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April 18, Schaeffer's Remarks before the open:
In a surprisingly sharp reversal, yesterday the markets were able
to shake off the bad news of the prior evening and embark on a fairly
flat, albeit, positive day. Post-closing earnings reports peaked
investor confidence, as the futures market gapped above the trading
day's highs in extended hours trading. Comments from Texas Instruments
(TXN - 34.00), Intel (INTC - 26.04), and Duke Energy (DUK - 44.60)
have all three companies indicated higher.
.
.
.
Certainly yesterday's markets started out with all of the makings of a
poor day ahead. Cisco (CSCO - 16.66) had warned again after the previous
close. All the futures contracts were deeply in negative territory, and
no overseas market was trading in positive territory.
Today looks to start out quite the opposite. All of our June futures
contracts are well to the positive side. In fact, the Nasdaq Composite
contract has been "limit-up" all morning. All 15 of the overseas markets
that we track are trading to the plus side.
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