Here’s What Could Create A Volatile Market For Stocks

  • September 29, 2003
  • Peter Navarro

Market
Trend: Down

Market Outlook: Down

Sector Watch: Bonds and foreign utilities
(+); broad market (-)

Peter’s Pick: CASH me if you can

Peter’s Broad Market Outlook:
House of Cards

It was small-cap carnage underlying the move down
in the broad market indices. In other words, it was much worse last week than
you thought. Expect more of the same — unless we get blowout earnings.

The Week’s Macro Data Market Movers: Big Week. Long Daze.

The
Macroeconomic Calendar


DAY


EVENT

Monday

·
Personal Income


Tuesday

·
Chicago PMI

·
Consumer
Confidence


Wednesday

·
ISM

·
Construction spending

·
Challenger Layoffs Report

·
Vehicle sales

·
Mortgage
applications


Thursday

·
Weekly
jobless claims

·
Factory Orders


Friday

·
Jobs
Report

·
Service ISM

* Potential major market
movers in red

A big week on the data front will likely create a volatile market for
stocks. Good news from the ISM may give the market a mid-week boost but Thursday
will likely be a waiting game for Friday’s jobs report. The big thing to notice
is that the market will now react more to bad news rather than simply run over
it.

Up —

Peter’s Pick: Cash

Sell in May and go away is a
nice little rhyming diddy but if you are still holding on, either batten down
the hatches or convert to cash.

If you
have a favorite macroplay or stock you would like us to consider in this column,
send an e-mail to

peter@peternavarro.com or go directly to

https://www.peternavarro.com. We’d love to hear from
you.