Overheard On The Street
Here’s what they’re saying today:
Alan Ackerman, Market Strategist,
Fahnstock & Co.: “Hopes are high that Wall Street is about to enjoy a
Santa Claus rally. However, earnings concerns and election concerns are still
burdens to the market as a whole, and investors are likely to be cautious in
buying shares under these conditions. Indeed it is unusual to see the U.S.
divided by dimples. The Florida recount continues, and investors are anxious to
see that finally end. On balance, it’s too early to be aggressive. There are
some bargains that appear to be surfacing, but so long as the battle for the
White House continues along with the slowing economy, the jury remains
out.”
John Roque, Vice President, Arnhold and
S. Bleichroeder: “We’re reluctant to become more positive on technology
because the semis have yet to give any clues that they have bottomed.
Furthermore, since semis were responsible for so much of what transpired
on the upside we feel it is necessary that they stop going down for the