The issue with this quarter lies in the fact that you have hurricane-related issues playing into the fray. I think it's going to make for a somewhat murky earnings season,
More Quotes from Bryan Piskorowski:
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.Bryan Piskorowski
The fact that we're seeing some profit taking is a good thing. Yesterday, for all intents and purposes, was a win, in that we didn't sell off more after hitting those early week highs.
Bryan Piskorowski
We're definitely at a hard point here, with inflation and interest rates kind of looming over everything. We have a market that's had a very rough October so far, and while you've got earnings coming up, that's not going to be the silver bullet for the market that it was in the second quarter.
Bryan Piskorowski
We're seeing some good old-fashioned short-covering in over-sold market conditions. There's a 'take no prisoners' kind of market mentality at play. Investors are playing it close to the vest and the feeling is that more can go wrong than can go right.
Bryan Piskorowski
By and large, today's session was fairly lackluster. Ahead of the earnings season, we came in with very low expectations and the one hope was we'd see projections of a potential turnaround. But now we're getting hit with third-quarter warnings.
Bryan Piskorowski
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