I think it's just more of the same. The Nasdaq is quickly approaching 5,000 and it's hard to divert money back to traditional stocks when the opportunities are so phenomenal in the new world economy.
More Quotes from Barry Hyman:
I think there are going to be opportunities to buy the weakness because I think the pre-release season will dominate again I don't think there's going to be a significant drop, though. There are a lot of people who buy the concept that 250 basis points (in interest rate cuts) with more coming is going to help.Barry Hyman
The retail sales numbers we saw should have presumed a rally but we had some selling in Hewlett-Packard and NBC Internet. During the day, people started to realize that retail sales were good news.
Barry Hyman
I do believe an investor shouldn't change their philosophy just because it's post-Fed, ... I think the aggressive, more short term oriented philosophy that has worked the first seven months of the year will still be the philosophy until that strategy is proven to be wrong.
Barry Hyman
There's more of a defensive style coming into the market. People are going to look for the opportunity to be in the market during this (results) season and will look at more defensive investments until we get through pre-releases. I'm no longer fearful of earnings, I'm fearful of the pre-releases.
Barry Hyman
You have to ignore that because they're of course going to be bad, ... You have to look at earnings potential, and cyclicality stocks, I'll go for International Paper.
Barry Hyman
This is a time to be very diversified and avoid taking chances. Sometimes being a spectator is not a bad idea.
Barry Hyman
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