Overheard On The Street
Here’s what they’re saying at mid-day:
Rob Cohen, Head of Listed Stock Trading,
Credit Suisse First Boston: “I think that we saw follow-through from
yesterday’s bounce and some confidence coming back into the market. Maybe we had a blow-off on the downside yesterday. Some of the earnings that came
out last night were much more constructive certainly in technology, and we’re
starting to see some conviction in the short term from our institutional
customers that we’ve reached a level where they’re a lot more comfortable being
buyers. I don’t think the rally we’re seeing here is going to have a lot of
breadth to it and probably will not last for more than a day or two, but it’s
certainly more constructive than what we saw earlier in the week.”
Barry Berman, Managing Director of Equity
Trading, Robert W. Baird & Co.: “I think that stocks got so oversold
and with all the pre-announcements out of the way and no new blow-ups in the
Middle East that the market is just rallying. I’m hopeful that we saw the lows
last week. If we don’t get any bad news about inflation or renewed fighting in
the Middle East or anything like that, then I’m hopeful that we’ve seen the
lows.”
Andy Madoff,
Director of Nasdaq Trading, Bernard Madoff Securities: “We are seeing very,
very broad strength across the board, particularly in the Nasdaq side. It’s a
sea of green which is a refreshing change. We’re seeing some weakness in some of
the Dow stocks, but overall, the market seems stronger than the individual
components reflect. There’s just broad strength and a sense of relief.”