We think right now we're looking at a range in the intermediate term between the current level to 8,000 and down into maybe the 7,300 area. At the same time, as you look at those levels to the 8,500 target we see for next year, there's still good opportunity for gains.
More Quotes from Stuart Freeman:
We've been thinking that the Nasdaq, as an index, would likely outperform a lot of the other indexes this year. It's a lot about secular growth. We're seeing growth in technology. And for the most part, it's been a tech year.Stuart Freeman
We think Gap is a strong growth company whose valuations have become attractive in the last, really the last three months or so. I think the surprise of the year right now is that the economy is not so strong, that inflation will heat up and that these growth stocks that have carried the market for the last three years are going to reassert themselves.
Stuart Freeman
It doesn't look like inflation so far is accelerating. The market likes that because it worries less about the Fed raising rates too aggressively.
Stuart Freeman
Certainly, part of the market's worries right now stem from oil. You still have instability in the Middle East, and there's a fear that prices will move dramatically higher.
Stuart Freeman
You've got interest rates on your side, inflation on your side. Earnings look good in the second quarter and we think they will be good for the balance of the year. We don't see the indicators to suggest we've got problems at this point.
Stuart Freeman
There are a lot of features behind this market that are very favorable. Inflation news recently for August was very positive. Rates dropping have been a positive for this market and earnings still look good.
Stuart Freeman
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