Just found this tidbit on RB:
ya gotta be bullish!."It's not a big roaring bull market. It's just
a slow but steady climb towards
resistance in terms of the Nasdaq. We
could get up to 4,400 or 4,600 by the end
of the quarter. In terms of the Dow, we're
getting closer to resistance and we're in
the zone. Maybe we can go up another
couple of hundred points," said Richard
Suttmeier, chief financial officer, Joseph Stevens.
"If you are a short-term trader you like to see some more gyrations. But
certainly from a longer term perspective you want to see the market broaden
out, have a very nice looking pattern to it technically so that you are not getting
hurt too much in a market that's going to grind higher. It looks like that will
continue. My theme is productivity. The Federal Reserve stated that that is a
very important point in moving the economy forward. The Fed will allow a
stronger growth rate as long as productivity gains remain strong. And I think
that's going to be the case," Suttmeier said.
"When you look at the stocks that we're going to talk about, they all have a
productivity theme, if you will. In the case of Global Crossing (GBLX: Research,
Estimates), they are literally building the highways for e-commerce. Simple as
that. CMGI (CMGI: Research, Estimates) is kind of an incubator. And the
new-issue calendar is built a bit and these stocks like a CMGI have been
annihilated in this market. So if they have enough money to put their name on a
stadium in New England, I think they will be able to spin out some B2B
companies that will make a lot of sense in the long run," he said.
"InfoSpace (INSP: Research, Estimates), they're the platform provider of the
wireless devices -- content and wireless devices, and that will be a huge
productivity play moving forward. E-mail is replacing overnight letters. You're
going to have approved signatures on e-mails and it's just a booming business,
for Mail.com (MAIL: Research, Estimates)," he said.
Disclosure: I'm long INSP and CMGI |
