Irwin Michael
Irwin Michael
basic flip high industries people rotation seeing side staying stock technology
The flip side of high technology (has meant) people have been staying away from basic industries because they're not nouvelle cuisine. You could be seeing some stock rotation here.
bit bond creating gas market markets oil prices weaker worried
You had the bond market weaker and you had oil and gas up as a commodity. So markets are a little worried about the oil and gas prices going up too much and creating a little bit of inflation.
according claus expected market maybe past people rally santa shoe waiting
There's nervousness and people waiting maybe for another shoe to drop. It's not going according to (plan), most people had expected the market to be a little better. They expected a Santa Claus rally which was very muted this past year.
gave nice northern
Northern Telecom and Bell, which had a nice day yesterday, gave part of it back today.
came dirty early incredible market morning turnaround
An incredible turnaround today, the market was down and dirty early this morning and it came back gradually.
attempt consistent months ourselves pride
The thing that we pride ourselves in and the thing we attempt to do is have consistent long-term performance. We may not be No. 1 over 12 or 18 months but we are consistently up there.
hammered help people pick resources run time trying whether
You're not getting much help from the commodities. People are trying to get a better sense. They don't know whether it's time to go in and pick away at some of the resources that have been hammered down or run for cover.
again basically economy fed follow interest people rate seeing showing terms
You're basically seeing the economy still showing a lot of strength, and that will probably get people a little nervous, in terms of what the Fed may have to do again -- another pre-emptive interest rate increase, and we'll probably have to follow suit.
extremely metals quiet reason rhyme seemed volatile
It's extremely volatile today. There's no rhyme or reason to it. On balance, a quiet day, the metals seemed to be a little firmer.
continues friday gained looked market people terribly testing toronto
It's very choppy. Friday looked like it was the end of the world, Toronto was down a 150-odd points, and we've gained it all back today. The market continues to be very volatile, and it's testing people. On balance, people are nervous, you don't want to do anything terribly audacious.
banks leading
It's the banks that are leading it up.
earnings economy extremely looks market move needs thin turning volatile
This market needs real earnings and an economy that looks like it is turning around. The market is extremely volatile right now, but on thin volume, so it doesn't take too much to move it.
again bit detriment high relief seems stocks switch technology toward
There seems to be a bit of a switch toward high technology stocks again to the detriment of 'old economy' stocks. I won't say it is euphoria, but a little it of a relief rally.
again breadth call days dog extremely handful largely leading stocks
It was extremely, extremely quiet. It's largely a handful of stocks again that are leading the market. I'd like to see more breadth to the marketplace. It's like the dog days of summer, as they call it: not very much activity.