The fundamental environment, because we still have a whole host of earnings reports to come out, could work to slow the rally. But much of the pain and punishment has already been absorbed prior to the end of the quarter.
More Quotes from Ned Riley:
Right now I think you're in the indiscriminate phase of selling. There's more of (a feeling of) anticipation and paranoia about the possibility that some of the Dow stocks could disappoint even further.Ned Riley
Theoretically, the incumbent wants the economic recovery to coincide with the election, but really it's a coincidence that those years tend to be positive. I think it's more that there's a good feeling overall during that year -- everyone is promised the world and no one says anything bad to upset the markets.
Ned Riley
This is the greatest time to buy these stocks when nobody wants them.
Ned Riley
You buy the market when the fundamentals are the weakest. I think the fundamentals are turning and I don't think people realize it yet.
Ned Riley
I do think he's trying to pull a leadership role here a little more than being the economist, and that leadership is trying to get people upbeat.
Ned Riley
There has been a dearth of negative news, which to the market has to be a sign of good news.
Ned Riley
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