It seems that the market wants to continue to rally for a while, so perhaps it's going to test those old highs, but I do think that the market is overvalued and caution is warranted here.

240

If you decide to just keep plunging ahead in here, there's always some downside. And I don't know that we're really expecting any downside. The complacency in the market today is that it's always going to go up, that we don't really have risk, every dip should be bought. I don't think that's a healthy situation because there are ups and downs.

229

Now that you have some third-quarter earnings coming out that might be pretty good with great visibility, you might see a little bit of move back toward the large caps. With Motorola being an indicator, you're going to get predictable, solid earnings out of the large caps and that might attract some money in here.

226

I think there's going to be heightened nervousness about whether interest rates are going to go up towards the end of the quarter because the economy does look strong. The extreme volatility that we have seen recently is going to continue.

174

I think, on balance, earnings are up between 13 and 14 percent on revenue growth of about 8 percent. That's nice, very healthy, but not something to start a brand new leg of the bull market on.

157

This market is acting just like late stage bull markets have always acted in the past. What we have here are stocks that represent growth, not value. We have fewer stocks advancing and fewer groups, although it's broadening a little bit.

139

Now there would be a lot of people that would argue they are worth it. I would say, okay, maybe they are. But, gosh, if there's a stumble... if you're trading at more than twice your growth rate... the down side becomes horrific.

128

What the success of America Online has to be is to generate additional advertising revenue. They can only up the subscriber fee so often.

61

I think technology stocks are in for a correction, but it's a perfectly normal correction. This is a seasonably weak period of time.

59