Ned Riley
Ned Riley
august bears sharp shows vacation
Today's sharp selloff shows that there were more bears on vacation in August than we thought, and they've come back nasty.
comfort far forward hopefully incident last people steps took week weekend
We took two steps forward last week and only 1 step back so far this week. So there is some comfort in that. Hopefully we'll get through this weekend without incident and that should give people some reassurance.
question
The question is what are the real earnings.
computer personal stimulus technology
This would be a short-term stimulus to personal computer manufacturers, semiconductors and the whole gamut of technology companies.
tech win
You had to be in tech to win in this period.
amount floor full investors point stock truly until unusual
Until we get to that point where investors truly feel that there is no floor to stock prices, that isn't the full capitulation. There's still an unusual amount of optimism.
category damage elevated katrina people
Unfortunately, people feel very passionately that with Rita, we may see the same kind of damage and destruction that Katrina brought, particularly with it now elevated to a category 5.
analyze companies guilty market proven taken until
Unfortunately, the market has taken a 'shoot now, analyze later' attitude. These companies are guilty until proven innocent, and they need to come up with confessions or disclosures that prove there's nothing questionable.
bear breed investors types
Unfortunately, ... we've got two types of investors right now in this market. We have got this new investor, the new breed that's brash, bold, aggressive, and very short-term oriented, who has not been through a real bear market.
complete correction fishing lows mode people tech today
Today we're in the bottom- fishing mode and there are a lot of people who think the tech correction is complete and we've established our lows for this cycle.
concern couple declare economy gearing hot months optimistic phase together
The only concern I do have is I'd like to see a couple more months (of data) put together here before we declare this torrid, hot economy as into another phase of gearing down. I'm not as optimistic yet that we have slowed everything.
areas certain giving great seem
There are certain areas that seem to be giving a little better story, not a great story, but stabilization.
delay kinds lost market mechanical prepared surprise worries
There are worries about mechanical failures, lost ballots, all kinds of things. But I think the market is prepared for a delay in the results. I don't think it will be as much of a surprise as it was in 2000.
attracting bargain catalyst cessation depressed problems rally selling stocks suggest tax truly whether
Whether the catalyst was the cessation of tax selling or just a rally from a truly depressed area, the Nasdaq is attracting some bargain hunting. I would suggest stocks were over discounting shorter-term problems that have already been announced.