Bryan Piskorowski
Bryan Piskorowski
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.
autumn christmas gunpowder happen left month rally saw time wrapping year
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.
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.
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.
buying cash licking mild sidelines trying wounds
The Nasdaq is just licking its wounds and trying to rebuild. There's a lot of cash on the sidelines and there's some mild buying here.
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.
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.
lack late low move seen short volume
We've seen late day short rallies on low volume that are exaggerated by lack of supply. The move has been overrated,
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.
action costs good labor numbers pace unit
For the Fed, the productivity numbers and the very well-restrained unit labor costs are good news, confirming that they didn't have to take action to pace the economy.
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.