Peter Chandler
Peter Chandler
border data economic good industrial problem products side south weight
We had the good economic data south of the border but the problem on our side is the weight of the industrial products sector,
bit comfort market money provided pulled sidelines sitting support waiting
I think that provided a little bit of support for the market here. There's a lot of money sitting on the sidelines waiting to go in...The money is there to be pulled into the market once there is a comfort level,
bottom buyers couple establish hit money sideline sitting tried waiting
Buyers are on strike! There's some significant money sitting on the sideline waiting to see when we'll establish a bottom. We tried a couple of times during the day to hit bottom and failed,
bit earlier giving sensitive side strength weak
But interest-rate sensitive sectors were soft, a bit on the weak side and giving back some of the strength they had earlier in the week.
election elections err less rather side
In a U.S. election year, they err on the side of doing less rather than more.
care everybody headlines supposed
Why does everybody care so much? I know it's going to be on the headlines but I don't know what it's supposed to mean.
good investor seeing sentiment sort turn
What is good is that we're seeing a real turn in investor sentiment to the negative, and you need that before you can get any sort of a bounce,
bound goes pulling stocks surprising thinking time
What goes up will come down. Thinking about how much they've come up, these things are bound to see some profit-taking from time to time. It's not surprising that some of these stocks are pulling back a little bit.
acute call earnings next period turning warning
We're turning into the most acute period of what I would call the 'early warning season' for the next quarterly earnings announcements.
basis fall free market morning overnight point suspicion
My suspicion is that on a short-term basis the market was oversold. It got spanked this morning with Nokia from overnight and the free fall (in Nokia stock) has stabilized to come back a point off its low,
dynamic lows meaningful rally saw test
But the probability is that we still have to test the lows that we saw in July, and that should set up a much better dynamic for a more meaningful rally going into the end of the year.
continue economy evidence expectation reasonable seeing slowing
So if we're seeing incremental evidence now of the economy slowing down, then we should have a reasonable expectation to continue to expect that to happen.
certainly damage gone number obviously popular serious support
Obviously some serious damage has been done to the market. We've gone through some important support levels, certainly with a number of the popular averages.
activity basis expect gives low market short term time yesterday
We made a new low on the Nasdaq yesterday and on a very, very short term basis it's oversold and I think that we can expect this kind of activity from time to time where the market gives us some relief, some bounce.