“I think the likelihood of gaining is reinforced this year because we've gotten to an oversold condition due to all the negatives that have weighed on stock investors,”
“The third quarter earnings have been fairly well received and I think there will be anticipation that fourth-quarter earnings could be better than expected,”
“There are a combination of forces which could be positive, on net. The market's been held hostage by the election and Iraq, and those may at least temporarily fade as preoccupations if better economic news takes hold.”
“That's what's probably bringing the market around. Low interest rates and sustained growth will bring estimates that corporate earnings over the coming year could very well be up 8 or 9 percent. That will sustain the market for the coming months, until year-end.”
“We see the Fed easing as a flu shot that will help prevent recession in 1999, but fixing the global problems that underlie the markets' malaise will require major surgery. So basically, I think the market sees through this as a temporary boost, but there are fundamental problems that aren't yet resolved.”
