If the focus on the market were to continue to go up even with bad news, that would indicate to me we're going to recover.
More Quotes from Phil Dow:
Anadarko is down relatively dramatically in the recent week, ... For value, we think the best name in the group is Chieftain International.Phil Dow
There is an absolute certainty among investors that whatever news that happens is going to be bad. The October lows aren't sacrosanct and could be broken. We have a nation that's pre-occupied with what can go wrong. We'd need a booster shot of good news to move anywhere.
Phil Dow
This is the first evidence that things might be better than they thought, and I think traders don't quite know what to do. I think we've been conditioned to bad news -- it's like a beaten-up prize fighter. I think it's a dangerous time to look for more of the same, meaning looking for more negative.
Phil Dow
It was a strong day for technology and small stocks. But most major stocks were mediocre performers,
Phil Dow
Bit by bit we are seeing the pieces of the economic mosaic come together that could support a sustained stock market rally, at least in the short term ... But in the longer term, there are still significant questions, no doubt about it.
Phil Dow
This year I was a little surprised (at) how negatively people viewed the economy and that's translated into a very cautious trading community on Wall Street, ... I think we did pretty well. We had a 4.4 percent growth in GDP. That's better than in recent history and better than some of our trading partners.
Phil Dow
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