This is a market that has no confidence. Corporate confidence is shot, confidence in earnings is shot, and confidence in Wall Street analysts is gone. Only time is going to heal that.
More Quotes from Brett Gallagher:
It's always been the case of something you suspect but have never been able to prove. Earnings seem improbably smooth when you look at the businesses of the company.Brett Gallagher
I think it's extremely important for U.S. investors to get this idea. It's slowly becoming more mainstream. As the world has become more global, it's more important to get best-in-class, and the only way you'll do that is to compare companies globally.
Brett Gallagher
There's nothing for investors to latch on to with conviction. We're being tested on both sides. With no clear-cut view that things are getting better, the (economic) recovery keeps getting pushed out.
Brett Gallagher
It's unlikely the market would get a boost from that kind of a result. This time we have such a good outcome priced in that I don't think we'll have a huge rally once this is over.
Brett Gallagher
Investors had to decide this (Monday) morning whether last week's rally was real or just a knee-jerk reaction to the previous week's losses.
Brett Gallagher
We seem to be certainly playing to the ebb and flow of the news on the Middle East. You had talk that the national security level would be raised and the market sold off immediately, then popped back up once it was dismissed. That's the kind of market we're in. It's rumor-driven, technical and the fundamentals are not playing a role.
Brett Gallagher
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