Bryan Piskorowski Earnings Quotations

Selling on the news has been the mantra for second-quarter earnings season. What's more has been the bull's inability to piece together any kind of winning streak. With sustainability in question and anxiety abounding about tomorrow's (Thursday's) Employment Cost Index and Friday's second quarter GDP, few players are willing to step up to the plate today.

We are in a bit of a news vacuum as we wait for the deluge of corporate earnings reports.

Earnings have been good, but we're priced for perfection. The bulls want a stronger wine to keep the party going.

You got technical selling coming in as we broke a support level. Beyond that, we're just sitting here in no-man's land waiting for earnings announcements and economic data.

Ultimately what we're trying to come to grips with is the fact that we understand that second-quarter earnings are not going to be good but the timing of a recovery is hanging over our head. We'll get some forecasting, looking out, but it's what those forecasts say that puts proof in the pudding.

After suffering from an oversold condition, recent earnings reports have clearly benefited the bulls. Putting this into perspective, one-third of the S&P 500 has reported thus far, with 72% beating the consensus estimates, while only 17% have come in below estimates. After some mixed results on the earnings front in tech, we are on the mend.

And that's why we're going to stick close to the earnings tree, closer to the large cap names.

This morning it was really a story of positive earnings on the tape and no major hiccups on the economic front. All in all, it's going to play out as a respectable but not blow-out earnings season.

It was really a story of positive earnings on the tape and no major hiccups on the economic front. You had decent reports from three sectors in general: industrial, tech and health care.