Even though the market might toss and turn over this week's data on home sales, durable goods orders and gross domestic product, the months-long pattern of sleepy, range-bound trading is likely here to stay -- at least until the midterm elections, says Jason Weisberg, a trader and senior vice president with Seaport Securities Corp.

"The market has the emergency brake on [until the elections] and the long-term investors have fled the market," Weisberg says. That helps explain why volume has been light for much of the summer -- and why the S&P 500 ($INX) has been stuck around 1,080 since mid-May.

"Economically, nothing has happened [for months]," Weisberg says. "And the outlook has gotten grimmer." Whether rightly or wrongly so, the market thinks President Obama is anti-business, Weisberg says. He believes investors will mark time until the November elections before committing new money to stocks.

For more on Weisberg's view from the floor of the New York Stock Exchange (NYX), see the video below:


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ultraz2

You don't need to invest with a full service bank stock brokerage house to loose your money while at the same time paying high fees to these people. Do your home work and invest conservatively thru an online stock discount service.Stay away from full service bank stock brokerages unless they promise to only charge when you sell and make a profit. You can do just as well investing your own money when you do your homework.

August 23 2010 at 10:37 PM Report abuse +1 rate up rate down Reply
scottee

not as long as The Fed is manipulating stock prices, gold prices and interest rates. and printing and diluting our dollar. is this okay with everyone? if no, what do we do about it???

August 23 2010 at 5:34 PM Report abuse +3 rate up rate down Reply
Big John

People not wanting into the market has nothing to do with the election. After the eight years of the "Market Got Drunk", smart people have learned the market is CROOKED. It took some time and effort but a lot of people finally figured it out. Let big business who is getting all the tax breaks support the market!

August 23 2010 at 3:51 PM Report abuse rate up rate down Reply
Gumby

Solar energy is still not going anywhere fast, so goes the economy! Remember "It is the Economy, S T U P I D B O N E H E A D!" by Mr Carville under Clinton Presidency... Now, It is my new line ....." It is the Kilowatt , S T U P I D D I P S T I C K !!! ""

August 23 2010 at 3:46 PM Report abuse -2 rate up rate down Reply
Gumby

Oh really?? Republicans gave us $145 oil barrels without any fair warning. I know some of you still miss $145 oil barrels so you will vote Republician. Not quite sustainable of you!!!!!!!!!!!!!!!!!!

August 23 2010 at 2:45 PM Report abuse -5 rate up rate down Reply
Gumby

Iran is the Bogeyman of the day!

August 23 2010 at 2:24 PM Report abuse +5 rate up rate down Reply
robelma

It is looking more like a no-brainer....no matter what side of the aisle you are on, and regardless of what party you voted for, if the Republicans sweep this November, the markets will go up. President Obama's behavior thus far has built uncertainty in the financial markets, unintended to be sure, and until investors...like you and me...feel more solid ground beneath us concerning the deficit, government growth and socialization, and taxes... the market will languish.

August 23 2010 at 2:19 PM Report abuse +1 rate up rate down Reply
1 reply to robelma's comment
BABIN

Who cares for stock market huh....this is only big casino where rich guys steal your money in legal way....just back old rules from era after World War II and tax rich guys 90% and everything just be fine after that,well never underestimate stupidity of the people who are blind and pay for everything in the past 60 years because rich guys print YOUR money every day and give to you back with big interest I never see in the human history somebody pay interest for OWN money...well because of that USA Consumers now have about $2.4 Trillion personal debt not counting house market huh...this all stuff not exist after world war II where peoples not have any debt or just a little, where don't exist CREDIT CARD and all crap from today.....USA voters always change the president but never change the party still only TWO party and never change how this system works and this is all problem because of all that peoples today are in big mess simple as that....AMEN....

August 23 2010 at 3:02 PM Report abuse rate up rate down Reply
jmichele1239

We are in dangerous times. Elections are just a few weeks away. Either "We The People" make significant changes in November,voting out corrupt incumbants in BOTH PARTIES and replace them with conservatives or we do not. We stand at a crossroads. I anticipate a contrived national emergency in the next few weeks to

August 23 2010 at 1:45 PM Report abuse +5 rate up rate down Reply
1 reply to jmichele1239's comment
scottee

we need tea party candidates... toss out the republicans and democrats and vote in tea party candidates!

August 23 2010 at 5:35 PM Report abuse +2 rate up rate down Reply
jmichele1239

We are in dangerous times. Elections are just a few weeks away. Either "We The People" make significant changes in November,voting out corrupt incumbants in BOTH PARTIES and replace them with conservatives or we do not. We stand at a crossroads. I anticipate a contrived national emergency in the next few weeks to

August 23 2010 at 1:45 PM Report abuse +3 rate up rate down Reply
bdyftns

Bush let the stock market go from 14,000 + down to 6,600. You wanted change we got it. Obama brought the down from it's 6,600 to over 10,000. He made me quite a bit of money. If Bush was still in office we'd be selling apples on the street.

August 23 2010 at 1:07 PM Report abuse -6 rate up rate down Reply