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Letter "P" » Peter Cardillo Quotes
«I just think they're very cheap. There's no core news for this to happen -- I just think a lot of these stocks have been badly beaten down and investors are starting to get around to looking at them.»
«Any rally is going to be short lived because someone can say the wrong thing (about earnings).»
«Basically we had a lot of good earnings in technology but we also have some warnings going forward.»
«I think volume is going to pick up to begin with and that the markets probably, by end of this week, are going to begin to get out of that resistance level, both the Nasdaq and Dow. And I think we're probably going to test the old highs by the end of year. Leadership, I think, will come from technology and telecommunications stocks. The economy is headed for a soft landing. All the fundamentals remain in place. And, last but not the least, there's been a tremendous amount of build up in cash reserves. That money is going to be put to use.»
«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.»
«From an interest rate standpoint, it's negative. On the other end, if the economy stays strong, corporate earnings will stay strong.»
«In technology, it's just a lack of serious buying. The market needs to be convinced that the Fed will not raise (interest) rates for the remainder of the year. This is all part of the summer doldrums, but we see cyclical stocks doing a little better here.»
«The market is beginning to focus on the rising price of oil. That, in my opinion, has rekindled doubt about what the Fed is going to do.»
«Obviously the Dow is being helped by the strength in Philip Morris, along with Microsoft and Intel. It's an 'old economy'-'new economy' rally. But volume is not all that great, so obviously the market will continue to guess what the Fed will or will not do.»
«It's a pick-and-choose market here. My thought is that (the Fed) is going to stay pat and they're going to use some tough language. We're going to see a vigilant Fed, and that should keep the markets on the defensive.»

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