Michael Carty
Michael Carty
Michael Cartywas an Irish Fianna Fáil politician. Born in Loughrea, County Galway to Lawrence and Josephine Carty, he was the eldest of seven children. A schoolteacher by profession, he was first elected to Dáil Éireann as a Fianna Fáil TD for the Galway South constituency at the 1957 general election. From 1961 to 1969, he represented the Galway East constituency, and from 1969 to 1973 the Clare–Galway South constituency. He retired from politics in 1973...
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Earnings continue to remain strong, even for the technology companies, so I think, with the Federal Reserve saying we're afraid of a recession more than inflation, you're seeing bargain hunters coming in.
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Technology has been under a bit of a cloud and there's still concerns about the telecom industry, ... I think investors are still very wary of it. They want to see more robust capital expenditure.
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The most prudent position for any investor right now, ... would be to be buying on the dips, particularly those attractive technology stocks that are selling at something of a discount.
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They go into enterprise technology where they allow companies to access all kinds of systems in a secure mode. The company continually introduces products, ... We just jumped in, even at these levels, just about a week ago. We'll continue to buy this stock for many of our accounts. Our analysts are very high on it. We expect it to outperform the market over the next six-to-12 months.
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I think we're seeing investors being convinced that we hit the bottom and from here we'll go through some softening of the economy. But if we're going to get back into the market, we want to do it now because the market is a leading indicator.
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I think a couple quarters down the road, the worst will be over. This is a terribly oversold market and it is undervalued.
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I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days. We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
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People are looking forward to 2006 and expecting to have more difficulties.
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People are selling into some of the gains from the run this year and moving into the more defensive names. I think you could see more sideways movement for the next few weeks.
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I think the stock action has been very positive. It's getting to the point where people are more afraid of being out of the market than getting in it.
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Most analysts are calling for the market to rise between 5 percent and 10 percent next year, but I think it could be more like 15 percent. The economy is heating up, the employment picture has been improving and companies will begin spending more.
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We are basically being held up by geopolitical events,
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Stagflation is in the back of the minds of many investors right now. When they see energy getting quirky, they want to duck. And when they see the market rally, they want to take some chips off the table.
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Markets tend to be very uneasy during the election year. One of the problems is that no one wanted to make a big commitment without knowing who was going to be at the helm.