Accounting and other issues are still overriding the market. There have been some reasonably good economic numbers but the earnings situation hasn't gotten as good as it could. You could make a case for the bull and the bear.
We're getting back to fundamentals. I think you're in that type of environment. There's a better feeling in the economic world, and the market's just doing well. We started off shaky and just picked up by the close.
The shock is gone. It's over. People are focusing on the future.
You've had a major turn. I think the market's better, I think it's going to continue getting better, but that doesn't mean you're not going to see some pullbacks over the next three to six months.
You've got a market of emotions, and I think the emotions show us that the markets want to rise.
It's a brutal market. I've been doing this for more than 30 years and I've never seen anything like this.
We've got so many cross currents competing right now, and we're in this trading range. And I think we're gonna have this volatile trading range for a while.
I just don't know how far we'll be able to go with the Fed helping us out. At some juncture, the numbers as far as earnings are going to have to turn around.
I think you're looking out two quarters, maybe even three quarters before you start to see a substantive increase in earnings for some of these companies. That, to me, is in a nutshell what's going on in the markets.
I think the stimulation that (Federal Reserve Chairman) Alan Greenspan has given to the economy is starting to take hold. It's going to take us a little while, by the third quarter, maybe even into the fourth quarter, we may see things do better.
