Elvis Picardo
Elvis Picardo
canadian clearly guidance looking market wait
It was another day of wait and see. Nortel reiterated its guidance for the Canadian market. But the market is clearly looking for leadership.
candidate close fairly looking mood obvious people recovery stocks taken
With the mood of the market, people are going to be looking for stocks that haven't yet taken part in recovery and I think Nortel would be an obvious candidate because it's still fairly close to its lows.
certainly looking might modest possibly stock toronto view
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.
affect ahead cautious direction greatly investors looking market wait watch
Overall, the market is looking for some direction ahead of Cisco, which is going to affect the market greatly tomorrow. Investors are being cautious ... It's a wait and watch approach.
bit direction good interest looking lower markets news next rates
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.
attention investors paying people profits taking
People are still paying a lot of attention to the data. I would not say investors are being bearish. But they are taking profits when they can.
action horizon indicate investors next perhaps pushed pushing recovery week year
The action this week does indicate that the recovery horizon has been pushed out further. Investors are now pushing the horizon into the next year or perhaps even after that.
despite energy high investors months profits recent run stocks table taking tremendous
Transportation stocks have had a tremendous run in recent months despite high energy prices, so it could be that investors are taking some profits off the table here.
cycle early easing economy fact fed focus investors market means might next position rally recovery seeing
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.
bad december ended good investors month months november october relief sigh sure
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.
maybe setting summer
Maybe the summer doldrums are already setting in.
changed few last pattern seen selling strength
We have seen selling into strength and that pattern has not changed in the last few weeks.
buyers canada definitely energy factor helped lower overseas prime sentiment strong target
That is a factor that has helped sentiment today. Canada is a prime target for many overseas buyers because we are so strong in energy and commodities, and the valuations are definitely lower than the U.S.
begin fact gains optimistic seemed
It seemed optimistic to begin with. The fact that the gains have not been sustainable is not encouraging.