Tom Schrader
Tom Schrader
increased volatility worse
You're going to see increased volatility through the end of the week, and it's probably going to be even worse Friday,
damage drifting east further houston less storm
The storm is drifting east, and the further east of Houston it gets, the less damage it is going to do to refineries in the Houston area.
broken continue drag finds market sell tends until
The semiconductor index right now is a broken index. Until it finds some support, it will continue to sell off and that tends to drag down the market as a whole.
ahead buyers lack meeting recent seeing selling today tomorrow
The selling today is long overdue after the recent rally. You're seeing a lack of buyers ahead of the Fed. You'll probably see more selling tomorrow as the meeting begins.
companies half less looking mainstream money people putting quality stocks
More than half the Dow stocks are up. People are putting money into mainstream companies looking for quality and less volatility.
Caterpillar has the Dow down, but everything else is up a little bit, particularly the techs,
basically bigger bounce due market seeing
Basically we're seeing a bounce after yesterday's debacle. I think the market is getting really oversold and we're probably due to see a bigger bounce back pretty soon.
discount flat four holiday likelihood next volume week weeks
I wouldn't discount the likelihood that next week will be flat to lower. It's a holiday week, volume will be light, and after four up weeks we'll need a pause.
bad earnings general mix people reason run sort tremendous using
Lexmark was bad, 3M was good, and in general you've had that today, with the mix of earnings sort of canceling each other out, ... I think people are using this as a reason to take profits, particularly after the tremendous run we've had, and I don't think that's a bad thing.
friday low skeleton street tends volume wall
Low volume tends to exacerbate any moves, and I think on Friday everyone on Wall Street is going to have skeleton crews on staff.
gotten people sentiment start wanting
Sentiment had gotten so bad. People are wanting to start get back in.
confidence consumer enhance hopes labor market moving number strong ties
A strong payrolls number would be important for the market and could get the indexes moving as it would enhance hopes that the labor market is improving, which ties into consumer confidence and consumer spending.
activity earnings economic extension japan last led money morning natural news people seems selling staggering table taking terrorist turkey until week weekend
It seems to be some natural selling, an extension of last week ... Terrorist activity over the weekend in Turkey led to selling in Japan and selling here; the earnings this morning were mixed, and you have no staggering economic news until Thursday, so people are taking some money off the table right now.
actual biggest both days earnings economic focusing generally gm guidance ibm negative numbers people putting seems
It seems that GM put a damper on things with some negative comments, and the economic numbers were a little weaker. They are both putting an overhang on the IBM news, which was generally positive. This is one of the biggest earnings days we have -- and people are going to be focusing more on the guidance than they are the actual earnings.