There's just no obligation to jump in until we start seeing better (profit) reports and that won't be until July.
More Quotes from 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
The oil prices are creating a few problems. Prices are impacting the PPI report and also consumer prices and are also hurting our trade balance, what with the weaker dollar, because we have to pay more to import oil. However, there aren't a lot of inflationary pressures here beyond that.
Michael Carty
We're seeing a little turnaround, after so much negative news. It's also the end of the quarter, so portfolio managers need to do a little window dressing.
Michael Carty
Even with oil, the expectation seems to be that higher prices are something we have to live with for now.
Michael Carty
Intel is probably the most interesting of the three stocks that I'd be talking about today, simply because Intel did have that very poor -- they did come out with a report saying that they were going to have fewer sales than everybody thought they would. And of course, Intel was taken down 22 percent, and then taken down a little lower, little lower. Right now it's down quite a bit off its high for the year. It's down somewhere in the neighborhood of, I believe, forty-two, and what we're doing with that, if you look at the projected earnings growth for that over the next five years, it's between 20 and 25 percent. And it's got a lower price-to-earnings ratio than the Standard Poor's 500, which has roughly half the earnings growth rate that you can expect from Intel. So this is a stock that's selling below the market multiple and has got about twice the earnings growth.
Michael Carty
The path of least resistance for this market is up right now.
Michael Carty
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