It'll take another round of earnings to confirm some of the optimism that's been going around. And I don't know that I would say all the news was necessarily good. A lot of companies beat much-lowered expectations and didn't necessarily have rosy outlooks.

Adam Adelman

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Optimism in the numbers will be a roadblock for further gains. The upside in tech is limited.

— Adam Adelman

We're already starting to see valuations get stretched again. It's not unlikely that we can get back close to 1,700 on the Nasdaq, but I don't think that's necessarily justifiable. That's just a function of trading psychology in the short run.

— Adam Adelman

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A quicker-than-expected recovery in capital expenditure spending will probably be the biggest catalyst, if one occurs at all.

— Adam Adelman

Valuations remain a little stretched, and we could see some further weakness into the early part of the year.

— Adam Adelman

In spite of the Gateway announcement, there seems to be some firming in demand for PCs and flash memory. Pricing is starting to improve. And for IT services, capacity utilization is finally starting to improve.

— Adam Adelman