Irwin Michael
Irwin Michael
bad consumer driver key layoffs pick rate recession starting
There is a recession already in some industries. And I think the key driver is going to be the consumer and how bad the unemployment rate is going to be, considering that layoffs are starting to pick up.
banks leading
It's the banks that are leading it up.
earnings economy extremely looks market move needs thin turning volatile
This market needs real earnings and an economy that looks like it is turning around. The market is extremely volatile right now, but on thin volume, so it doesn't take too much to move it.
hammered help people pick resources run time trying whether
You're not getting much help from the commodities. People are trying to get a better sense. They don't know whether it's time to go in and pick away at some of the resources that have been hammered down or run for cover.
commit market money nice people perky prosperous unsure whether
It is month-end. It's been a perky and prosperous January, so people are unsure whether they should go in and commit money right now with the market up 6 percent. It's had a nice move, so people are reticent.
correction market slow
I think the market correction is a slow bleed. It's being nickel-and-dimed to death.
april earnings good hoping month necks people stick stock today waiting
People are nervous, they're waiting for the 16th, they're waiting for earnings to come out, and they're hoping there are no surprises. The old adage, 'sell in May and go away' still applies. April was not a good month and today is terrible. It's really become more of a stock pickers' market, people don't want to stick their necks out too far.