Tech might get a little direction from how people trade Cisco today.
More Quotes from Marc Pado:
If you're going into the worst year of a four-year cycle and heading into one of the worst months statistically of the year, then it seems like a likely opportunity for the market to see its 10 percent correction.Marc Pado
Internally, the market's bounce left something to be desired. Since the market went out on the high of the day, it should have some morning momentum left. The real question is whether or not it can be sustained without any major earnings-, economic-, or oil-moving news.
Marc Pado
These were reassuring statements by the Fed, ... I think what the market ultimately fears is inflation. What makes assets worth less in the long run is inflation. What the Fed is effectively saying is, 'We won't let prices get out of control.'
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
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.
Marc Pado
Net-net, there's probably plenty of oil in the market. OPEC left production quotas, so that's a plus for the market this morning.
Marc Pado
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