It's a mixed picture. There's no question that the news is a lot better, but it may be priced into the market.
More Quotes from Douglas Altabef:
It actually isn't a bad day -- it's a good day for techs. I think the most important thing is that earnings season is going pretty well. A lot of this is perception, and the economy may not be robust, but it's not sick. There's certainly a lot of anxiety out there among individual investors.Douglas Altabef
Below the current, the economy has been improving far more than the market reality would indicate. And all things considered, the market is really behaving quite well today Thursday. But there's still tremendous anxiety the market is held hostage to individual corporate news and accountability.
Douglas Altabef
It's always been a high-multiple stock among the retailers based on the reality of terrific business performance. Wal-Mart has many times in the last 15 years been a lousy investment possibility because it's priced so high. Our thinking is they've got to always be right.
Douglas Altabef
This is not an expensive stock. We think Merrill certainly has a significant amount of upward opportunity.
Douglas Altabef
I think that there is an upward bias. The market for the first time in a long while is wanting to go up.
Douglas Altabef
Ostensibly, the advance was caused by oil coming down and some of the comments with the beige book.
Douglas Altabef
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