This year, the market is trying to tell you to be selective. If you look at the stocks that have moved, it really has not been just 30 big stocks it's been all asset classes, all styles -- value and growth have delivered. The ones that are really getting fundamental financial guide, post-traction are those that are delivering. So my guess is selectivity is the key, and I think you've got to be in kind of best-of-breed solutions right now.
More Quotes from Phil Dow:
We're at the tenderloin of the earnings season and you are going to see powerful earnings reports from a lot of companies this week, and I think while we have got economic reports, earnings are going to be the focal point of the market right now, ... I thPhil Dow
One surprise in 2005 will be that business capital spending will be back in a big way especially as cash is at record levels on balance sheets and as companies ensure that they stay competitive.
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
It's amazing to see intellectual capital turn into profits so quickly.
Phil Dow
I think we are in a recovery, but no one ever believes it ahead of time. To me, it's pretty encouraging to see volume expand when the market is going up. And while the news is not improving, the market seems to be holding up.
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
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