Ned Riley
Ned Riley
care coin flip gains guarded health pockets rally strength
One of the pockets of strength has been in the health care area. You could flip a coin on the Nasdaq -- it's been a very tepid and guarded rally in the Nasdaq . But I think the Dow gains will prevail.
great rally
We've had a great rally and I think that's going to continue.
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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.
bond bonds favorable less market negative rally report stocks
I think the bond market has already discounted a favorable report but not a negative report, ... If we see something less than 150,000, bonds will rally and stocks may, too.
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The rally in the first two weeks of January was based on expectations that we would have a decent reporting period. Largely, that's been true, with many earnings reports meeting or topping estimates. But unfortunately, the commentary about the future has been a huge downer. That's one of the things holding investors back now.
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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.
buying instead rally selling toward
The inclination is toward selling the rally instead of buying on the dips.
behaving given market rally since
The market is just behaving very nicely. We have given up very little of the rally since March.
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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.
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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.
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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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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,