There are still concerns that profits will slow considerably, and that will hit stocks. But I think there are a number of stocks that are just oversold at these levels.
More Quotes from Michelle Clayman:
Earnings have been pretty astonishing, but the market hasn't always responded to that. I think people are feeling better about tech earnings in particular, but we still have worries about interest rates and what that might do to the recovery.Michelle Clayman
There's still a great deal of uncertainty. We've got a pretty worrying international situation. There is a decline in confidence in business leadership based on a few bad apples, and a certain complacence about the economic data.
Michelle Clayman
This is going to be a positive year for the market, but the growth is going to be slow. The quick resolution to the Iraq war has been a positive and I think people took a lot of encouragement from that, which is why you've seen the run we've had, but the economic news has been mostly mixed.
Michelle Clayman
I think there are a number of things going on. One is Procter Gamble has done a great deal of restructuring. They're coming back to their core businesses, brands like Tide and Crest, ... They've got rid of a lot of the smaller brands. They've also consolidated some operations. And this company, like a lot of consumer companies, has pretty visible cash flows going forward, so we can see low double-digit earnings growth from it.
Michelle Clayman
Last week was down, so some of today is a reaction to that, with a bit of a bounce.
Michelle Clayman
The run-up is probably due to a number of factors.
Michelle Clayman
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