The current market situation is such that it has everyone on pins and needles, said Aaron Task on Jim Cramer's
"RealMoney" radio show Monday. Task, co-executive editor of
, will be filling in for Cramer this week.
In fact, the volatility of the marketplace brings one particular word to mind: schizophrenia, Task said, referring back to Cramer's May 24 show. On that broadcast, Cramer had used the word to describe the sense of unpredictability that reigned in the market.
The one common denominator in the shifting of the market is the
, Cramer had said. Whenever there is strength in the economy, people become petrified that rates will increase, and weakness makes people happy, he had said.
During his trading life, Cramer said he had never seen such a short supply of copper. China has a huge demand for copper, and the Fed is quelling the commodity's demand, he had said on the May show.
This is killing business activity because of concerns of what the Fed might do.
It's all about Ben Bernanke and the Federal Reserve this week, Task said, adding that it is more than likely going to raise rates for the seventeenth straight time.
Today new homes sales were higher than expected, which in turn caused dread that this might cause the Fed to tighten rates by 25, or even take a big step and tighten them 50 basis points, instead of making incremental rate hikes, Task said.
This is the opposite setup market players had heading to the last Fed meeting on May 10, when people thought the Fed was finished raising the rates.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
Aaron L. Task is the co-executive editor of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships.
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