The Fed cut 100 basis points (one percentage point) in January and we've got another 50 under our belt now. Monetary policy is a slow moving beast and ultimately it's going to take some time to turn this economy around.
More Quotes from Bryan Piskorowski:
It looks like a lack of bad news has brought out a little short-covering. It's a respectable open after the last couple of days we've had, but I'm hard-pressed to call it any trend.Bryan Piskorowski
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.
Bryan Piskorowski
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.
Bryan Piskorowski
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.
Bryan Piskorowski
Revised GDP is going to be key. If we have a weaker than expected GDP number that is going to weigh on the Fed,
Bryan Piskorowski
On the other side, in the box makers, we like Gateway. We think that we're through with the seasonally slow period. The fourth quarter is going to be the key for this stock and it has good positioning here.
Bryan Piskorowski
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