Joseph Battipaglia
Joseph Battipaglia
continuing high oil pressure prices profit situation
It's still a situation where fundamentals are decent, but the pressure of the continuing high oil prices and a profit surprise, like HP today, persist,
deliver good numbers profit stocks surprising tech temporary
Going into this week, there were a lot of expectations that the tech stocks would deliver good numbers. As those numbers come out it's not surprising that there would be some profit taking. It's a temporary phenomenon.
benign data fed hurricane market prior quite showing sure
CPI data was benign but the data was prior to Hurricane Katrina, ... Still, no one is quite sure about what the Fed is going to do going ahead. So the market is not showing much conviction.
move neutral opening point quarter rally rest stance
I think it is a quarter of a point move up, but a neutral stance by the Fed, opening up the way I think for a big rally for the rest of the year,
broader earnings effect ibm instead negative news particular positive rest ripple seeing spill stock
This earnings season, instead of getting a ripple effect on positive news, you're seeing that particular company's stock react, but very little spillover, like with IBM today. The negative news has tended to spill over to the rest of that sector, and in some cases, the broader market.
balance companies decent environment fairly talking
The techs on balance have put in a fairly decent performance, ... We're getting a sense that there's a bottoming going on in the semiconductors. Some of the bellwether companies like Cisco are talking about a better environment in the future.
conditions continue investors pay profits roll
As long as the fundamental conditions continue to come on the way they have been ... the profits roll on. And if profits roll on, investors will have to pay more for those earnings, because their alternative investments are limited.
clearly momentum players positive regularly rising stocks
The Nasdaq clearly has a positive tone. It's got momentum players back in a big way, going in and out of these stocks at regularly rising prices,
capital clip companies earnings grow irrational market percent placing rational rewarded unit
The market is being very rational where it's placing capital and the companies that can grow their unit volume, get revenues and earnings going at a 30 to 40 percent clip are being rewarded accordingly, ... I see nothing irrational about it.
endurance growth momentum move rates strength underlying
There's ongoing, underlying strength in the economy, and that's important because as rates move higher, the durability of growth and the endurance of the momentum is very important for investors.
certainly leading performs pick producer segment share stronger
If you are the leading low-cost producer in a segment, as that segment performs and you pick up share from other competitors, you're only going to be stronger when things normalize, and Dell certainly typifies that at this point.
earnings interest pull push range rising seems step trading
But if you step back, it seems to me that we're still in the trading range we've been in for some time. There's still the push and pull between rising earnings and rising interest rates.
correction
I don't see much of a correction at all,
changing earnings estimates expecting fact raising reflects technology therefore
The market's done really well considering it's September, ... I think that reflects the changing fundamentals and the fact that analysts are expecting better things from the earnings and therefore raising estimates and issuing upgrades, in particular, in the technology sector.