Ned Riley Rally Quotations

The market is just behaving very nicely. We have given up very little of the rally since March.

I think the bond market has already discounted a favorable report but not a negative report, ... If we see something less than 150,000, bonds will rally and stocks may, too.

This is clearly a holiday-impacted trading day, as volume indicates. I do think the market is acting extremely well. The Christmas rally that people eagerly awaited is here, but it's taking on something of a more subtle tone.

One of the pockets of strength has been in the health care area. You could flip a coin on the Nasdaq -- it's been a very tepid and guarded rally in the Nasdaq . But I think the Dow gains will prevail.

We've had a great rally and I think that's going to continue.

The inclination is toward selling the rally instead of buying on the dips.

The rally in the first two weeks of January was based on expectations that we would have a decent reporting period. Largely, that's been true, with many earnings reports meeting or topping estimates. But unfortunately, the commentary about the future has been a huge downer. That's one of the things holding investors back now.

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.