Ned Riley
Ned Riley
cuts difficult kerry prove tax
I think it would be difficult for Kerry to prove that the tax cuts were not effective.
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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.
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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.
difficult felt further package policies stimulus tax together
There was disagreement about tax policies and the need for further stimulus was at issue. O'Neill felt there was no more need for stimulus and it would have been difficult to get a tax package together without unanimity.
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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.
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.
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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,
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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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Enron is providing the counterforce right now. It's undermining a number of industries such as utilities, banks, insurance and energy companies.
almost fears lack news next period scandal seem
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.