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Here's what they're saying today at mid-day:
Rob Cohen, Head of Listed Stock Trading, Credit Suisse First Boston: "Today's activity is a little bit choppy. We saw some initial strength in the overall market, but the negatives coming out of the telecom equipment sector off of negative comments on Next Level Communications (NXTV | Quote | Chart | News | PowerRating) will probably keep a lid on the market's performance today. I don't think you'll see a lot of general activity because we also seem to be in a general summer trading pattern. I wouldn't be surprised if we're in a sloppy to down-trending market. On the S&Ps, 1500 seems like it's a resistance level, and we're having trouble getting through there. Otherwise, I don't expect to see a large amount of activity today."
Arnie Owen, Managing Director of Equities, Cruttenden Roth: "I'm seeing biotechs and selective technologies being bought. With the Fed's non-action this week and the 10-year at at least a one-year low, it bodes well for the market. And, if you remember back to the beginning of the year, I said that every year gets tougher, and this year the real challenge is going to be stock picking as opposed to just buying anything in a sector. As we go along, and as the bull run gets older, selectivity becomes the key."
John Roque, Vice President, Arnhold and S. Bleichroeder: "Believe it or not, there are still disbelievers in the energy story. Over the last several days we've gotten some anecdotal--and more empirical--evidence that tells us the moves to date in energy-related stocks are far from over. With the bullish action in the commodities natural gas and oil, and the short-covering that will have to follow as these bad boys work higher, we don't think it's a stretch to say these stocks have room to run."
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