I think the stock action has been very positive. It's getting to the point where people are more afraid of being out of the market than getting in it.
More Quotes from Michael Carty:
Even with oil, the expectation seems to be that higher prices are something we have to live with for now.Michael Carty
The new orders index was better, profits are going to be up a little, interest rates are at a record low, there have been so many layoffs that that may start to dry up, there will be rising productivity and higher profit margins -- all these things combined could give some support.
Michael Carty
They go into enterprise technology where they allow companies to access all kinds of systems in a secure mode. The company continually introduces products, ... We just jumped in, even at these levels, just about a week ago. We'll continue to buy this stock for many of our accounts. Our analysts are very high on it. We expect it to outperform the market over the next six-to-12 months.
Michael Carty
But after three days of selling, I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days, ... We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
Michael Carty
These concerns are going to keep us from going too high. The general trend is up, but it won't make investors euphoric, at least until after the election.
Michael Carty
Investor psychology is switching from fear to a little bit of greed. What you see is psychology working here today.
Michael Carty
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