Ned Riley
Ned Riley
avoiding gossip looking
We're back to looking at the fundamentals and, at least temporarily, avoiding gossip and rumors.
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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.
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We're going to have more people talking about the Fed becoming less aggressive, which will be neutral or negative for the market because the market has been feeding off low interest rates. I don't think the Fed commentary is going to be as predictable and direct as the last meeting.
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.
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There is a willingness on the part of investors to buy premium names in anticipation of a recovery, but I really think there isn't a lot of conviction on the part of buyers or sellers.
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There is a serious shift going from the growth companies in the old economy to growth companies in the new economy that have been quite tarnished over the past nine months. The tech recession was the catalyst and we are genuinely seeing a slowdown in old economy sectors.
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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.
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We've taken a couple of body blows and are still standing. And I think that's pretty encouraging.
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It's something of an uplifting experience for us in the investing community to see that companies really are taking their accounting seriously. An exercise that CEOs seemed to treat as rote and automatic is viewed totally differently.
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It's equally distributed in Nasdaq. I haven't seen any particular catalysts. The front-line companies like Cisco, Intel, Microsoft, Oracle are still suffering from tax selling.
conviction forth process
There's no conviction over earnings, ... You're going to get this vacillation back and forth as we're in this bottoming process and it's going to take some time.
conviction forth process
There's no conviction over earnings. You're going to get this vacillation back and forth as we're in this bottoming process and it's going to take some time.
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There has been a dearth of negative news, which to the market has to be a sign of good news.