Today will be a test of the market to see how it handles some negative news in the tech sector, Dell being that test.
More Quotes from Barry Hyman:
I think the Federal Reserve Board acted properly and left the window open for lower interest rates, which will please the market.Barry Hyman
Don't expect 86 percent this year on the tech stocks, ... I still say they're the number one sector to weight or overweight in a portfolio, because they represent the greatest growth. Your companies at 8-to-10 percent are languishing. Companies with earnings, who cares. It's a 100 times earnings. It's 30 percent growth that matters in this market.
Barry Hyman
As long as we continue to see good earnings and the reaction to good earnings positive, then you will see Nasdaq as the sector of choice. The Dow is being weighted by this conflicting (economic) story -- stronger consumer spending and OK-looking inflation numbers. But the tech (sector) is merrily rolling along.
Barry Hyman
For some reason, today we're painting the whole picture with a broad brush and a few profit warnings are really damaging that landscape for the companies that are good (performers).
Barry Hyman
There was rotation out of the strong sectors into the weak sectors, ... Techs really got hammered. Volatility, up and down, means there are just as many sellers as buyers, and people think the (semiconductor) sector might be a little pricey, especially as we come into an economic slowdown.
Barry Hyman
There was nothing Greenspan said that was harsh and sometimes no news is good news,
Barry Hyman
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