Quotes by Robert Stovall

“The Nasdaq pulled all that together.”

“When (Cohen) makes a statement it moves markets sometimes. People who have made statements in the past and have been incorrect dont have much impact.”

“It tells us the enthusiasm of investors will eventually turn this around.”

“Looking at every shock we have sustained since World War I, the trend has been to fall, then rally, and then move on to higher highs.”

“The dollar is falling, but I dont think it will fall too much more.”

“Its very hard to stimulate enthusiasm. We keep drifting downward.”

“The tech sector is where the money seems to want to flow. You can just look at last weeks action, when all the averages were up, the money flows into technology, primarily in telecommunications. And even though the valuations have been high all of these quarters and still are, I guess if you want to do well in the market youve got to have some of your assets in technology, definitely.”

“(The cut is) the beginning of several shots in the arm. I think the Fed acted early in the new year so to give themselves the opportunity in the end of the month to cut again, if things dont kick in as they like.”

“I think it will be relatively short-lived.”

“We are coming up to the political conventions, and the Republicans, Im sure, will bring up the semi or partial privatization of Social Security. And if that comes to pass, even in concept, long before it actually happens, it is going to focus on companies that would benefit from this: money managers, bank custodians, all sorts of the major financial companies.”