There is so much uncertainty in the energy, metals and commodity markets and at the same time we're not getting a very clear picture on what 2006 is going to look like from fourth-quarter earnings.
More Quotes from Paul Mendelsohn:
We're back to the point where a good payroll number will be seen as bad, ... particularly since (Treasury) bonds have been setting up to sell off.Paul Mendelsohn
The HP news is clearly positive, particularly for technology, ... and if nothing negative happens overnight, you could have a higher open. But we have CPI tomorrow, and that's a big unknown.
Paul Mendelsohn
It's been a pretty bad month, but today was a pretty good ending under the circumstances, considering that crude oil closed at a new high and that GDP numbers were so poor,
Paul Mendelsohn
Most traders will really be positioning for the October employment report. Economists are expecting that non-farm payrolls rose by approximately 50,000 during the month, providing evidence that with two straight months of employment growth, the jobs picture is finally turning around.
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
This is the first crack in the home building area. Home building has really driven a large portion of this economic advance, and any drop in this area of the market would have very powerful ramifications for GDP growth.
Paul Mendelsohn
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