I think that there is an upward bias. The market for the first time in a long while is wanting to go up.
More Quotes from Douglas Altabef:
These accounting worries go right to the underpinnings of trust and confidence. If trust isn't there, you're tugging at the loose thread of a cheap polyester suit. People are worried about what other shoes are getting ready to drop.Douglas Altabef
I think as the year goes on there is going to be more conviction about an economic recovery. I think the market's sort of sideways with an upside bias at least for the next couple of months. I think we'll have a nice fourth quarter.
Douglas Altabef
With Iraq off center stage, there is more good to focus on than not. The prospect of a double-dip recession will fade, I think.
Douglas Altabef
Three years ago people actually thought that the Dow could go to 36,000 and it did the opposite. It's when people have really given up on the prospect of a real rally that you see a real rally, but try telling that to most investors now. Three years ago there was no reality dose, today there's no perspective.
Douglas Altabef
My sense is that you'll see a few more days of gains as a lot of money managers want to be long the market through the quarter end.
Douglas Altabef
O'Neal has a good sense of where the business focus should be. He's been able to take advantage of a good business environment.
Douglas Altabef
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