Elvis Picardo
Elvis Picardo
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.
cent close healthy lows october per since street
This is just a normal, healthy bout of profit-taking. It's been a one-way street since the October lows and the index was up close to 20 per cent in that time.
begin fact gains optimistic seemed
It seemed optimistic to begin with. The fact that the gains have not been sustainable is not encouraging.
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.
fairly month today volatile
This has been a fairly volatile month for the TSX, and today is no exception.
despite investors mood whatever
Despite whatever has happened, investors are still in the mood for a bargain.
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.
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.
cause fact market rally reaction short shows term wednesday
The fact that the Wednesday rally was not sustainable is a cause for concern. It shows that the market does not want a short term solution. Much of the reaction was euphoric.
concerns economic economy-and-economics growth raise strong time
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.
both decent groups last materials today trading
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.
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.
absolutely cut market meeting next rate risk
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.