Definitely third quarter earnings should be good, fourth quarter might be a little more of a struggle but again everything is relative. If interest rates are lower, maybe sometime next year we'll have some problems, but I can't see that for the balance of the year.
More Quotes from Jack Baker:
There's hardly anyone here and the market is highly susceptible to rumors and any other kind of news. At any given time, you could see a move in either direction of 100 points or more and it doesn't signal a change in direction.Jack Baker
The political situation starts to cool a little, but then we get the Ashcroft news and the market freaks out.
Jack Baker
I think Greenspan is setting the market up for something much more palatable. If you get the Dow back to 6,500 or 6,600, and you take that real speculation out of the marketplace, people are going to receive the rate rise better. I think the market has a chance to rally after that.
Jack Baker
They tried to mount a rally on hopes that a delay in the Iraq deadline would help, but I don't see how it would. This war is going to happen. It's just a matter of when. The deepness of the problem with the stock market right now is much more rooted in the economy and fundamentals than anything else.
Jack Baker
I'm not really happy with the volatility. What I am happy with is the market's ability to rally after these sharp declines.
Jack Baker
I keep saying it -- sell these rallies, ... There are too many clouds out there. There's no chance for this market in the near term. It makes no sense to make new commitments.
Jack Baker
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