Nobody likes to fail in the fourth quarter. There are going to be companies that did well in the holiday season and they will be able to add to gains.
More Quotes from Marc Pado:
From now on, strong economic numbers threaten another rate hike. Weak numbers point to profit disappointments. What the bull market needs is a catalyst, which would likely need to be a break in energy and basic materials prices.Marc Pado
The market had been ignoring the recent run in crude, brushing it off as temporary emotional buying as a hedge against economic sanctions against Iran. Whatever the reason, oil is back up against all-time highs, and that was making the markets nervous.
Marc Pado
It's going to come down to how sales are pre-Christmas, what we hear from the retail sector, ... I would expect next week, while remaining positive, to have not as robust a move as we saw this week.
Marc Pado
There is no question that the tone has turned more positive. We haven't broken out yet, but the markets are poised. Now all we need is for the news to hit the ball out of the park, and it needs to be perfect. Crude is still high and the yield curve is still flat, but the market's focus is on other things right now.
Marc Pado
The good jobs report bought the bulls a reprieve, and now it is up to earnings to carry the torch. We're still heading right into the seasonally weak February and March months in a bearish midterm election year with rates rising and oil prices rallying. Januaries tend to start strong, but it is how they finish that matters.
Marc Pado
I'm not sure that Friday's decline will outweigh this week's long list of earnings reports and short list of economic data, ending on Friday with fourth-quarter GDP. Crude is making investors nervous, and by the end of the week, the FOMC meeting on the following Tuesday will also be a major cause for concern.
Marc Pado
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