You're really going to need to see some bellwether companies saying the quality of earnings is improving and that it's due to growth, not cost-cutting, before investors are going to be willing to set aside the skepticism.
More Quotes from Douglas Altabef:
We're seeing the reality of a market that does not have any great conviction. Anyone who expected a linear, 'We're off to the races' kind of tone after last week was mistaken.Douglas Altabef
We're looking at the first day of the rest of the year and it's looking like more of the same. On an up note, there is more discussion that maybe we have worked through some of the intense negativity of late and that the disconnect between the economic data and market action may end soon.
Douglas Altabef
We expect the year to end 2 to 3 percent higher or lower than where it is now. The case for it going down is a massive run of profit taking. The case for it going up is people wanting to get a jump on the January rally.
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
You'll see markets continue to do the Cha-Cha, moving higher, but paced by brief retrenchments. It's not going to be as good as last year, but I think 2004 will still be a good year for the stock markets.
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
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