Bryan Piskorowski
Bryan Piskorowski
digestive finger hoping market
This is more a digestive phase. You have a market that's grasping and hoping to try and put a finger on the bottom.
bits bush close effect election fact george nuances
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.
bankruptcy books ceos days federal filing four gains hanging last meeting mostly reserve seeing signing stock stocks stories
The bankruptcy filing and other stock stories are weighing on us a little, and you've got the Federal Reserve meeting and the CEOs signing off on the books hanging over us, but mostly you're seeing stocks a little skittishness after four days of gains last week.
along bigger clearly disastrous lack market picture plight profit question recession stems ultimately week
It's been a disastrous week and we're just limping along here -- ultimately we're in a profit recession and the question is how long will that linger, which is frustrating the plight of equities. In the bigger picture you have a market that is clearly unhappy, and that stems from the lack of visibility.
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?
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.
building cause few means news next profit support taking
All of this building up with very little fundamentally to support it makes us vulnerable. It probably means there's going to be some news in the next few sessions that will cause some profit taking to come into play.
continues market moves oil recover tends volume
The market continues to be correlated with oil prices, and the volume is thin, which tends to exacerbate any moves the market makes. That having been said, we have managed to recover from the morning's lows, which is a positive.
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.
feels month trading
Clearly, trading here in the month of May feels more like August.
ahead couple days healthy market nature profit reading taking
A couple of days of profit taking is healthy and I wouldn't be reading too much into it. The discounting nature of the market being what it is, we just got a little ahead of ourselves.
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.
congress corporate drama good lack left means people quiet reporting
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.
beating below clearly consensus earnings front mixed putting recent reported reports results suffering thus
After suffering from an oversold condition, recent earnings reports have clearly benefited the bulls. Putting this into perspective, one-third of the S&P 500 has reported thus far, with 72% beating the consensus estimates, while only 17% have come in below estimates. After some mixed results on the earnings front in tech, we are on the mend.