(Techs) are being psychologically driven with the mentality of 'I've got to get out, I've got to have closure', and that's what you usually need for market bottoms, |
(Today) was quite speculative, quite frothy, you didn't have a lot of dramatic movement in any of the senior parts of the market today. If anything, some of them were selling off, for example Northern Telecom (now known as Nortel Networks), |
(Today) was quite speculative, quite frothy, you didn't have a lot of dramatic movement in any of the senior parts of the market today. If anything, some of them were selling off, for example Northern Telecom (now known as Nortel Networks). |
As usually happens, we take our cue from south of the border. And, of course, the Dow and the Nasdaq caught fire today. The question now is whether this is a one- or two-day thing or this is a sustainable rally. |
Banks are weak across the board and that's really the belief that the economy is slowing and anxiety about the risk of some their loans. |
But interest-rate sensitive sectors were soft, a bit on the weak side and giving back some of the strength they had earlier in the week. |
But the probability is that we still have to test the lows that we saw in July, and that should set up a much better dynamic for a more meaningful rally going into the end of the year. |
Buy on rumor, sell on news, ... The market had discounted it, so as soon as it was news the market sold off. |
Buyers are on strike! There's some significant money sitting on the sideline waiting to see when we'll establish a bottom. We tried a couple of times during the day to hit bottom and failed, |
I don't think you can expect a whole lot of fireworks going into a day like tomorrow because nobody is going to be prepared to make a big call either way in this market, |
I guess Cisco systems set the tone for the markets as a whole and everyone just followed, |
I still think that the concern is interest rates and high valuations of specifically technology. And you will get these relief rallies but the market probably still has a bias to the down side. |
I think that provided a little bit of support for the market here. There's a lot of money sitting on the sidelines waiting to go in...The money is there to be pulled into the market once there is a comfort level, |
If the market gets some more confirmation of the slowing of the economy on Friday, then I suspect the market's got more to push on the upside. |
In a U.S. election year, they err on the side of doing less rather than more. |