Timothy Ghriskey Certainly Quotations

We've seen a very volatile stock market since February. Different styles and sectors, like technology or financials, coming in and out of favor with no clear direction. There's nothing really wrong with techs. They are certainly somewhat highly valued by any historic measure, but probably not as highly valued as they were in February. We think, actually, come the fall, we could see a big tech rally, and that would probably be related to the fact that the IPO calendars are really building at the big underwriting firms, the big broker dealers.

I think the August Fed meeting is a big overhang. And certainly the direction from that meeting will influence where the market goes. We could get into a bit of a summer doldrums here with August looming, from vacation time and all of that,

The prospect of nearing the September lows is propping up the market. Certainly the news was bad last night, but the market action over the last several days has been more positive.

We've had some very good earnings. Certainly the sell-off we've had in the last week or so has provided an opportunity for buyers to come back into the market.

CPI is certainly the big economic report of next week. The Fed's beige book and some of the manufacturing numbers will be looked at as well.

Oil is certainly dominating the market right now. Yesterday, crude moved above $60 but then pulled back by the close. Today you didn't see that.

This is a pulp and paper stock, which is very leveraged to economic improvement, ... That's certainly a stock we like a lot.

Oil was down a lot on the day and that certainly helped the market to support recent gains. There's also money moving from bonds to stocks here, with bonds retreating after the August run.

I'd say the biggest concern right now is certainly oil. The gas pump is squeezing the consumer and the consumer is what has kept the economy going.