Bryan Piskorowski Taking Quotations

I think a week of profit taking is fairly healthy after the kind of run we've seen.

We don't need a cause and effect here. We have bear psychology gripping the market so there's general apathy toward taking positions -- rallies are viewed as short-lived and trader-oriented.

A couple of days of profit taking is healthy and I wouldn't be reading too much into it. The discounting nature of the market being what it is, we just got a little ahead of ourselves.

Clearly trading here in the month of May feels more like August. But bottom line here, yes, we are, we're pinned in by interest rate uncertainty; we're pinned in by the Fed meeting coming up at the end of June. Obviously with those two things hanging over our head, the bottom line is the market really hasn't been taking a position on either side of the coin. In the last two weeks, we've basically been trading -- I can't believe this -- in the 10 percent range on the Nasdaq. But that's what it's been.

All of this building up with very little fundamentally to support it makes us vulnerable. It probably means there's going to be some news in the next few sessions that will cause some profit taking to come into play.