Tom Schrader
Tom Schrader
convention due fact nice oil passed primarily relief
We had a very nice rally, primarily due to the fact that we had oil down, and there was some relief that the convention passed without incident.
area builders coming home led negative news obviously
We have negative news coming out of the home builders this morning, and obviously that's been an area that has led the economy.
concerns retail sales seem
There are some concerns about retail sales but they don't seem to be weighing on the market.
beyond count durable economic goods lack land market news oil orders price reported starting tomorrow
We're starting to get into that no man's land of lack of earnings, with most of the S&P 500 having reported already. We'll have durable goods orders tomorrow and beyond that, the market is going to have to count on the economic news and the price of oil for drivers.
concerns earnings oil prices scaring
We've got earnings concerns today, and oil prices are still scaring everyone.
indicator main people report waiting
I think the unemployment report is the main indicator people are waiting for this week.
higher inventory oil pushing taking whipping
They're taking oil higher because of the inventory numbers, ... but the thing with oil is that there's a lot of whipping and sawing in the oil pits, a lot of things pushing oil around.
employment euphoria fact friday oil prices saw seeing
I think you're seeing a continuation of the euphoria we saw on Friday with the employment numbers, and the fact that oil prices are down again.
earnings expected maybe meaningful people sitting waiting
I think a lot of people are sitting on their hands, waiting for a little more meaningful earnings reports, ... Alcoa was better than expected and we have GE earnings at the end of the week, so maybe that will give us some direction.
authorized aware bush causing intelligence-and-intellectuals leak maybe news weakness
The news that Bush was aware of or maybe authorized the (intelligence) leak is what's causing the weakness in the market.
friday low skeleton street tends volume wall
Low volume tends to exacerbate any moves, and I think on Friday everyone on Wall Street is going to have skeleton crews on staff.
europe initial people rally reaction reason saw selling weak
A lot of the reason for the rally is that people think that everything's on the table. You saw a knee-jerk reaction this morning, with people selling on an initial reaction to the news, Europe being down so much and some weak earnings, like Kraft.
increased volatility worse
You're going to see increased volatility through the end of the week, and it's probably going to be even worse Friday,
drag left market money people selling sit whatever
It's a continuation of the same concerns. People don't want to put money in when we have nothing but uncertainty on the international front. There's been so much selling already, but whatever is left is enough to drag the market down. People want to sit it out right now.