I think by the first quarter of next year you're going to see a much better profits picture and that's what the market's telling us here.
More Quotes from Ned Riley:
Everybody knows the second quarter is going to be miserable but there's a sliver of optimism on the part of investors that would hope that the commentary would be geared toward a better scenario.Ned Riley
The retail sales number today reinforces the notion that the consumer hasn't fallen apart. Today's market is encouraging from the perspective that there is less of an Enron hangover.
Ned Riley
There's an old saying that out of chaos comes opportunity.
Ned Riley
Any (profit) short-fall in that growth rate at 110 times earnings means there's some risk in these stocks.
Ned Riley
Clearly, the focus going forward is going to stay on the macro news to either enforce or dispel the notion that inflation is rising,
Ned Riley
Ignore the negative economic news because the market's discounted most of it,
Ned Riley
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