IBM is the story of the day. The reality is that we are in a bull market. We had two days of correction. The market was ready to resume the up trend.
We're in the process of making a bottom but probably not at the bottom. After the damage done to people's psyches, my guess is we'll get a bounce, but then spend a month backing and filling in this general area.
I think we've had the maximum emotional impact from Asia, ... Fundamentally, we haven't had the maximum impact and this is one thing that can cause the market to take an overdue pullback.
I think both the sentiment and fundamental factors are in place for the resumption of a bull market.
We have been and remain in a bull market,
You are seeing some very normal profit taking in the high-techs. The only question is whether it is going to last a couple of days or a couple of weeks.
You are seeing some very normal profit taking in the high-techs, ... The only question is whether it is going to last a couple of days or a couple of weeks.
You have to put the declines in perspective. This bull market has been going on for 38 months and it can't continue to rock and roll day in and day out like it used to when it was young and had lots of energy.
Earnings have been quite positive, and I think that's the number one reason to buy stocks and the number one reason why this market has held together.
Earnings are not a problem. The economy is fine, fundamentals are strong. But overall there is a negative mood that's focusing on domestic political and geopolitical uncertainties.
The bears are screaming that the market is too selective,
The two main wet blankets on the mood of investors right now are the price of oil and bond yields.
The correction is over and we've started the summer rally,
The market is responding to strong economic fundamentals -- there is no inflation and there is the awareness that the Asian contagion won't cripple us.
The market is due for a correction, but none of us know when it will pull back,