Michael Carty Investors Quotations

Stagflation is in the back of the minds of many investors right now. When they see energy getting quirky, they want to duck. And when they see the market rally, they want to take some chips off the table.

I was very impressed with the last couple days' performance, in particular with the Dow, which rallied nicely. But we're in this pre-announcement period and although there haven't been too many negative comments, there's some hesitation on the part of investors because of that.

I think we're seeing investors being convinced that we hit the bottom and from here we'll go through some softening of the economy. But if we're going to get back into the market, we want to do it now because the market is a leading indicator.

We're in this confessional period where there's nothing but bad news coming into the market place now and investors have become really cynical.

These concerns are going to keep us from going too high. The general trend is up, but it won't make investors euphoric, at least until after the election.

Although people are somewhat concerned about where the economy is going, some rational exuberance is finally entering the market. Investors have been so pessimistic for so long that it seemed to be endemic, but people are beginning to believe there's an end in sight to all of this (bad news).

Technology has been under a bit of a cloud and there's still concerns about the telecom industry, ... I think investors are still very wary of it. They want to see more robust capital expenditure.

Investors still have a lot of rebuilding of confidence before they jump back in with both feet. They're (investors) not in a rush to get in -- they've already tried all the buying on dips they intended to do and they want to make sure this is the last dip.

Investors are taking a 'wait and see' attitude. They want to see if the market has really bottomed after hitting the lows of the year earlier this week, and if the next leg of this is a rally. I tend to think it is.

Investors have a long memory -- in those cases where we've had major oil shocks, overall demand has dried up, ... People are looking towards and fearing a slow-growth, inflationary environment -- stagflation.

This has been the strongest quarter in three or four years, and so you'd expect investors to want to take some profits as the quarter is winding down.

The market is moving forward and then back again. We're seeing the glass half-full one day and half-empty the next. This shows that investors are still very tentative and that's also reflected in the light trading volume. The bear is still very young and its having a difficult time standing up.