Ned Riley
Ned Riley
beginning believe move strong
I believe this is the beginning of a strong move higher.
anxiety clearly continues conviction covering downside enthusiasm level reached restrained selective selling short stocks worst
It's a conviction on the part of some that a lot of the stocks have reached such a downside level that they are discounting the worst of all scenarios. The enthusiasm is clearly restrained because the selling and anxiety continues so we've got a little short covering and selective buying.
anxiety capital commitment function people saying spending
It's a function of anxiety on the part of investors. People are saying that capital spending is weakening and the commitment to longer-term capital has waned a bit.
earnings evident focus magnitude rest sort
It should be evident by now that the rest of the earnings are going to come in at the same sort of magnitude over estimates. The focus is going to shift.
earnings host pain prior punishment reports slow work
The fundamental environment, because we still have a whole host of earnings reports to come out, could work to slow the rally. But much of the pain and punishment has already been absorbed prior to the end of the quarter.
disappoint feeling paranoia phase stocks
Right now I think you're in the indiscriminate phase of selling. There's more of (a feeling of) anticipation and paranoia about the possibility that some of the Dow stocks could disappoint even further.
activity closing extension markets people periods pulling seen
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.
attach earnings eventually good peaceful people relative stocks strategy using
People have been using a rotational strategy -- but eventually you'll have a peaceful coexistence between the two because the 'old economy' stocks will have very good relative earnings that people can attach to,
companies earnings few group groups growing growth hot people percent rate relative selling somewhere strange terms
These companies are actually growing, ... The whole group is growing somewhere between 10 and 13 percent relative earnings growth and the price-earnings ratios are about 13 to 14 times. It's one of the few groups out there that are actually selling at their growth rate in terms of price-earnings ratio. And, right now, it's strange -- people don't like the group. It isn't a hot group.
credit market surprises
The market may be more conditioned to take surprises than we give it credit for.
data days hope pray taken wait
It will be one of those days where we wait and see and hope and pray that tomorrow's CPI data will not be taken with too much negativity,
dead people period quarter
This is sort-of the real dead period for the quarter and it's also the summer, and a lot of people are on vacation,
advocate attention cannot clearly daily discern downs money next pay people stress strong terms trends ups week weeks
A lot of people should not pay attention to the ups and downs daily because clearly they cannot discern the next week or two weeks in terms of trends in the markets. Where do you want to put your money long term, and I stress long term. We always advocate a very strong diversification.
breath calmed claims declined holding labor people report saw shares sold tomorrow yesterday
The unemployment claims declined a little, so that calmed some nerves. We saw some short-covering (buying of shares sold short) yesterday (Wednesday) and we may see more of that today, but I think people are holding their breath a little for the labor report tomorrow (Friday).