I think we go nowhere for the next three weeks in terms of a real move in the markets. What's going to carry us is reduced uncertainty relative to the Fed, very good numbers on the economy and very good earnings as we wind up the year.
More Quotes from Kevin Caron:
Oracle had gotten to valuations that it probably didn't deserve yet and the sell-off is a reflection of concerns over valuations. It's still a very good software company. We expect a little slower revenue growth but overall, they are an impressive company.Kevin Caron
Right now the market is digesting some very good gains it's had over the last year,
Kevin Caron
If the Fed is just neutral, what's really going to move the market higher is more progress on the earnings front. You're going to want to be overweight in those companies that have the greatest underlying earnings growth, and that's technology,
Kevin Caron
What's going to drive stock gains going forward is the earnings, and the current crop of earnings may have already been accounted for. I'm looking for the earnings in the second quarter and particularly the second half of the year to drive stocks higher.
Kevin Caron
The days of multiple expansions due to falling (interest) rates are largely behind us so when it comes to portfolio management, the old strategy of just 'buy the index' doesn't work anymore, ... What you're really coming down to is going back to a very old fashioned stock-by-stock approach to putting together a portfolio.
Kevin Caron
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