Bryan Piskorowski
Bryan Piskorowski
bring data forth forthright question side understand
We understand the manufacturing side is in a recession. The question is, Will the data bring forth a more forthright (aggressive) Fed?
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.
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.
america begin concerns consumer corporate global hold money move pick pushed question remained sidelines torch until
Also, global concerns have pushed money to the sidelines and it has remained there. As you move into 2003, the question becomes: Can the consumer hold on until we have corporate America pick up the torch and begin spending.
fairly healthy profit run taking week
I think a week of profit taking is fairly healthy after the kind of run we've seen.
ahead deal fertile generally investing market relatively roads slowing
I still think it's a relatively fertile investing environment. There are better roads ahead and the market is generally going to try to consolidate and deal with a slowing economy.
bottom consensus numbers seem trying undermine
We keep trying to see a consensus for when things will bottom out. But then we keep getting these numbers that would seem to undermine that.
apathy bear cause effect general market positions psychology taking toward viewed
We don't need a cause and effect here. We have bear psychology gripping the market so there's general apathy toward taking positions -- rallies are viewed as short-lived and trader-oriented.
hard hero market nobody past people step trade willing
You have nobody willing to be a hero here -- it's hard for people to step up to the plate. Trade over the past two sessions has been very speculative. If you removed Iraq, you'd probably have a market that was doing OK.
bit corporate earnings news vacuum wait
We are in a bit of a news vacuum as we wait for the deluge of corporate earnings reports.
below coming conducive data economy grips help landing looking monetary percent plight policy question reality soft stocks support
We're coming to grips with the reality that we had an economy that was cruising at 3.6 percent and is looking at 2.7 (percent) or below in the third-quarter as a revision. The question is how soft a landing are we going to get. A more conducive monetary policy would help the plight of stocks but we've got to see some data to support that notion.
continue economy fed good hoping news signs slowing syndrome
We're hoping for the 'bad news is good news' syndrome -- that we will continue to see signs of a slowing economy and that will make the Fed more accommodating.
bounce gains last profit seeing surprised
We're seeing some weakness, which is not surprising. We've had pretty sizable gains in the last two days, so you're seeing a little rotating out of sectors and some profit taking. However, I wouldn't be surprised if we see a little bounce after we get through the morning.
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.