Elvis Picardo
Elvis Picardo
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.
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.
changed few last pattern seen selling strength
We have seen selling into strength and that pattern has not changed in the last few weeks.
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.
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.
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.
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.
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.
concerns fall few iran past rise seen today
Over the past few months, we've seen these concerns about Iran and Nigeria. We've seen them rise and fall and today was a day when those concerns were predominant.
acted asking fed investors quickly
I think investors are asking why the Fed acted so quickly and so decisively.
bad bull classic indicator market positive short stocks
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.
biggest brought coming impact market operate particular profit today united whose woes
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.
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.