You're going to see increased volatility through the end of the week, and it's probably going to be even worse Friday,
More Quotes from Tom Schrader:
A slowing Chinese economy would put a damper on commodity prices. People are concerned that slowdown would hurt the global economy.Tom Schrader
We had such big gains yesterday that it is not unusual for us to consolidate a little bit. Then, oil's down but gasoline is up and that is counterbalancing each other, ... The economic news we had this morning was less than inspiring.
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
But the ups and downs of company fortunes resulted in little tumult and little change. It's calm and fairly quiet today, which probably relates to the storm up and down the East Coast, which is keeping a lot of traders home, ... But everybody has a pretty positive tone. I'd just like to see a little more business,see the volume pick up a little.
Tom Schrader
Last week was very busy and I think today there is less impetus to move. There's no earnings news, no economic news until later in the week, and so there's nothing really to move us.
Tom Schrader
I've heard that numerous trading desks, out of concerns about terrorism and congestion, are staffing their disaster recovery sites with half their personnel. A number of money managers are going to be working from home.
Tom Schrader
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