Barry Hyman Beyond Quotations

The reflection of what Cisco says is an absolute reflection of the economy. If Cisco is giving this forward look beyond the first quarter, then the suspicion of a possibility for a second half upturn may not be as evident.

I think there's still more upside ahead into next week, and as we look at the market beyond near term, I think the surprising strength in the economy is going to help us in the first half of 2006.

We need some inference from the Fed that interest rates beyond June are in doubt,

A lot of the gains are due to the earnings story. I think the market can deal with one or two more interest rate hikes and believe that the Fed is not going beyond neutral.

The next three percent move for the S&P could be up, and that would take us to important resistance levels. The question is what is the bias beyond that, what is the next five percent for the market? That's not clear.

You can pick you poison today from anywhere. The earnings concern and lack of guidance for 2006 concerns tech players. But the story goes beyond that to energy pricing, which is still a 2005 perspective. Once again, energy is the leading sector. As long as energy prices remain high the market should suffer.

The market remains concerned with the progress of the earnings beyond the second quarter.