I find it incredulous that you can take a two-year bear market in the Dow and reverse it in two days, ... So I'm not sure this is too sustainable past another day or so before the money flows back into Nasdaq.
More Quotes from Larry Rice:
There's a lot of uncertainty with these deals. You've got Congressional investigations that will take place. Foreigners come in and Congress will take a really close look at it.Larry Rice
It's amazing how investors penalize IBM ( IBM Research , Estimates ) for the progress they've made over the last few years, ... And, yet they'll pay 100 times revenue for other companies. The second half of this year, it looks very good, very strong for IBM's businesses. I'd continue to buy IBM for portfolios here.
Larry Rice
If he (Fed Chairman Alan Greenspan) doesn't raise rates and goes to neutral, the market is going to go crazy if he doesn't raise rates but stays tight, everyone will say it's expected -- so why be a hero ahead of this meeting ... I expect he's going to do nothing and maintain a very vigilant bias. I think he's going to be on the (lookout) for inflation.
Larry Rice
Whenever a company like Dell implodes, they go on to other names. It's a rotation -- put a dart in one of them and go on to the others, ... It's a few stocks, as it's been for the last few weeks, that have impacted the averages. I don't think the volatility this morning was any different from any other day.
Larry Rice
I don't expect this economy to show any signs of slowing down. One of the strategists a couple of years ago alluded to the battleship -- you don't stop this battleship in mid-water unless you have a bunch of torpedoes and the anti-aircraft, and the fact of the matter is, there aren't enough torpedoes out there yet,
Larry Rice
There's a continued choppiness coming from yesterday's meeting it's really a trading environment instead of an investing environment, ... Action has been dominated by stories in individual stocks but, to me, it's just continuing the trend of more money chasing few names.
Larry Rice
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