We're still in a negative trend. Long-term interest rates are too high, earnings estimates are still too high. We've had seven out of eight down weeks, so we saw a little bounce in the beginning of this week. But the downward pressure hasn't eased.
Some of the consumer non-durable stocks like Pfizer, Colgate and even General Electric, which is one of the best managed companies in the business, we think look attractive here.
What we look for is consistent growers where the earnings haven't disappointed, ... We have a few of those in mind, some of the traditional growth stocks. General Electric is a good example.
Juries don't like to say someone is not guilty, if they committed the crime, ... particularly if that crime was violent.
The market is reacting to the day-to-day news, which reflects the continuing uncertainty that an economic recovery is on the way. We see that with the numbers this morning.
They have seven or eight blockbuster drugs, about a billion dollars each, growing at double-digit rates, no patent problems, no pricing problems, ... We think the company can grow north of 20 percent over the next two- to-three years.
The headlines are pretty bad right now. You can think of a lot of reasons for the market to sell off.
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