Cisco's story was that inventory concerns and demand driven problems are not fixable as early as Wall Street expected, ... People are understanding the impact of what Cisco said. Wall Street wants to believe things are rosy in that sector and they're just not.
More Quotes from Barry Hyman:
Our look for the rest of the year is we're going to rally and worry. We're going to rally and worry some more. And we're going to rally again. I think the concern or the 'worry period' that we're now entering is this cyclical issue again, after this run up in the semiconductors sector and the third-quarter prerelease season, which we're quickly coming to. And I think that's going to give the opportunity for the next run up in the marketplace, which should come somewhere over the next few weeks into the election. The good news, as you pointed out, is that the Fed's done,Barry Hyman
This is more of a short-term perspective and I don't see any commitment by institutions. But a diversified portfolio is doing well here.
Barry Hyman
The situation is very tenuous on the equipment side and any slowdown in demand in the equipment side of the equation, when you are priced to perfection, means these companies are still very expensive,
Barry Hyman
You're getting a lot of positive sentiment in the market and a lot of rotational shifting toward growth, ... It doesn't say that earnings are going to be better but it does lead one to believe that a lot of the bad news may already be built in.
Barry Hyman
There is a substantial group of investors who believe the stock market will start to anticipate an (economic) recovery. The more rate cuts we get, the more likely the recovery is -- I'm looking at this as a 'buy the dip' opportunity.
Barry Hyman
Traders are just lightening their positions a little bit. The holidays are compressing the activity and I think most of the (options) rolling over you saw yesterday.
Barry Hyman
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