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.
More Quotes from Phil Dow:
We're trying to take advantage of value where we can see it, and there are some obvious places. Computer Associates ( CA Research , Estimates ) is the third-largest independent software company. It trades at a PE multiple on forward earnings. It's about a third of Microsoft's today. It's growing at about 16, 17 percent, trades for about 13 times earnings. We think it's a very attractive asset. We think it's a great one and could go up as much as 30, 40 percent in the coming year.Phil Dow
Today's action depends on your investment philosophy,
Phil Dow
If you look at the earnings so far, we've had on balance in-line or mildly positive surprises. Yet the guidance going forward had been guarded. If that continues, you're looking at a more subdued market response this week.
Phil Dow
My sense is that we may be at a really important transition point. Yesterday was a pretty important day. (The market) turned around on expanding volume, which indicated some real buying going on.
Phil Dow
Terrorism threats have been a wildcard out there and it looks like its happened again, ... It certainly looks like there is panic selling going on in Europe, but the day could still end flat to modestly higher.
Phil Dow
It's frightening if you chase performance. One reason why investors went into Japan is that they saw the markets perked up there.
Phil Dow
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