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.
More Quotes from Michael Carty:
Tech has been so weak for so long that no one wanted to touch it. But people are looking at it again. Although the tech picture looked bleak for the last three years, people are seeing that there are going to be survivors, the leaders in the sectors.Michael Carty
No one wants to concede right away because of what happened before, but I think it (the market) is going to charge ahead like this is a clear Bush win.
Michael Carty
We are not looking for any major increases in interest rates.
Michael Carty
Right now the general direction is up and that's because of the economy. But there is still a tremendous amount of skepticism about analysts' forecasts and the ability for corporations to repair profits that could challenge us next week.
Michael Carty
Because inflation is modest, and worries about that are starting to diminish, I think the focus will turn to earnings, and the earnings are going to be very strong.
Michael Carty
The market is moving forward and then back again. We're seeing the glass half-full one day and half-empty the next. This shows that investors are still very tentative and that's also reflected in the light trading volume. The bear is still very young and its having a difficult time standing up.
Michael Carty
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