Bryan Piskorowski
Bryan Piskorowski
ahead couple days healthy market nature profit reading taking
A couple of days of profit taking is healthy and I wouldn't be reading too much into it. The discounting nature of the market being what it is, we just got a little ahead of ourselves.
economy few figure months
It's going to take us a few months to figure out how much the economy is slowing.
couple next tough
It's going to be tough in the next couple of weeks.
basically bounce economic eyes follow lacking market seeing technical today
It's basically a technical dead-cat bounce we're seeing here today. The thing in the market that has been lacking is sustainability and follow through. So we'll keep our eyes on some upcoming economic data. And that's basically going to take today and this week's trade.
along bigger clearly disastrous lack market picture plight profit question recession stems ultimately week
It's been a disastrous week and we're just limping along here -- ultimately we're in a profit recession and the question is how long will that linger, which is frustrating the plight of equities. In the bigger picture you have a market that is clearly unhappy, and that stems from the lack of visibility.
earnings economic major morning positive tape
This morning it was really a story of positive earnings on the tape and no major hiccups on the economic front. All in all, it's going to play out as a respectable but not blow-out earnings season.
decent earnings economic health major positive reports tape tech three
It was really a story of positive earnings on the tape and no major hiccups on the economic front. You had decent reports from three sectors in general: industrial, tech and health care.
downside last lead market question three unable
That kind of capitulatory downside will lead to bounces, but the question is sustainability and follow-through. That's something the market has been unable to demonstrate any credibility in doing so over the last three months.
america begin concerns consumer corporate global hold money move pick pushed question remained sidelines torch until
Also, global concerns have pushed money to the sidelines and it has remained there. As you move into 2003, the question becomes: Can the consumer hold on until we have corporate America pick up the torch and begin spending.
continue economy fed good hoping news signs slowing syndrome
We're hoping for the 'bad news is good news' syndrome -- that we will continue to see signs of a slowing economy and that will make the Fed more accommodating.
bounce gains last profit seeing surprised
We're seeing some weakness, which is not surprising. We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking. However, I wouldn't be surprised if we see a little bounce after we get through the morning.
basis definitely economy fed june question
Clearly, with GDP cruising at 5.6 percent, our economy is definitely steaming along, and that's got the Fed worried. And the question is, going forward: What do we see at the June meeting? Do we see another 50 basis points?
basically believe bottom clearly coming either fed feels hanging interest last line market meeting month obviously percent pinned position range rate side taking trading
Clearly trading here in the month of May feels more like August. But bottom line here, yes, we are, we're pinned in by interest rate uncertainty; we're pinned in by the Fed meeting coming up at the end of June. Obviously with those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin. In the last two weeks, we've basically been trading -- I can't believe this -- in the 10 percent range on the Nasdaq. But that's what it's been.
feels month trading
Clearly, trading here in the month of May feels more like August.