Ned Riley
Ned Riley
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Fears about the next scandal seem to have eased. It's not very exciting, but it's a period where a lack of news is almost good.
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This administration is seen as being very pro-investment, whereas Kerry is seen as wanting to rewrite the rules -- on capital gains, tax cuts on the wealthy, certain business regulations. I think, for market psychology, that would be damaging.
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It's been a great ... run. The market needs a rest.
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The smartest thing a company can do is take anything that they think might be questionable and disclose it now,
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It's been the good, the bad and the ugly. I think this period is still going to be ugly for earnings but the market has discounted it.
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You're going to get a lot more volatility on a day like today, but some of this activity, in combination with the Microsoft announcement, has clearly accelerated the volume on the day.
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It's been the good, the bad and the ugly, ... I think this period is still going to be ugly for earnings but the market has discounted it.
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The worst point of the tech cycle is probably upon us now, but the actual results and the commentary on earnings are no surprise. There's a selling exhaustion in regards to tech stocks. People are trying to focus on the road ahead. Looking forward; there is a lot of upside potential.
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This is one of the most challenging periods for markets I've seen in a while, ... Short-term fundamentals are improving, but socio-political overtones are pulling people away from the positives. Even with closing a little higher, today's (Wednesday) activity was just an extension of what we've seen the whole week.
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The bad news could actually be fully discounted in the stocks themselves,
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This is clearly a holiday-impacted trading day, as volume indicates. I do think the market is acting extremely well. The Christmas rally that people eagerly awaited is here, but it's taking on something of a more subtle tone.
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People are joining the camp of easier money for a longer period of time. The Fed should be willing to provide any and all support.
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These companies are boxed in by poor past forecasts and lack of visibility.
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The market is also still living with the legacy of the Fed's decision yesterday to raise rates, ... There are a number of people who feel the Fed should have paused, and should have considered the ramifications of Katrina and Rita.