I believe the group is going to be able to grow at least 8 to 10 percent in the future and I think the SP earnings are going to slow down to maybe 7 or 8 percent, ... So this group could have actually a premium growth rate and yet a discount to the market that's, at least, 50 percent, if not lower.
More Quotes from Ned Riley:
There are worries about mechanical failures, lost ballots, all kinds of things. But I think the market is prepared for a delay in the results. I don't think it will be as much of a surprise as it was in 2000.Ned Riley
This is one of the most challenging periods for markets I've seen in a while. Short-term fundamentals are improving, but socio-political overtones are pulling people away from the positives. Even with closing a little higher, today's (Wednesday) activity was just an extension of what we've seen the whole week.
Ned Riley
Fundamentally, I think that many of the reports, from companies like Intel, Apple and IBM do portray a relatively sound tech environment. But people are anxious right now generally.
Ned Riley
Investors' vision is being blurred by what's going on overseas. War news is a convenient excuse to sell.
Ned Riley
the ten-year Treasury note yield is again moving higher and the price of oil is hitting up against record highs, all of which create obstacles for higher stock prices.
Ned Riley
I clearly think this is just another manifestation of a recovery that continues to be underestimated by the Wall Street community. Not only Cisco, but the whole tech sector has blown away estimates. I would be truly surprised if the market doesn't have strong futures and a positive start Thursday.
Ned Riley
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