There's not a lot happening ... it's just really, really quiet. You might see this kind of action through Labor Day. Typically, this just isn't a good time of the year to put money to work.
More Quotes from Tom Schrader:
The payrolls number is probably going to be in line, and we'll see another session of listless trading. But if it is something dramatic, we could see a violent reaction, one way or the other.Tom Schrader
It (the advance) seems to be very broad-based, with really good breadth,
Tom Schrader
I think people are very worried that this is going to stretch out, particularly if it's close. No one knows who is going to win, or when they will win, and there's still talk of terror activity around the election.
Tom Schrader
If it's 25 basis points and the bias is neutral, they're going to sell it off. If it's 50 basis points and neutral, they'll sell it off. You'll probably see a smaller bout of selling if it's 50 points, because although that would mean the economy is doing worse than we've thought, it would also signal that the Fed is not going to cut again for a while.
Tom Schrader
Sometimes Greenspan tends to spin a web when he's talking, so I am not sure how many hints he'll give about the size and speed of interest rate hikes.
Tom Schrader
Intel and a Barron's online article about slower PC sales hit the techs in the morning, but I don't think they said anything that hasn't been said or hinted at recently.
Tom Schrader
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Let us dedicate ourselves to what the Greeks wrote so many years ago: to tame the savageness of man and make gentle the life of this world.
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