Joseph Battipaglia
Joseph Battipaglia
believe broader business deflation fear point positive recession sector sensitive
We're at a point where there is some rotation, but I believe it's a very positive development because you're getting broader participation on the economically sensitive sector because, the fear of recession is going away and the deflation fear is gone, ... Business Day.
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,
crack distress enthusiasm extreme group investors pressure quickly stocks technology wax
One of the most extraordinary things about technology stocks is that they're the first ones to crack under any pressure in the marketplace. Investors wax from enthusiasm to extreme distress very quickly with that group more than any other.
context correct include market process proper small work
The market can correct here and work its way down to 7,500. But it's all in the context of proper valuations and a broadening process that will include small and mid-cap stocks.
direction economy giving information market mixed piece struggling
The market is struggling for new direction. Each new piece of information on the economy is giving mixed signals,
pc sales tie
Right now, the slowdown in PC sales I tie to the Pentium III,
october quite
This is quite different than October of 1997.
continue cut earnings estimates investors market next point several though
Investors are not put off now by the onslaught of disappointing earnings expectations. I think we're well through the inflection point where the market will continue to recover, even though earnings estimates will continue to be cut for the next several months.
dollar gold safety
I think gold is not the right place to be right now, ... The dollar and U.S. Treasuries are now the safety valves.
concerns economy expanding improve mixed number raising result retail sector services
Today's ISM services number was a disappointment. The economy can't improve if the only sector expanding is the consumers. And now the mixed retail result is raising concerns there, too.
data earlier economic enron investors life lock looking looks move next picture positive profits selling serious signs starting step tone toward year
The positive tone has more to do with the economic data that showed some signs of life in the economy. We've got through the Enron debacle and some selling that represented investors looking to lock in profits earlier on. Now we're starting to get a serious picture of what next year looks like, and it's probably the first serious step toward an upward move in the market.
early happen interest june market period profit rates ready reporting season start transition
We're in this transition period right now, getting ready for interest rates to start rising, which will happen June 30, and for second-quarter profit reporting season to start, which will be early July, ... Those things could get the market going again.