Elvis Picardo
Elvis Picardo
changed few last pattern seen selling strength
We have seen selling into strength and that pattern has not changed in the last few weeks.
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.
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.
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.
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.
gains hard looks rally
This rally looks sustainable because the gains are smaller. It is not like you have a 250-point gain in one day, which is hard to keep up.
ability bad market might move shake
We might be seeing, after a long time, an ability to shake off bad news. That's what we need to see this market move higher.