There's still a huge disconnect between the recovering economic factors and the stock action, and corporate governance concerns are a big part of that.
More Quotes from Bryan Piskorowski:
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.Bryan Piskorowski
The market is side-stepping the summer sweats. We're doing a good job of dodging the day's corporate governance bullets,
Bryan Piskorowski
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.
Bryan Piskorowski
While investors seemed to take the news in stride, to a certain extent, you have traders in fear of the tape, ... Rumors and innuendo are still sparking knee-jerk reactions and that's reflective of how many itchy trigger fingers are out there.
Bryan Piskorowski
Today's (Tuesday) trade is best summed up as skittish consolidation. We're struggling for direction in thin trade with people reluctant to do much ahead of the anniversary. You saw a late-day reversal yesterday (Monday) from the morning's lows and you're seeing a little pop-up right now, but it doesn't mean anything fundamental. Program traders are dominating the day to day.
Bryan Piskorowski
This number is clearly the basis for our weakness, ... The economy's recovery has hinged on consumer strength, so this number becomes more significant.
Bryan Piskorowski
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