Ned Riley
Ned Riley
kicked last market massive positive program seems trading
It seems like there was massive indifference on the part of buyers, ... There were positive macro developments, but the market didn't react, and then program trading kicked in during the last hour.
awakening corrected emotional eventually excesses fortunes investor irrational last level market notion perception quick ran reach reality reinforce street sudden thinking total wall year
It was a year of awakening for the new investor on Wall Street and it was a very quick and sudden reversal of fortunes for many. We ran the emotional gamut from total irrational thinking and perception to reality and capitulation. Last year's market did reinforce the notion that abuses and excesses are eventually corrected and eventually reach a level of overreaction -- and that's how the year ended.
becoming commentary direct fed feeding interest last less low market negative neutral people talking
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.
clearly developed last seen
This divergence that's developed over the last 12 months, has clearly been the widest I've ever seen in all the years I've been in the business.
decided demon last market punish session
A demon in the market decided to punish us on the last session of the year.
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.
call economic last seen six strength weeks
The economic strength that we've seen in the last six weeks has been what I call deflationary.
declaring drawn enthusiasm last longer markets people premature pressure realizing rushed selling shorts victory war week
The markets got a little premature declaring victory last week and the shorts rushed in to cover. Now enthusiasm has dissipated and the selling pressure is on. People are realizing that the war is going to be longer and more drawn out than anticipated.
closer corporate determine economic key news next perform period relevant stocks versus week
What's going to be key over the next week and determine how stocks perform is the interplay of pre-announcements versus brokerage upgrades. The corporate news will become more relevant than the economic news as we get closer to the period of quarterly reporting.
recovery road rocky
The rocky road to recovery has some potholes.
boxed companies forecasts lack past poor
These companies are boxed in by poor past forecasts and lack of visibility.
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.
company disclose might smartest
The smartest thing a company can do is take anything that they think might be questionable and disclose it now,
cash computer microsoft period
Things like Dell Computer or Microsoft or Cisco Systems, all have one characteristic: They have enough cash to go through a period like this and come out smelling like roses,