Tony Dwyer Quotations

Nobody can figure out what's going to happen with the market -- they're all guessing. Let's say CNN or Fox or MSNBC brings up a picture of a GI in a bad situation. The market takes a dip. Is that a fundamental or a technical move? No, it's a war-driven, live-video stream move, which means it's totally unpredictable.

Cash flow estimates, we think, are too low and we have a buy on the stock; we think it can move higher here.

If someone is planning to get long today, God bless. People are trapped long and they're hoping to get out and they're hoping it recovers. Hope is not a good investment thesis.

the people that have heard that this Internet thing is pretty neat, buy they didn't want to go out and spend a lot of money on a computer.

I think we are headed higher over time. I think people should use any pullback as a buying opportunity.

I think we are going to get a pause. I do think that the Nasdaq has clearly overshot the fundamentals.

People are looking for something that isn't necessarily going to happen. They're making the assumption that things are going to turn negative and there's no evidence to support it.

People have gone from worrying how much they lost to worrying about how much they have left.

That fact alone could act as a stabilizing force for the market this week. The U.S. consumer has been the linchpin of this economy. So this number doesn't bode well, especially as we enter the Christmas shopping season and retailers are already suffering because of the West Coast ports dispute .

We're due for a week's worth of consolidation. Just some backing and filling. Following that, we can head higher.

The Dec. 8 deadline -- it's a geopolitical concern.

There are a lot of gut-wrenching, earnings-driven disappointments that you have to wade through to be able to come out the other end,

What's important for investors to realize about the Dow is it's not just steel stocks and industrial-related stocks. There are growth stocks. There are financial, entertainment and industrial stocks. So when one sector isn't doing well, another sector may be doing well. And that's exactly what's propelling the Dow.

We've had a market where negative news on the economy and the corporate profit picture have dominated. Companies may have beaten lowered estimates, but we're expecting weak economic reports this week.

You don't know how this is going to end. No kidding we're going to win, but how are we going to win? There's nothing to do but just sit on the sidelines and pray.

We could pull back a bit, but it will be limited to about a 5 percent decline and it will be quick. This market rally has not been about buying interest, but about the total lack of selling interest.

Technology should fare real well, given all the business being done on the Internet right now. Those subject to the Internet, like a Sun Microsystems, those type of companies should have excellent earnings.

Our theory in the Internet is buy the street, not the store, ... We'd rather own the street instead of just an individual store on the street. And Earthlink certainly fits that bill. And again, relative to the other stocks, it's the cheapest in the group.

You're telling me an institutional manager is going to start buying because he sees a WorldCom exec going to jail. I'm not buying it. Hopefully, the process is a little bit more in depth than that.

You would imagine that after a 19 percent gain in Nasdaq and after people thinking about it over the weekend, that they'd be out there selling. But it ain't happening.

This is that point where you hope for a bounce, but I don't think the time is right for a meaningful move up. I don't know if it's going to last through the day.

This is a market where too many people have already bought. Everybody is already in, so who's going to be the next buyer?

They supply almost all the largest telecom companies in the world with some of the backbone products for voice messaging and things of that nature, ... This stock has surprised analysts -- met or exceeded analyst expectations for 20 straight quarters.

There's a confidence in earnings that is offsetting the other trends. If $62 oil, a downgrade of GM and bombings in London can't derail the markets, what can?

There's a confidence in earnings that is offsetting the other trends,

There's a bias, because of the bubble-popping, to be negative no matter what after we've had a good rally, because you don't want to be accused of being too optimistic.

It's just a proposal. Today's the presentation, but then they have to get it through.

Earnings have grown much more than stock prices. I would be a broad buyer of stocks for the next year.

Everybody is done with the year now, so it's just going to be traders that dominate the tape. I think that you're going to see a lot of intraday volatility without much real movement.

Stocks are clearly under pressure. You would expect the higher rates to negatively impact the consumer.

Nothing for the time being suggests more than a moderate pace of rate hikes. There is a bit if nervousness out there. The other thing is that the market has had a good run and this is a normal pullback with a little bit of profit taking going on.

They've taken some of these stocks down to really low valuation levels in tech and telecom and the leaders are going to come out ahead of the game. This is an opportunistic environment for any of those companies that have cash and are looking to acquire technology.

These numbers look pretty good. The problem with the group as a whole is that we have signs of a slowdown in the economy, and they are acting like consumers are never going to spend another dollar.

It's really a continuation of the selling that we saw last week. Sentiment was negative going into yesterday, so a lot of people are using the strength in yesterday's prices to cut losses.

Instead of being a new bull market starting, this is just an oversold bounce from the downtrend, ... The sharpest rallies occur in bear markets and right now, everybody is like a deer caught in the headlights.

Instead of worrying about this quarter's earnings and the rate hike, let's look at 1998 now. Let's see what the kind of earnings we can have then. If there's no inflation in moderate growth, those numbers could come in very good, and the market can continue upwards.

Investors, analysts, everybody that has anything to do with Wall Street is looking for the market to go down. And in that environment the sentiments becomes so negative that there is only one direction that the market can go, and that it up.

In terms of the fundamentals of what Alan Greenspan said, there is nothing new there. The fundamentals are great.

I constantly hear the market can't keep going higher, that this advance has gone too far to fast and that a major decline is imminent. But every time I try to find an indicator to make me want to sell, I find something that makes me want to stay long and get longer instead.

You can't get in when you need to because it spikes too quickly, and you can't get in early because of this continual grind lower.

The futures are higher this morning because the markets don't really see anything happening. If nothing happens we'll probably get a relief rally. Today is a day of reflection for everybody. It's also a shortened trading day, so volume is expected to be light.

The combination of weaker industrial production and weaker consumer sentiment number

The market has done poorly over the recent couple of days and weeks. Three weeks ago, the fundamentals were improving and all was well with the world. Now there's depression back on Wall Street and it looks like the 'Santa Claus' rally is not going to happen. Having said that, this market is also driven by emotion.