Peter Cardillo Low Quotations

With the price of oil moving up and the tension in the Middle East would suggest that the possibilities of a recession are increasing in terms of inflation, ... The Fed's number one target is to keep inflation under control. If energy prices continue to accelerate then the Fed doesn't need to raise interest rates because the economy is going to slow anyway.

We have a very mixed situation. There are a few bright spots, but it's a bit disappointing that there hasn't been a follow through from what we saw Friday (with stocks rising). However, that is to be expected as the market responds to oversold conditions and tries to set a base.

Many (tech and telecom stocks) are undervalued. If we have a period of slow growth followed by an acceleration in the economy, I think we could see money flow back, and the one thing that's been very consistent in this market is the rotation factor, ... It tells everyone money is not leaving the stock market.

Many retail investors were in panic mode, however many of them slowly began to come back to the marketplace as the cloud of uncertainty began to lift.

EBay came out with good numbers, but the outlook for the fourth quarter and next year wasn't so good, ... We're probably looking at a lower open, with a mixed trading session, as people respond to individual earnings and keep an eye on the price of oil.

One of the three things worrying the markets for weeks -- namely, interest rates -- has diminished, today, ... But the geopolitical incidents and higher oil prices -- which are connected -- have sent a chill through global markets, creating this buyer's strike, and we're following suit.

There's a little volatility on the downside ahead of the long weekend, so we're seeing money flowing out of the Dow and selectively going into the tech arena. Industrial stocks are not doing so well.

We're looking at a slightly lower open as we see some consolidation. At the same time I don't expect the market to give up much of what it has gained over the last two days.

The end of the strike in New York City is, obviously, a positive. It was slowing things down in terms of businesses and spending in a very important time of the year.

A lot of today's market is due to the flow of money going into pension funds and money managers. These are the types of investors who are more inclined toward the large cap stocks.

I believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week.

Obviously it negates the theory about Dow 1,000. What (the new milestone) tells us is people have a lot of confidence. Money is still flowing into the United States despite some question marks about inflation. Nothing has changed.

Some of the economic data we have been seeing are quite strong, but -- if you really look into it -- there are signs the rate hikes we've seen have begun to slow the economy.

Investors should be out there, picking up some stocks that are trading near their lows or have bounced off their lows and I think that have good futures. And among them: AT&T ( T : Research , Estimates ) -- their wireless division came in on target, 25, 30 percent growth, and I think that's what is going to carry them. Stock is hovering around their lows here. I think it's a 'great buy.' And I think in the next market rally, that the stock will have a nice bounce.

The good news is that on the consumer side of things, spending actually declined, and the real good news is the deflator was lower than the last quarter and there was a revision from the first quarter. So when you really dissect it all, it wasn't all that bad.

From a technical standpoint, the fact that the market is testing the lower end of the trading range with low volume suggests the risk of the yearly lows being tested increases.

Futures are pointing up a little bit. I think we will see a typical August Friday: Low volume and no economic data. I think we will see some winding and grinding for most of the day.

There is no question that the State of the Union message last night was very strong and very positive. Obviously the economy continues to do very well. Inflation is low and interest rates are still very low.

Until we get the full force of earnings and economic data later in the week, I kind of expect us to remain at the lower end of the trading range,

Until there is a positive indication in economic data that the economy is slowing down, the Fed has to stay ahead of the curve.

Basically we had some good overseas trading. I think that is basically propelling us to a higher opening here. I just think the market is living with the fact that oil prices are trading around these levels, and it's getting a lift from the 10-year yield being below 4.60 percent.

The market is playing follow the leader. Oil is higher now but not affecting things, but if the price shoots above $75 a barrel it will weigh on us. It's not about earnings anymore and something has to give, and at this rate it looks like it may be equities.

Here is a classical story of a stock that is trading under book value. AT&T, the same thing. I believe it is up 4 or 5 points from its low and basically trying to stabilize at these levels, when it is all said and done, it still probably will be the leader of the pack. Again, a company selling under book value,

The volume is low and that's going to make it volatile, but I think things look promising heading into the new year.

The low volume confirms that everyone is sitting on their hands. They don't want to venture until there is clarity on the Iraq situation.

The lower oil prices go, the higher we may see the stock indexes moving this afternoon.

The perception is turning toward the fact that the economy is slowing and we can still continue to grow even if the economy grows at 5 percent.

I think we'll see a mixed week -- probably a little bit toward the upside -- but a lot depends on the price of oil. If oil stabilizes around here we could inch a bit higher. If it backs down to the low $60s and stabilizes, then the market might rally.

I don't think the correction is over. I think we can get as low as 8,250 before we see stabilization on the market, and then I think we will begin to climb.

We have the weapons inspectors returning, mixed corporate reports and no new economic news to focus on, so stocks are taking a little pause, ... The broader market is mixed to lower but is showing no great declines, while the techs continue to perform a little better.

We did get surprising oil inventory data, but it's still below that $60 range. The market is running against options expirations, which are causing technical difficulty.

The selling in financials is an anticipation of lower earnings due to a slower economy, ... From the point of view of interest rates not going up, it's positive.