy is strengthening.
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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.
days few gains managers market money quarter
My sense is that you'll see a few more days of gains as a lot of money managers want to be long the market through the quarter end.