The market's been getting positive news from GM, oil and semiconductors. But we have the quadruple witching to contend with, which could lead to a lot of volatility, so even though we're up now, we could open anywhere.
More Quotes from Paul Mendelsohn:
You probably just have some profit taking on people who've made some money on this move from 1,260 to 1,290 are on the SP 500.Paul Mendelsohn
This correction is happening at an interesting time, coinciding with February's seasonal weakness and two events over the next few days that will be important both for interest rates and equity markets -- Friday's unemployment report and the G7 meeting this weekend,
Paul Mendelsohn
The employment situation is always a market mover because it is one of the Fed's favorite indicators when it comes to designing their policy statement.
Paul Mendelsohn
The big problem for the market has been the news flow. Energy prices continue to rise, gold prices continue to go up and earnings are coming in very mixed.
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The market is still being buoyed by the energy sector. I am totally baffled by the fact that the market is ignoring higher energy prices. But at some time, higher energy prices will have an impact.
Paul Mendelsohn
The major problem weighing here this morning is Dell, ... They missed revenue projections by a lot, and their earnings were also at the low end of the target, so that is reminding market participants that there may be a consumer slowdown taking place.
Paul Mendelsohn
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Based on Keywords: quadruple, witchingI'm supposed to say, Bill O'Reilly, that's immoral - click - and then walk back in and book his A block the next day and have a fine day and everything be kosher? I don't think so.
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So when they have Mourinho and Benitez joining the Premiership they should say it's good for us, maybe these guys have something new to give.
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