There's so much uneasiness and so much uncertainty as it relates to holding positions that at any opportunity, people just gather themselves and get back into their shells and wait for the next move.
There's some concern about the unemployment data tomorrow (Friday), but there's more concern that with so little data coming out next week, markets may drift.
Clearly world events are dictating the pace and the activity here. As we've seen in many of the afternoons over the past couple of weeks, individuals and traders just don't seem to be willing to hold positions overnight based on what's going on around the world.
I think bumps in a market that's got upward momentum to it is a good thing. I'm looking forward to the quarterly results that are coming out next week.
We believe that our move into this state of the art trading facility will allow us to further our strategic plan of becoming a scale player within the market making and execution services industry.
Based on how far we've come, we have to be prepared for some pullback along the way.
This was a prototypical Friday in that traders and investors weren't eager to carry any positions over the weekend and you saw fluctuations back and forth in the market. It will be tough to get a gauge on what Monday morning will look like.
Investors are very reluctant to hold positions in an environment like this. People are anticipating that if the data on consumer sentiment is fairly innocuous, the day could be over at 10:30 a.m. tomorrow morning.
These days you'll find one bull for every bear. The market is just wrought with uncertainty.
Those willing to keep their feet in the water could see the same thing at the close that we got today, a lot of reconciliation and everybody looking for something to hold.
