DEBORAH MARCHINI, CNN ANCHOR: My featured guest for the hour is Patricia Chadwick, president of Ravengate Partners. And she is here to give us a preview of what's in store for the markets today after we saw the Nasdaq slump below 2000 yesterday. Is that a significant development? And can you see the market recovering given the nervousness about the earnings report that come later?</s>PATRICIA CHADWICK, RAVENGATE PARTNERS: Well, I think you're right. The market is focusing right now on the very short term, which is: What are the earnings -- that have just now become history -- what are they going to be? I still think we're in what I would call a two-steps-forward, one-step-back kind of environment, which is bottoming. And I guess sometimes it feels as though it's two steps forward and two steps back, which the last few days certainly have indicated. But I do think we are in a bottoming mode. We are certainly above the lows that were reached in early April. I think, as we move forward, the comparisons start to get easier, particularly in the fourth quarter, and then certainly into next year. We are now in July. The stock market does look forward. So it is starting to look into 2002. It doesn't mean it's going to be just clear sailing. But I think that a lot of things are being done which do indicate that we're getting rid of inventory and that the economy will start to improve in the beginning of next year.</s>MARCHINI: All right, Patricia is going to sit tight, because, in a few minutes, we're going to be talking about tech and also international factors affecting sales in U.S. corporations. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Patricia Chadwick Delivers Market Preview