446 ordspråk av Peter Cardillo
Peter Cardillo
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Across the globe there are a lot of problems out there. Putting pressure on the markets is the situation between India and Pakistan , gold is up on that news. Also, weakness in the dollar reflects nervousness in the financial markets.
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Many retail investors were in panic mode, however many of them slowly began to come back to the marketplace as the cloud of uncertainty began to lift.
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I think the market's going to probably start the year on an up trend,
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The major companies have already reported and it's quite obvious that this market just can't shake the earnings syndrome.
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I think the market will continue to trade in a tight range in no-man's land. It's not like we're collapsing but it's just going nowhere.
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The only gauge we have here is the economic numbers, and if anything happens concerning Afghanistan. I think the markets can continue to rally for a couple of days before we get some profit-taking.
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People feel there are bargains out there. I think the market can continue to rally a little more.
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Not everybody is getting the check at the same time, but of course it's a positive for the economy. However, it's already in the marketplace and we'd have to see it show up in the (economic) numbers or nationwide polls.
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The market is in the process of testing the March-April lows. The only thing that will turn the market around is if we get some CEOs saying there's light at the end of the tunnel.
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What the market really needs here is stimulant not from the Federal Reserve, but from the CEOs.
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This market is grossly oversold. There has been a lot of stimulus added to the economy, so somewhere along the line a recovery will take place.
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I think Mr. (Federal Reserve Chairman Alan) Greenspan is partially responsible for the latest decline in the market, because in his last testimony, he said something that was quite important, and I think he gave a wake-up call to the market. He said that they were - they had not made a decision yet about the August interest rates.
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Investors should be out there, picking up some stocks that are trading near their lows or have bounced off their lows and I think that have good futures. And among them: AT&T ( T : Research , Estimates ) -- their wireless division came in on target, 25, 30 percent growth, and I think that's what is going to carry them. Stock is hovering around their lows here. I think it's a 'great buy.' And I think in the next market rally, that the stock will have a nice bounce.
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There's no question it's earnings-driven. The rally continues to move ahead but on a rotation basis. There are two things driving the market - earnings and economic data. Today's market seems more based on earnings than economic data.
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Mr. Greenspan certainly left the door open about a possible hike. That whole testimony yesterday (Tuesday), while it relieved the market a bit, is being scrutinized today.
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