Steve Previs
![Steve Previs](/assets/img/authors/unknown.jpg)
Steve Previs
Stephen Richard "Steve" Previsis a retired American basketball point guard who spent one season in the American Basketball Associationas a member of the Carolina Cougars during the 1972–73 season. He attended University of North Carolina where he was drafted by the Boston Celtics during the 1972 NBA Draft, but he did not play for them...
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The big risk is on the downside, but the market is ignoring a multitude of things they should be concerned about, such as the deficits and the weak labor market. We are getting to a point now where so many stocks are so overvalued that it is ridiculous and somebody at some point is going to say 'Mummy, the Emperor doesn't have any clothes on'.
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It's one way of unlocking value on a lot of disparate businesses that somehow got glued together over the last 10 or 15 years. I think it'll be pretty good for shareholders.
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It's been very quiet this morning. We have a lot of economic numbers out this week that people will be focusing on, and there is the Fed tomorrow.
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The market is pretty expensive as it is now, when we still don't know where the earnings are going to come from.
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I wouldn't be surprised if we see a big opening and then a little more stability coming into the market simply because this oil price is going back up on what's happening in Nigeria and doesn't look like it's going to be coming down any time soon.
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The market is under pressure because people are starting to think about what might happen if the economy doesn't recover, ... If equities do start to head lower, it may be a sign that it is discounting a return to a recessionary environment.
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The futures might take the market back up. But I don't think this level will hold, and I see a choppy period until more earnings are out...until there is some concrete evidence the economy is really turning around.
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There are some disappointments in earnings and obviously Hewlett-Packard is a big one.