34 ordspråk av Elvis Picardo
Elvis Picardo
Clearly, the markets are still looking for direction. I think the next bit of good news will be from the Fed, and if there is any hint of lower interest rates that should be really bullish.
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Despite whatever has happened, investors are still in the mood for a bargain.
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Energy prices seem to be in the sweet spot. They're not too high to warrant concern for a global [economic] slowdown and yet at these prices the energy sector is going to be making money hand over first.
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From here on, I think the market will focus on the fact that the easing cycle is going to come to an end pretty soon. Which means the Fed might be seeing a recovery in the economy early next year. Investors are going to want to be in a position that they'll be in the rally once this happens.
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I think investors are asking why the Fed acted so quickly and so decisively.
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I think next week's meeting will be absolutely crucial. If the half-point rate cut is not materialized, the market is at risk of going down from these levels.
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I think the biggest impact today was the profit warnings coming out of the United States. We had some real heavyweights like Lucent, whose woes in particular brought Nortel down because they operate in the same market space.
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I think the view certainly had been that we were possibly looking at a Conservative majority, so ... we might see some modest profit-taking on the Toronto Stock Exchange.
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It is a classic indicator of a bull market when stocks don't go down even on bad news. It is a positive thing for the short term.
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It seemed optimistic to begin with. The fact that the gains have not been sustainable is not encouraging.
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It was another day of wait and see. Nortel reiterated its guidance for the Canadian market. But the market is clearly looking for leadership.
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It's a little disappointing to see a down day on the last trading day of the year. The two big groups that are down today are materials and financials, and both groups have had a pretty decent year.
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It's a sweet-spot theory. We have economic growth that's very robust, but at the same time it's not strong enough to raise concerns about inflation.
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Maybe the summer doldrums are already setting in.
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October is a bad month anyway. Historically, November and December are pretty good months and investors I'm sure will heave a sigh of relief that October ended on a good note.
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