Alan Ackerman
Alan Ackerman
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Negative psychology is building and confidence is eroding, ... We're seeing the deterioration of the desire to buy -- everything is for sale from Main Street to Wall Street.
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We've seen natural gas and energy prices back down. There certainly is no indication that the inventories for oil or natural gas are building in any meaningful way. If OPEC should cut production, we're going to see a rise in oil prices.
building certainly cut energy gas indication meaningful natural oil prices rise seen
We've seen natural gas and energy prices back down, ... There certainly is no indication that the inventories for oil or natural gas are building in any meaningful way. If OPEC should cut production, we're going to see a rise in oil prices.
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Greenspan's comments did little to build confidence, ... The main catalyst today was to back away from risk and try to buy a bit of stability.
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While bargain hunters are going to work, the market is still suffering from a low level of consumer confidence, ... I'd be in no hurry to pull the trigger and be a buyer at the moment but I would be building a buy list.
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I like two stocks, Apache and Ocean Energy. I don't own either of them. The firm doesn't make a market in any of them. We don't have an investment banking relationship, to the best of my knowledge, but I think both stocks have done well in the poor market, ... Apache is really building a pipeline of reserves. They drill in seven major countries. They're natural gas rich. They have held in this market and I think we can look for big earnings coming up over the next year or two.
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When a company reverses itself in this manner, it puts investors ill at ease,
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There is a better tone to the market and money is flowing back into both the Dow and the Nasdaq. Many think we've seen the worst and the next interest rate cut by the Fed (Federal Reserve) will help get the economy going.
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We had a dull July and August is duller still,
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With a market as nasty and negative as it is at the moment, there's little room for error. The Nasdaq has contracted very sharply in a short period of time. Its drop in a year is approximately 60 percent, but this is not representative of all companies that are publicly traded.
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This was the last chance for the Fed to raise rates in 1997. The market reacted earlier as if nothing would happen, and when the news came we saw some buyers but also some sellers going to work,
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What's driving this is techs have gone from terrific to terrible,
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What's confounding most people out there is how do you get your hands around earnings, ... there's not that much out there in terms of earnings predictability.
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We go into next week with continued uncertainty and wall-to-wall worries. The month of August was full of negative surprises, and September seems to be headed in that direction.