Many (tech and telecom stocks) are undervalued. If we have a period of slow growth followed by an acceleration in the economy, I think we could see money flow back, and the one thing that's been very consistent in this market is the rotation factor, ... It tells everyone money is not leaving the stock market.
More Quotes from Peter Cardillo:
Obviously, the market was disappointed in Apple and AMD and you also have to realize that Mr. Greenspan has been reiterating his stance on inflation and the need to stay ahead of the inflation curve,Peter Cardillo
The market opened higher, after some good economic numbers. However, we're seeing a pullback due partly to volume being lighter than usual.
Peter Cardillo
That's positive for the market, because consumers feel the economy is going well. After yesterday's (Monday's) declines, people are coming back into the market and earnings are good.
Peter Cardillo
It's a busy week in terms if earnings with three sectors of the technology sector reporting. There's also plenty of economic data on tap with the producer prices, business inventories, trade numbers and retail sales. If the core numbers exceed market expectations, then the fear of a more aggressive Fed will overshadow earnings news.
Peter Cardillo
A bear market is just the opposite of a bull market, when everything that's positive seems to turn into a negative and stocks continue to fall.
Peter Cardillo
The market is trying to rally again and that's encouraging. But whether yesterday (Wednesday) was really the big capitulation day remains to be seen. The market is probably going to drift in the next week or so as it finds its footing after the run-up.
Peter Cardillo
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