Alan Skrainka
Alan Skrainka
acted analysis customers earnings fed growth guess market neutral next overall points practice price promptly service shifting solid technical trend year
We feel we can do a service to our customers if we just get the overall trend right. We don't really practice technical analysis or try to guess the price points next week. But the trend does look like it's higher, because the Fed now is probably shifting into neutral earnings are very strong. And because the Fed acted promptly they ensured we would have another year of solid growth next year. That is what the market is anticipating.
computer concern corporate information personal reduced sales slowing technology
There's still a lot of concern about slowing personal computer sales and reduced corporate information technology purchases.
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Technology is still the fastest growing segment of the US economy. Earnings are growing at 20-30 percent year over year, and US companies lead the world in almost every major category.
confusion earnings focus future hot interest picture sector tech turns
Techs were hot and everything else was not on confusion about the future of interest rates. When the interest-rate picture is cloudy, the focus turns to earnings. And earnings in the tech sector have been good.
companies equity help private tech tried unit
It has nothing to do with the economy. It was in the private equity unit where they tried to help fledgling tech companies get started.
blue flight market quality stocks tech
What you have going on in this market is a flight to quality, which is the blue chips, as tech stocks are priced to perfection.
technology
It's the same story. Technology is hot, and everything else is not.
event major next sector technology
The next major event is Microsoft's response, but I don't think that's significant. It's significant but not to the technology sector as a whole.
catalyst microsoft tech
Clearly, Microsoft is the catalyst for today's tech sell-off.
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We think, in the short run, psychology drives the market but in the long run, fundamentals drive the market. We see very low inflation and no inflationary pressures. We think, going forward, expectations have come back down in line with fundamentals and we won't have the pressure of Fed rate hikes over the next 12 months.
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The signs of slowing are few and far between. I think it's really the data between now and (the next meeting) that will determine whether it will be a quarter percentage or half percentage point hike but I think it would be confusing not to raise (rates).
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They already made an investment decision prior to the rule change being official.
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The word for 2001 is look for opportunities. There are problems in the economy but they have gotten aggressive responses from policy makers.
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Earnings have been fantastic. Any weakness in the market you've got to attribute to (the) rising interest-rate environment.