Bryan Piskorowski
Bryan Piskorowski
cap close closer earnings large stick
And that's why we're going to stick close to the earnings tree, closer to the large cap names.
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I think the fact that the election is so close is having an effect on the Dow. It's (the race) so close here that little bits of nuances like a 24-year-old story on George W. Bush is having an effect on stocks.
bulls earnings party stronger wine
Earnings have been good, but we're priced for perfection. The bulls want a stronger wine to keep the party going.
brought continued drag lead lows market rest stocks tech
Tech stocks brought us up from our Oct. 8 lows and have continued to lead the market higher. When they go down it's going to drag the rest of the market with it.
beyond broke coming earnings economic land selling sitting support technical waiting
You got technical selling coming in as we broke a support level. Beyond that, we're just sitting here in no-man's land waiting for earnings announcements and economic data.
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I still think it's a relatively fertile investing environment. There are better roads ahead and the market is generally going to try to consolidate and deal with a slowing economy.
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But it's going to be a quiet week. A lot of people are on vacation, there's little in corporate reporting or econ data, Congress is still in recess. We lack drama right now, which means we're going to be left to our own devices, which could be good or bad.
anxiety cost earnings employment few inability mantra news piece plate players quarter question second selling step together willing winning
Selling on the news has been the mantra for second-quarter earnings season. What's more has been the bull's inability to piece together any kind of winning streak. With sustainability in question and anxiety abounding about tomorrow's (Thursday's) Employment Cost Index and Friday's second quarter GDP, few players are willing to step up to the plate today.
gains last profit seeing trying week
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. Last week we had a one-hit wonder. This week we're trying to see if we can do a little better.
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Ultimately what we're trying to come to grips with is the fact that we understand that second-quarter earnings are not going to be good but the timing of a recovery is hanging over our head. We'll get some forecasting, looking out, but it's what those forecasts say that puts proof in the pudding.
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We're wrapping up a year where we saw the Christmas rally happen in the autumn time frame. There's not much gunpowder left in December, so it's a month of digestion.
bottom consensus numbers seem trying undermine
We keep trying to see a consensus for when things will bottom out. But then we keep getting these numbers that would seem to undermine that.
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We don't need a cause and effect here. We have bear psychology gripping the market so there's general apathy toward taking positions -- rallies are viewed as short-lived and trader-oriented.
four giving good healthy percent ran
We ran 8 percent in four sessions, and now we're giving some of it back. It's just good old-fashioned, healthy profit-taking more than anything else.