Ray Rund Quotations

Over the long term, there is a recovery going on, but I think it's slower than a lot of people would like it to be. On the face of it I'd say it's just one day where things happen to be a little stronger than others.

Intel is the leader in the semiconductor market. They're No. 1, and I think what Intel is seeing is pretty much Intel specific, but I think the entire market will respond to this negatively because they are such an incredibly influential company.

Every tech stock gets painted with the same brush those guys get painted with.

I tend to think we're in for some period of weak growth, and I'm not talking about a quarter or two. I think for all of 2003 maybe into 2004 we'll continue to see weak growth.

The consumer confidence number dropping gave people a bit of a surprise.

It will largely be determined by how the companies meet expectations and set future expectations,

We're at a funny point in the cycle. The companies have reported that they're seeing some growth for the next quarter, but it's not robust growth, and the valuations on a historic basis are still pretty full. What's driving these stocks is sentiment -- people are afraid that if they miss them now they'll miss a big run-up.

People are taking this as a signal. In this case, it's kind of pro-growth stock. The Nasdaq has the most growth stocks, and when interest rates stabilize, or go down, people start to think of growth as being worth more.

Seems like some of the stocks that had really run up have taken a bit of a tumble as of late.

If the companies say they're seeing strong orders so far in the first three weeks of the current quarter, that probably keeps things going. If they say they don't have any visibility, we'll probably have a pullback.