Companies have lowered expectations to almost zero, ... We could have stocks rally on the notion that the worst news is behind us.
More Quotes from Ned Riley:
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.Ned Riley
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.
Ned Riley
There was a combination of things that really depressed it. One was Hewlett-Packard's shortfall and we had a sympathetic sell-off using the political environment as a backdrop, ... Ironically, IBM remained the stalwart and it probably gave the notion of s
Ned Riley
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.
Ned Riley
Clearly it is not much of a surprise. There was a very strong feeling he would try to establish himself as an inflation hawk.
Ned Riley
I think the story is going to be the same going forward. We're going to see the tech companies reporting well. But the high interest rates we've seen so far have undermined some of the financial stocks and drug stocks.
Ned Riley
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