Peter Chandler
Peter Chandler
monday
We had a lot of catch-up to do because on Monday Nortel was up and was one of the most actives on New York,
closer market trading
You just have so much uncertainty and the one thing the market doesn't like is not knowing, ... We're probably getting closer to a sell-out climax, a washout, that will at least give us a trading rally.
dramatic example known market movement northern parts quite selling senior
(Today) was quite speculative, quite frothy, you didn't have a lot of dramatic movement in any of the senior parts of the market today. If anything, some of them were selling off, for example Northern Telecom (now known as Nortel Networks).
fact gains held last market positive week
The fact that the market has held the gains from the end of last week is a positive sign.
bottom commodity companies falls lean line mean money past prices small turn
These (metals) companies are making more money than they have in the past 10 years, and they are lean and mean so any small turn in commodity prices falls right into the bottom line for these companies.
buy market news sell sold soon
Buy on rumor, sell on news, ... The market had discounted it, so as soon as it was news the market sold off.
bottom buyers couple establish hit money sideline sitting tried waiting
Buyers are on strike! There's some significant money sitting on the sideline waiting to see when we'll establish a bottom. We tried a couple of times during the day to hit bottom and failed,
guess markets systems tone
I guess Cisco systems set the tone for the markets as a whole and everyone just followed,
article good number plus stock stocks talked tech
On a very, very short-term basis, Nortel's stock was exceptionally oversold. Plus there was an article in Barron's that called for tech bounces and talked of a number of stocks that were good value. Nortel was in that handful,
bit seeing
On a short-term basis, (techs) were very oversold and now we're seeing a bit of a bounce.
basically canadian conclusion definitive direction flat looking market
The Canadian market is basically flat on the day. There's not a whole lot of direction from the markets. I still think that the market is looking for a definitive conclusion out of the U.S. election.
bit earlier giving sensitive side strength weak
But interest-rate sensitive sectors were soft, a bit on the weak side and giving back some of the strength they had earlier in the week.
election elections err less rather side
In a U.S. election year, they err on the side of doing less rather than more.
economy economy-and-economics gets market push slowing suspect
If the market gets some more confirmation of the slowing of the economy on Friday, then I suspect the market's got more to push on the upside.