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.
More Quotes from Ned Riley:
It is another piece of good news in that it leaves the Fed in an unfettered position to exercise more discretion in monetary easing. Because the economy has displayed such weakness and inflation has been non-existent with the exception of energy-related pNed Riley
I think some buyers have actually been attracted to the fact that the market has been down so big (this week) even though there may be extensive damage as a result of Rita. Clearly people are concluding things will continue to go on and that the economy is resilient enough to take another blow,
Ned Riley
I think it's wonderful -- the market doesn't want to go down. There are a lot of frustrated buyers out there that are waiting for a much larger correction, but they are being forced to chip away. ... With this market today, you just couldn't get the sellers out in force.
Ned Riley
Unfortunately, the market has taken a 'shoot now, analyze later' attitude. These companies are guilty until proven innocent, and they need to come up with confessions or disclosures that prove there's nothing questionable.
Ned Riley
Whether the catalyst was the cessation of tax selling or just a rally from a truly depressed area, the Nasdaq is attracting some bargain hunting. I would suggest stocks were over discounting shorter-term problems that have already been announced.
Ned Riley
I think people are anxiously awaiting the earnings reports, and what these companies have to say about demand for their business in the second half of the year.
Ned Riley
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Based on Keywords: overtones, socio-politicalI don't really think about what the subject of my next album will be. I just know that I'm going to make another album.
Lou Reed
I still say one of the greatest moments in my whole NBA career was getting drafted.
Kevin Johnson
Hating people is like burning down your own house to get rid of a rat.
Harry Emerson Fosdick