We're projecting technology earnings are going to grow almost 40 percent this quarter and that's on top of a very, very strong 1999. Energy company earnings obviously will grow close to 80 percent, but that's on top of a weak '99. So there are companies that should have leadership. After all, if you look at the companies that issue profit warnings last week Maytag, McDonald's, I mean I don't think the future of growth of American economy is washing machines or cheeseburgers.
More Quotes from Donald Selkin:
Intel's news will have an impact on tech tomorrow, but it's going to be overshadowed by the jobs report.Donald Selkin
They make electronic components for the original equipment manufacturers. In February, they bought the Motorola ( MOT ) division that makes parts for wireless cell phones. Well, it came down a little bit..made a new high, dropped a little bit, and is now on the way back up. They have the potential strong earnings growth.
Donald Selkin
No one wants these old-time stocks. People realize the only way to make money is with these new-era (technology) stocks.
Donald Selkin
I'm happy that things are going up in the markets but when things get too bullish and too, I don't know if they're exuberant, but too optimistic, someone will find something between the lines on the Fed statement saying, 'but they said this, they cautioned here', maybe to have to be vigilant, so people might use that as an excuse to stay profits.
Donald Selkin
I think the markets will overlook the weak economic reports. Everyone knows numbers in February and March were terrible due to the snow storms and oil prices.
Donald Selkin
We're in good shape for now, but there's still going to be this anxiety, where people are looking over their shoulders, waiting to see what's coming next on the national level.
Donald Selkin
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