This would be a short-term stimulus to personal computer manufacturers, semiconductors and the whole gamut of technology companies.
More Quotes from 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 big news is clearly the payroll report.
Ned Riley
You're going to get a lot more volatility on a day like today, but some of this activity, in combination with the Microsoft announcement, has clearly accelerated the volume on the day.
Ned Riley
These companies are actually growing, ... The whole group is growing somewhere between 10 and 13 percent relative earnings growth and the price-earnings ratios are about 13 to 14 times. It's one of the few groups out there that are actually selling at their growth rate in terms of price-earnings ratio. And, right now, it's strange -- people don't like the group. It isn't a hot group.
Ned Riley
We're at the end of the quarter and people are consolidating a little bit. April could look better if we can see some tech names assert leadership.
Ned Riley
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