Tom Schrader
Tom Schrader
continue definitely economy fed few indecisive next street
I think this choppiness is definitely going to continue over the next few months. The Street is very indecisive about what the economy is going to do, what the Fed is going to do.
action ahead amount approach due earnings economic last later news nice people run sideways taking week
I think we're going to see some sideways action this week. We had a nice run last week and there's a significant amount of economic and earnings news due out later in the week. I think people are taking a 'wait and see' approach ahead of that.
indicator main people report waiting
I think the unemployment report is the main indicator people are waiting for this week.
beyond bounce expect few given hot next severity
Given the severity of the downturn, I would think we'll get a little more of a bounce over the next few weeks, but I wouldn't expect much beyond that. I think it's going to be a long, hot summer.
breadth catalyst move oil primarily volume
We're primarily up because we're oversold and oil is down. The breadth is decent, but the volume is low. There's just not much of a catalyst to move us.
higher trying work
We're off our highs, but we're trying to work it back higher again.
eye hard inflation looking
They'll be looking at the PPI with a real hard eye for what inflation is going to be,
action coming consumer energy investors less money morning news oil prices worried
They like the CPI news this morning and the action in oil markets, with oil down 2 percent. Investors are less worried about inflation, and with energy prices coming in a little bit, that will give more money for the consumer to spend.
article hit intel online pc sales slower
Intel and a Barron's online article about slower PC sales hit the techs in the morning, but I don't think they said anything that hasn't been said or hinted at recently.
earnings expected market receptive stock
Generally, earnings are better than expected and I think the stock market is receptive to that.
bad hammered news
The Dow's getting hammered by all the bad news this morning,
confidence consumer definitely higher impact morning number oil prices shocked starting
The confidence number this morning was abysmal, and that's what shocked the market. The higher oil prices are definitely starting to have an impact on consumer spending.
concern
The concern is that we're very overbought right now,
continue earnings last less nice october rally rallying reports since supporting time week
This is more or less a continuation of the October effect. Since about mid-October, we've been rallying and that's traditionally the time you're going to see that. We've had some nice earnings reports in the last week supporting a rally and we're probably going to continue to see that.