Vince Farrell
Vince Farrell
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.
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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.
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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.
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What the stock market is telling you is that the economy and corporate profits are going to recover sooner than thought.
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They may or may not have exposure to the hurricanes depending on where their business is written, ... But it's psychologically a good time to move in, because that's when these stocks tend to be toward their bottoms, and indeed they are right now.
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AIG trades at a market multiple, and it is indeed the best insurance company in the world, in my opinion. But financial stocks rarely, if ever, trade at market multiples.
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as go Intel's gross margins, so goes Intel's stock price.
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I think we have a ways to go on this. Stocks are fully valued.
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I think we have to wait until 2002 for the Fed's rate cuts to take hold and stocks generally move ahead of the economy,
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I think there is an era of optimism that pervades the financial community in the United States. There's just this feeling that stocks are going to go up, and up, and up.
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I think it's going to be a difficult year. We're undergoing a change. I think the markets will broaden and some tech stocks will suffer. In my opinion, they've reached a point of absurd valuation. These stocks are going to give up the ghost with money going into other stocks.
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Gore is putting himself as the populist candidate to fight against those big companies. You'd have to say Wall Street, right now, views Gore with fear and trepidation because he's attacked those industries in his campaign. What's been very strong has been healthcare so healthcare stocks are telling you Bush is going to win. Money managers are putting their money up front.
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I don't think bank stocks are going to plummet, and I think you probably should take advantage of the weakness to start to add to your portfolio,