William Hummer
William Hummer
entering period stock
We're entering a seasonal period now, pre-Thanksgiving, pre-December holidays, where we often see a stock advance,
exposure higher interest minimum stocks
Stocks that have minimum exposure to higher interest rates.
easing fed fixing flu global help major market prevent problems recession require sees shot temporary
We see the Fed easing as a flu shot that will help prevent recession in 1999, but fixing the global problems that underlie the markets' malaise will require major surgery. So basically, I think the market sees through this as a temporary boost, but there are fundamental problems that aren't yet resolved.
asian crisis earnings economists major sight trim
There's no end in sight as the Asian crisis will go on for years and this is having a major effect, ... It will trim earnings probably more substantially than many economists expected.
certainly core growth happening job oil price sharp subject variations
This is a disconnect; job growth is psychologically and practically the core of what's happening in the economy. In sharp contrast, the oil price is volatile. It's certainly not meaningless, but it's subject to so many variations that it doesn't have the same importance.
bringing coming corporate earnings estimates growth interest low market rates sustained until year
That's what's probably bringing the market around. Low interest rates and sustained growth will bring estimates that corporate earnings over the coming year could very well be up 8 or 9 percent. That will sustain the market for the coming months, until year-end.
sector services showing starting wages
The services sector is showing some inflationary pressure, and wages are starting to climb.
beginning economy momentum people since strength year
The strength of the economy since the beginning of the year has been an embarrassment to forecasters. There is much more momentum than most people recognized.
earnings fairly quarter received third
The third quarter earnings have been fairly well received and I think there will be anticipation that fourth-quarter earnings could be better than expected,
although market performance reaction stock
I'd characterize third-quarter stock performance as disappointing and event-driven, although it was understandable why the market reaction was what it was,
employment enormous funds supply
There's an enormous supply of funds awaiting employment in equities.
anyway anywhere gains good inclined realize time
It's a good time for those who are inclined to take gains to realize them now if they're going to do it anyway -- I don't think the market's going anywhere for a while.
gave good intel oil positive preview suffocated
Intel gave us a good preview of the quarter, but oil suffocated the positive news.
advantage affected changes desirable happens short sudden vacuum volume
If there are any aberrations in value, sudden changes in stocks, you can take advantage of that and do some buying, ... Sometimes it happens in a vacuum that, when volume dries up, some desirable equities can be adversely affected in the short term.