Vince Farrell
Vince Farrell
ability continue dollars great impact oil profit service
Most of the exploratory dollars are going to go to the great big prospects. And I think this will really impact the oil service companies' ability to continue their profit growth.
chairman concern continue cut earnings forward good greenspan grow interest rally reserve surprise
I think what really triggered the rally was the surprise cut by (Federal Reserve Chairman Alan) Greenspan in interest rates. But earnings have been good enough to continue the rally. Now the concern going forward is: Can earnings grow in 1999.
annual declining increasing inevitably percent price production rate
Production is declining at about a 4 percent annual rate right now while consumption is increasing between 2 and 4 percent. So inevitably the price is going to have to go up.
companies expected sell tech
The tech companies are going to have to be a lot better than expected to keep this up. I say sell this tech rally.
found relief reports
We had a little relief rally. We got through the quarterly reports and found out we were still alive.
average bottom encouraged individual process stocks
I was really encouraged by yesterday's move. I don't know about the average - the average is in the process of bottoming - but it may well be that the average can kind of bottom out, individual stocks are going to go off on their own, up or down.
average bottom encouraged individual process stocks
I was really encouraged by yesterday's move, ... I don't know about the average - the average is in the process of bottoming - but it may well be that the average can kind of bottom out, individual stocks are going to go off on their own, up or down.
companies couple economy energy fairly financial key last quite reasonably side somewhat stocks weeks
On the other side of the ledger, most of the companies in the old economy are fairly reasonably priced. So, a couple of weeks ago we started to see a shift. First, the energy stocks did somewhat better. Then, the pharmaceutical stocks had quite a run. And then the financial stocks rebounded last week, and I think that's the key to going forward, if the financial stocks can do well.
build correlate goes growth guy match mix period style value wealth worst
Mix and match the risk. If you do it well, your growth guy is not going to correlate with your value guy -- but it will keep you in the game, ... If you're all in one style and it goes bad, that's the worst thing you can do if you want to build wealth over a long period of time.
benign euphoric greenspan market thinks yesterday
We had a euphoric day yesterday because the market thinks Mr. Greenspan is going to be benign today,
building economy terrible
We've been building to this for some time. The economy is in a slowdown but it's not in a terrible situation.
fed financial interest months moves rates stocks tend work
Financial stocks tend to do well when interest rates are being lowered. Interest rate moves by the Fed take about 12 months before they work their way through the economy.
couple gains hear next nobody wants
But nobody wants to hear about gains over the next couple of years,
afternoon basis greenspan mind start wednesday worrying
Does Mr. Greenspan in the recesses of his mind think 'I've got to take back all 75 basis points'? That's what we're going to start worrying about at 2:20 on Wednesday afternoon after we get the 2:15 announcement.