Peter Cardillo

Peter Cardillo
1972 Harlem mosque incident describes the April 14, 1972 shooting of a New York City Police Departmentofficer at the Nation of Islam Mosque No. 7 in Harlem, Manhattan, New York City. The officer responded to a fake 9-1-1 call, was shot and died six days later. The incident sparked political and public outcry about mishandling of the incident by the NYPD and the administration of Mayor John V. Lindsay...
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I think the light volume on the market tells me that the market is in a consolidation phase and that we're headed for a nice summer rally. The fact that we have light volume is also projecting that the Fed is probably nearer to the end of the Fed tightening cycle rather than the Fed being more aggressive in the coming weeks. I think the technology stocks are going to come back strongly. And I think financial stocks are going to do well.
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Dell Computer ( DELL : Research , Estimates ) is battered down here, revenue growth put into question as the whole technology group has been put into question but I think, you know, going forward that Dell will be a winner here and I think it should be bought at these levels.
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You would think on a day when the bond market is very weak and the dollar is collapsing that technology would be weak. But, the weaker dollar is being interpreted as positive for the sale of technology abroad.
basically earnings good technology
Basically we had a lot of good earnings in technology but we also have some warnings going forward.
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I think volume is going to pick up to begin with and that the markets probably, by end of this week, are going to begin to get out of that resistance level, both the Nasdaq and Dow. And I think we're probably going to test the old highs by the end of year. Leadership, I think, will come from technology and telecommunications stocks. The economy is headed for a soft landing. All the fundamentals remain in place. And, last but not the least, there's been a tremendous amount of build up in cash reserves. That money is going to be put to use.
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Mr. Greenspan didn't say anything new but his comments were one of the reasons we saw this early spurt take the market up and wane in the afternoon. But when it's all said and done, what the market is really grasping for here is some really good earnings in technology stocks.
breadth market
The breadth of the market is very negative.
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The jury has been out over the last week or so over whether they will indicate that they are going to pause and I think that's what's been holding back the markets.
telephone
I like American Telephone at 45 and 50,
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I think the market is holding up pretty well after the recent rally, ... The economic news was mixed today, and investors are eyeing Ivan and the price of oil.
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I suspect over the next session or two, we could see more selling, as investors await all the economic news due next week,
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The low volume confirms that everyone is sitting on their hands. They don't want to venture until there is clarity on the Iraq situation.
change help
I think that if GE or Citigroup say something upbeat, that could help change the mood,
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I think the market is now looking at earnings, ... I think we'll probably see earnings come in pretty good, but I think the market is also anticipating that corporate America will voice concerns about high energy costs.