Mike Cloherty Quotations

If we get anything close to the 1.4 (percent) increase in the first-quarter, that will put the Fed back into play.

That ex-auto number is really what's been pushing the market back today. That could force some more upward revisions to the third quarter GDP forecast.

People are concerned about how smoothly today's auction will go.

I'm shocked by the Fed's move. It's hard for me to say it all makes sense.

Yeah, the rate held steady, but all the payroll stuff is extremely weak. To have 357,000 down and 108,000 down back to back is definitely a concern.

We'll get a big upward push from tobacco and from energy prices, and we'll see the same type of things when the CPI comes out next Tuesday.

That weakness on the claims front is offsetting the durable impact.

That will be a big double-whammy, the one-two on Friday. It's not the day to take off work.

Everyone's talking about the Fed's deflation paper. You're starting to see a lot of people talk about Japan and comparing it to here.

With signs of things looking a little better, those expectations have diminished.

Even if they give you a warm hug while they do it, just the fact that they intentionally changed the statement in order to give themselves more flexibility would force investors to respond.

After last week's sell-off a lot of people were caught underwater on positions. So after the market's bounce this morning, traders took it as an opportunity to lighten up on their positions . . . to buy back on some of their loss incurred Friday.

People assume that because the flow of information is faster, the results will be faster.

They've given all this extremely confusing talk about unconventional methods over the past few months. There's substantial work to be done on the whole communication issue over there.

This is a number you're not supposed to pay attention to in the summer.

In all their recent speeches, Fed officials certainly haven't given up any flexibility at all. For them to do something where they give up a tremendous amount of flexibility would be a big surprise.

I'm not against conspiracy theories as a whole, but they have to be at least somewhat credible. I guess that now that the 'X Files' is off the air you need to have this stuff to fill the void.

The big inflationary news will be next week's CPI. It's a much broader price measure and gives you a much better look at price movements in the economy.

It won't make these problems go away, but it certainly will help.

It's a very volatile component that should come back in the fist quarter. It's a weak report, but it's not quite as God-awful as the headline numbers make it look.

It's going to be much harder for the Fed to talk rates down after what's gone on lately. At this stage it's really going to require action rather than talk.

Heavily unionized industries have a much higher filing rate because the union does all the paperwork for you and lets you know how the system works.

All these fears that were in the market this week won't go away. Don't expect them to go away over the weekend.