You buy the market when the fundamentals are the weakest. I think the fundamentals are turning and I don't think people realize it yet.

The recovery is still tepid. The market is reflecting that slowness.

I think the Fed has at least one further tightening in June and another one in August. Until the American consumer changes his or her outlook on further income growth, the economy is going to remain vibrant and inflation will continue to rise.

I clearly think this is just another manifestation of a recovery that continues to be underestimated by the Wall Street community. Not only Cisco, but the whole tech sector has blown away estimates. I would be truly surprised if the market doesn't have strong futures and a positive start Thursday.

Fundamentals make the market.

Theoretically, the incumbent wants the economic recovery to coincide with the election, but really it's a coincidence that those years tend to be positive. I think it's more that there's a good feeling overall during that year -- everyone is promised the world and no one says anything bad to upset the markets.