As long as Amazon is showing continued strength on the top and bottom line and the overall market is picking up momentum, this stock will participate in the rally.
Tech earnings are improving, and the reality is that stock prices always move ahead of fundamentals. That's what they do. They are predictive instruments.
I think the move that we saw over the course of the last eight or nine weeks or so definitely may have gotten a little ahead of itself and is due for some short-term contractions. Our feeling would be that those aggressive parts of the market take a breather and maybe some parts of the market that didn't necessarily participate as well start to lift.
The greatest mistake that people have made over the past three-to-six months regarding tech stocks is failing to listen to what the market is telling them.
[Todd Campbell, president of Watchdog Research, an independent research firm, is one.] Never underestimate the mania of the market, ... It's absolutely possible.
A lot of tech stocks that were 'Steady Eddies' were not subject to hype. They were boring stocks. But those stocks had strong top- and bottom-line growth.
Without a doubt this is going to be a have and have-not market. You are going to have to be selective in what you buy.
The market feels a little tired. It's been up late at night and it needs to take a little rest.
Gold has had big moves but overall the outlook still looks favorable. It's an under-owned investment class and there is a lot of political instability that would fuel gold.
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