The message of the market today is that there is a lot of money on the sidelines and that money was looking for a reason to buy. And the main reason to buy is that we're going up. Momentum builds on momentum.
More Quotes from Al Goldman:
Right now this is a market based on sound fundamentals. I do not see any irrational exuberance. I see intelligent buying. Somewhere out there we will get into a blow-off stage but when that will come is totally unpredictable. Therefore, I'll worry about it when market action starts to change.Al Goldman
IBM ( IBM Research , Estimates ) is a very well-managed company, it looks to us like the shares have made a bottom, that the short-term trend is improving, that momentum is improving. And the company has had some disappointing comments to make. But that's already in the price of the stock. And the stock is down some 40-ish percent from its high, and very well managed.
Al Goldman
The performance of the major stock averages didn't make anyone happy in 2005. But when you consider what the markets had to contend with, treading water is not so bad.
Al Goldman
People are beginning to feel like the boat is leaving the dock -- there is a lot of money on the sidelines, ... The bottom line is we are transitioning from a bear mood to a bull mood, but it doesn't go straight up. Bear markets stink, but it creates very good opportunities for intermediate to long-term investors.
Al Goldman
We have a very nervous investment environment. The excuse is bond rates are up and there is increased concern about the financial futures market, which appears to be predicting three more rate hike for the Fed funds.
Al Goldman
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