Until earnings and forecasts start turning around, we are going to stay stuck in this tight trading range. There is no incentive for buyers to get back in the market.
If the economy has turned, as all these reports keep showing, the investment community needs to see earnings turn around too. There is still a lot of money on the sidelines.
Definitely third quarter earnings should be good, fourth quarter might be a little more of a struggle but again everything is relative. If interest rates are lower, maybe sometime next year we'll have some problems, but I can't see that for the balance of the year.
I honestly don't see anything in the market's way. Earnings continue to be excellent. Inflation is obviously at bay from Mr. Greenspan's conference yesterday.
I honestly don't see anything in the market's way, ... Earnings continue to be excellent. Inflation is obviously at bay from Mr. Greenspan's conference yesterday.