Richard Cripps
Richard Cripps
banks best calamity major
Any major calamity we've witnessed, the banks have been some of the best performers.
portfolio rest simply
The Nasdaq is simply crowding out the rest of the market. If you are a portfolio manager, you have to own some of these (technology) names.
bounce came driven momentum rushing sharp
The Nasdaq is increasingly driven by a lot of day-to-day momentum players. Technically, (the Nasdaq) was oversold and they came rushing in. I think it's more of a bounce from yesterday's sharp sell-off.
close driven expectation fact happen moment near period react stocks technology
I think you are near (capitulation) at the moment and you are getting close to the bottom. Technology stocks are driven on the expectation and we're in a period now where expectations are being lowered. What you'll have happen is stocks will react to the fact that expectations are too low.
dressing market mind next people window
Keep in mind most people are now working into the next quarter. The window dressing that has been powering the market may be gone.
buyers fear left result
I think it's more a result of a fear of buyers being left behind.
broader correction equity focused market point reflecting seen segments shifting
I think that the correction that we've seen in the market averages, in the Nasdaq, is probably reflecting an inflection point for the equity market that's going to be not as focused on technology. It's going to be shifting more into the broader segments of the equity market.
current earning earnings good growth next stock
Good earning growth. Next year, their earnings will be about $1.90 (per share). That's just 10 times this year's current stock price.
conviction impression pressure selling signs
There are no signs here that give you the impression that the selling pressure has bottomed. There's just not a lot of conviction out there.
action bullish change continue great terms underlying
There is an underlying bullish tone. We continue to see the action on the downside, in terms of force, to be not as great as what it's been on the upside. (The reports) didn't really change anything.
fed high interest market oil overcame problem raising rates
This was a good, constructive quarter. The market overcame two problem areas: the Fed raising interest rates and high oil prices.
broader buyer conviction correction dynamic investors lack rise view
There is a lack of buyer conviction. The whole dynamic of the Nasdaq rise and correction is, in a broader sense, an inflection point. But investors just view it as weakness.
clearly earnings issues
Clearly there's some issues over earnings this quarter.
again anytime bit cutting economies economy expected faster fed foreign global grow interest keeps major murky picture quite rates scene slower
But I think that the global picture in 1995 was a little bit more murky than it is today. Economy was slower than today. As we look at the world scene it is actually quite good. A lot of foreign economies are expected to grow a little bit faster than the U.S. economy this year. So that is a major difference. And again it probably keeps the Fed from decreasing or cutting interest rates anytime soon.