The bad news could actually be fully discounted in the stocks themselves,
More Quotes from Ned Riley:
I like Merck, in particular, because here's a stock that's retreated dramatically from its high, but still has its earnings growth-rate intact, ... This company, I think, can grow about 13 to 15 percent. And its price-to-earnings ratio now is getting down to a level that I think is very reasonable relative to its long-term growth rate.Ned Riley
I think we'll probably get a brighter picture on retail sales for Christmas, which could (inspire) people a little bit and help the short term.
Ned Riley
Clearly people are anxious. Psychologically, the market is prepared to rally, but it needs clear evidence of a positive trend to do so, particularly on the first day of the (fourth) quarter.
Ned Riley
Ignore the negative economic news because the market's discounted most of it,
Ned Riley
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.
Ned Riley
That's imposing a ceiling of sorts on any rally. But the good news is that at the end of next week, tax-loss related selling may abate dramatically.
Ned Riley
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