It's been a more typical September than I expected. Earnings preannouncements have been disappointing, and surprisingly so, and economic news has been disappointing, and surprisingly so. I expected September to be on the strong side because the year overall has been so bad.
More Quotes from Jim Waggoner:
I think many of the other tech stocks have begun to benefit. Fundamentally, since the market is moving away from desktop computing, a lot of the stocks, a lot of the companies have begun already to benefit fundamentally. But the market seems still to be tied to Microsoft as a stock, and slowly but surely I think we're going to unplug, detach from that, and technology stocks will be looked at independently. Microsoft will slowly lose its status as bellwether of technology.Jim Waggoner
There's not a lot else going on, so something like Cisco takes on added importance. It's important, not so much for the numbers, but for the nuance.
Jim Waggoner
We're not recommending purchase of it, but I do think that the worst is probably behind. I do think that there is probably a bounce due in the stock. It's Microsoft's turn at the plate, if you will. I think the actions really will start to play in their favor. I think a stock buyback program begins within the next six-to-eight weeks. I think that's one line of defense that the company has for the stock.
Jim Waggoner
The market was sensitive to any good news and it got a double whammy of it yesterday Tuesday.
Jim Waggoner
The percentages say that the day after Christmas, the market goes up. Eighty percent of the time, stocks rise.
Jim Waggoner
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Based on Topics: Disappointment QuotesBased on Keywords: preannouncements
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