Michael Carty Market Quotations

We're in this confessional period where there's nothing but bad news coming into the market place now and investors have become really cynical.

We're seeing some jitters about the Middle East as it relates to our presidential election. But I think the trend should remain up. Earnings are certainly strong, and I think the market should follow that. The only thing we have to fear is more talk about interest rates.

There are some rumors that although the market is open, a lot of people have decided to take long holidays, and so I think you'll see a drop in volume next week.

There are a lot of good things happening right now, but the market continues to focus on Iraq, interest rates, the presidential election, and particularly right now, the high-profile earnings misses.

Sentiment, generally, is the big problem now. Even as market fundamentals are starting to improve, people are reluctant to buy,

I think the market came down over the last few days and is recovering now, and that recovery can probably continue through the end of the week.

I think we're seeing investors being convinced that we hit the bottom and from here we'll go through some softening of the economy. But if we're going to get back into the market, we want to do it now because the market is a leading indicator.

I think a couple quarters down the road, the worst will be over. This is a terribly oversold market and it is undervalued.

Stagflation is in the back of the minds of many investors right now. When they see energy getting quirky, they want to duck. And when they see the market rally, they want to take some chips off the table.

I think the stock action has been very positive. It's getting to the point where people are more afraid of being out of the market than getting in it.

Most analysts are calling for the market to rise between 5 percent and 10 percent next year, but I think it could be more like 15 percent. The economy is heating up, the employment picture has been improving and companies will begin spending more.

The path of least resistance for this market is up right now.

The reaction yesterday was just crazy. I think the market is bouncing back from overreaction.

The reaction yesterday was just crazy, ... I think the market is bouncing back from overreaction.

You've got two things: a horrible retail environment ... and oil prices are up to $32 a barrel. When energy prices rise they pervade all aspects of the economy and costs go up. ... The big thing overhanging the market is what we are going to do with Iraq.

They make all sorts of devices for reconstructing your skeletal framework and they have a number of different businesses. This is a company that's expected to grow somewhere in the neighborhood of 15 percent a year and they're going to be up about 20 percent in earnings this year, ... Its got a price-to-earnings multiple a little bit better than market but it's got a better earnings growth rate, which justifies it.

They go into enterprise technology where they allow companies to access all kinds of systems in a secure mode. The company continually introduces products, ... We just jumped in, even at these levels, just about a week ago. We'll continue to buy this stock for many of our accounts. Our analysts are very high on it. We expect it to outperform the market over the next six-to-12 months.

I love it. This is a market you've got to buy. You have a record amount of cash sitting on the sidelines wanting to go to work. A lot of the uncertainty facing the market even just six weeks ago has been resolved, such as worries about the cost of rebuilding Iraq and higher energy prices and corporate profits.

In general, the news continues to be mostly good, but people are now waiting to see what the next rotation will be in stocks, or what the next catalyst will be to move the market higher.

In most election years, stocks are up. But when you think about the kinds of policies that are going to be implemented, the market gets a little worried. So, I would say up until the election you will see some very interesting dynamics. If they feel that a demonstration is favorable, drug stocks will get in then and all of a sudden the drug stocks will start looking hot. If the economy seems to be moving along nicely the high-tech new economy-type stocks will continue to do well,

Investors are taking a 'wait and see' attitude. They want to see if the market has really bottomed after hitting the lows of the year earlier this week, and if the next leg of this is a rally. I tend to think it is.

The economy remains in a growth pattern, and normally the market would be responding favorably. But people are worried about inflation, the rise in energy prices and the weak dollar.

The earnings reports and outlooks have been fairly positive, but I think trade has been kind of muddled recently, with the market wanting to give itself room to breathe after the big run it's had.

The market is trying to build a base in what is the third-longest bear market in history. It's not going to end in one day when you're not paying attention. This is a process that you have to go through.

The market is moving forward and then back again. We're seeing the glass half-full one day and half-empty the next. This shows that investors are still very tentative and that's also reflected in the light trading volume. The bear is still very young and its having a difficult time standing up.