Mike Lenhoff Market Quotations

We have probably moved ahead of ourselves. The market is not expensive but it has moved quite forcibly upwards.

U.S. corporate growth remains very solid despite high oil prices. The stock market is bound for some gains today.

Pretty much everyone has been overwhelmed by the way in which the market has steadfastly moved higher. But valuations are still satisfactory because the earnings are coming through.

If there is a statement out tomorrow that says the U.S. economy is still sizzling and we are still concerned about inflationary pressures ... then that will shake up the market a bit and that will reverberate back to Europe and the UK.

The market is up and wants to go higher. It looks as if we'll get to somewhere between 5,600 and 5,700 by year end.

The market has moved ahead and made progress, and that's with rates rising. The Fed is likely to cap rates at 5 or 5.25. Rates will be less of an issue.

The market is really banking on the fact that all the factors that pushed it up last year are going to do so this year. The only thing that will stop it are higher interest rates and earnings disappointments -- at the moment it does not look like you are going to get any major earnings disappointments.