Douglas Altabef
Douglas Altabef
argue fairly
Wal-Mart is ? I would argue is a fairly recession-resistant retail.
aside companies due earnings improving investors quality saying willing
You're really going to need to see some bellwether companies saying the quality of earnings is improving and that it's due to growth, not cost-cutting, before investors are going to be willing to set aside the skepticism.
accounting bad impact market ongoing problems scrutiny wants
The CA investigation is an ongoing thing. They've had problems long before accounting scrutiny was fashionable, so the impact of that is muted. There is the sense that the market wants to shrug off the bad news.
amount certainly expensive
This is not an expensive stock. We think Merrill certainly has a significant amount of upward opportunity.
bush comment deterred fact point says
The U.N. says go slow, the U.S. says the fact that Blix can't find anything is more of a comment on Blix than anything else. The point is, Bush is not going to be deterred by these findings.
advantage business focus good
O'Neal has a good sense of where the business focus should be. He's been able to take advantage of a good business environment.
market time wanting
I think that there is an upward bias. The market for the first time in a long while is wanting to go up.
bias conviction couple economic fourth goes next nice sideways sort upside year
I think as the year goes on there is going to be more conviction about an economic recovery. I think the market's sort of sideways with an upside bias at least for the next couple of months. I think we'll have a nice fourth quarter.
drag last repeat wants
I think there is a lot of nervousness that we'll have a repeat of last time. No one wants to see this drag on like it did in 2000.
attention blowing buying coming couple fair few investors last left lousy meeting nervous number paying run seen tremendous trends volatility whistle worth
I think there are a couple trends worth paying attention to. Number one is the re-emergence of financials. We've seen that already over the last few months. They've had a tremendous run but they're coming off such a lousy last year-and-a-half that I think it's fair to say that it hasn't really left the station. But there's a lot of whistle blowing going on. The other one is that investors are very nervous about any kind of whiff of disappointment of not meeting expectations, so there is tremendous short-term volatility going on, and that's a buying opportunity.
among anxiety bad certainly earnings economy good individual season
It actually isn't a bad day -- it's a good day for techs. I think the most important thing is that earnings season is going pretty well. A lot of this is perception, and the economy may not be robust, but it's not sick. There's certainly a lot of anxiety out there among individual investors.
clearly economy market reacting seeing signs
Clearly you're seeing conflicting signs about the economy and the market reacting to that.
acting great improvement june market resilience seeing
But I think the way the market is acting is actually healthy. You're seeing a real resilience on the part of the market. You're seeing a willingness to shrug off or contextualize not great news, which is a big improvement over June and July, when if the market was open, it was down.
days four great healthy market three
It was great that we had three or four days of a healthy bounce. But our take is that the market is being unduly punitive right now.