Peter Cardillo

Peter Cardillo
1972 Harlem mosque incident describes the April 14, 1972 shooting of a New York City Police Departmentofficer at the Nation of Islam Mosque No. 7 in Harlem, Manhattan, New York City. The officer responded to a fake 9-1-1 call, was shot and died six days later. The incident sparked political and public outcry about mishandling of the incident by the NYPD and the administration of Mayor John V. Lindsay...
cap good news putting
That's what is putting a cap on the good news in the market.
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Now that the market has made a tremendous upward move and the large cap stocks are at their highs, more people are looking at smaller companies for some better values.
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Obviously, this is going to raise the level of speculation and fear. And the news may impact oil prices, sending them higher, which would cap equities.
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We have here a cautious market, and it will continue to be cautious until we get through some major data and Greenspan's testimony on Capitol Hill. Also, investors were taking profits from last week's rally.
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We are optimistic with the technology sector, ... Most of the large technology companies have strong balances and they are likely to increase capital expenditure, which in turn, tends to generate better results.
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A lot of today's market is due to the flow of money going into pension funds and money managers. These are the types of investors who are more inclined toward the large cap stocks.
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I do not buy this theory that, you know, the market is going to continue to move higher without the participation of the smaller cap stocks. It's just not in the cards.
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We are bracing for a weaker opening with a slew of data being released, ... Consumer confidence, inflation and of course, oil, will remain key indicators for the stock market.
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We saw that in the brokerage houses with the consolidation and that's exactly what's happening in the telecommunications sector. And I believe however that there are those companies out there either through perhaps future mergers that will make it and two of them that I like for the long-term is AT&T and WorldCom, ... I think somewhere along the line they might be bought out by some major international concern but it think if you have those stocks it was good at these levels probably to begin to average out.
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These stocks are the forgotten group -- they continue to stay dormant and move lower, but they actually become a good buy,
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The selling in financials is an anticipation of lower earnings due to a slower economy, ... From the point of view of interest rates not going up, it's positive.
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I still expect the third quarter to be respectable but that's a thing of the past. But what happens in the fourth quarter (is the question).
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Energy prices, earnings and the fall of the euro all continue to add to that wall of worry and the market is trapped here in a sea of uncertainty, ... There are no buyers and the selling just feeds on itself.
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Energy prices are the reason for this. The crisis in the Middle East is obviously going to keep the price of energy at a strong level and that means this market is going to now be fearful of inflation exploding. We could be in for a further bumpy ride.