Quotations

«It does not provide a great backdrop, at least for now.»

«The market has got to find a catalyst. The only catalyst out there is earnings.»

«I'm saying at this point, it's going to prevent the market from going much lower.»

«We're seeing pre-releases starting in 'old economy' stocks - companies that are not leading-edge tech companies but are more affected by this dramatic rise in energy prices.»

«It looks like everything but tech is the name of the game. We have a continuing rotation away from technology. People are absolutely concerned about valuations in technology and it is shown again in the Dell report.»

«There might have been a little interpretation into the comment where he (Greenspan) says productivity will slow at some point, causing the market to not have the catalyst to go (significantly) higher today.»

«Technically, the Nasdaq is trying to hold important support at 4,000 but it hasn't broken out of its trading range. One of the reasons it hasn't broken out is this semiconductor/chip story -- it's going to keep that index rather subdued.»

«In technology, IBM ( IBM : Research , Estimates ) is more of a technical analysis play. The stock has broken out, or getting very close to breaking out, of a trading range. And I think the market's still going to give a premium to quality companies in technology. IBM being listed doesn't get that Nasdaq appeal, however. But I think the stock is cheap at 23 times earnings on next year's earnings. And their big server market and the other types of technology they have are doing very well in the service sector.»

«Right now, I do look for a 25-basis-point hike. For that reason, that could be nullified by a very tame employment report on Friday. Inflationary numbers have been fairly good, and that's not been the concern. It's been: Are we slowing down fast enough? Where are the cuts coming? And Mr. Greenspan basically said: If I'm confused, we're going higher. And I think that's the way I'm reading into it. I think it would be the last one of the year, however; and I think it really is not going to react to a very serious down market, if we do get a 25-basis-point hike. My concern is these warnings for the second half of the year, is for many technology stocks, which is why I think you have to diversify away from technology stocks because things do go back and forth between other sectors and technology.»

«I think people are looking at Applied Materials and Cisco and hoping for a slightly different reaction. There's a little bit of a disappointment as to the reaction to the earnings, which brings to the forefront that there's still this nagging concern about second-half slower growth and how it will affect technology in general.»