I think what we have is a recognition by investors that there is some decent value at this price. But whether they have the intestinal fortitude to stay during further adverse times is still unanswered. Today, they seem to have rallied based on the expectation that there is cheapness in some of these stocks.
More Quotes from Ned Riley:
Competition's going to get a lot more intense, ... We know that one of the biggest products, Viagra, has been a blockbuster drug and there's more competition coming in next year. There's a new drug going to be introduced next year, and that supposedly has a much more effective impact on patients.Ned Riley
Today the market anticipated possible problems over the weekend. If nothing happens, we might have a better Monday than we've been having.
Ned Riley
We're just beginning to see justification for the market's rise, with the earnings that have already come in. The next test comes tomorrow, with the banks. People will be looking to see if loan demand in the economy has picked up.
Ned Riley
Companies have lowered expectations to almost zero, ... We could have stocks rally on the notion that the worst news is behind us.
Ned Riley
What really happened today is the retail sales report set the right tone, ... It appears that consumer spending is down.
Ned Riley
The big news is clearly the payroll report.
Ned Riley
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