Alan Ackerman
Alan Ackerman
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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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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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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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The public is in a semi-shocked state and cash remains on the sidelines on Wall Street despite everything being on sale, ... The main downside pressure seems to be continued earnings disappointments in the tech sector and we had downgrades today that were troublesome.
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The sands have shifted, ... Wachovia's weakness took the strength out of the financials and Qualcomm has taken quite a hit.
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It was a livable number, ... It encouraged some bargain hunters to go to work.
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Enron's quick collapse touched off more aggressiveness by regulators and prompted them to dig more deeply into executive dealings.
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Earnings, by and large, are what investors are hanging their hats on, ... Some earnings improvements have prompted some optimism, but we'll know more about that next week.
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Essentially we're just completing a week where there appears to be some market stabilization starting to surface,
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Even if a trading halt were put in, it might be 'something to do about nothing,' ... This is an orderly drop, rather than one filled with panic.
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There's so much doubt out there ahead of this three-day weekend that many players are just selling into the market -- taking their cash and moving to the sidelines,
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There's a feeling that oil prices will work higher still. The U.S. is more dependent on foreign imports than it has been in a while, and with oil prices on the rise, buyers moved quickly into oil stocks and energy related stocks,