Peter Chandler
Peter Chandler
bit seeing
On a short-term basis, (techs) were very oversold and now we're seeing a bit of a bounce.
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,
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.
election elections err less rather side
In a U.S. election year, they err on the side of doing less rather than more.
area close concern finished focusing last market poor prospects selling stocks tech technology took week widespread
The market took off from where it finished last week which is dumping tech stocks because of concern about poor prospects for quarterly earnings. You had widespread selling focusing on the technology area (and) where we are right now is at, or very close to, a bottom.
behind corporate higher impact interest market might rate result rises sector seeing selling technology tends
The market now tends to be (thinking): With interest rate rises being behind us, if we've orchestrated a slowdown in the economy, how much of an impact will that slowdown have on corporate profits? Might corporate valuations be at the higher end of expectations? And so we're seeing some selling and softness, in the technology sector in particular, as a result of that.
bit breadth caught concerns draft markets narrow
The markets caught a bit of a down draft here today. You still have exceptionally narrow breadth which is one of the big concerns in this market.
belief beyond economy fed increase market maybe next raise rate signs slowing somewhat worst
The market has somewhat anticipated a half-point rate increase next week, so if they can see signs that the economy is slowing then the belief is that maybe the Fed will not have to do anything beyond the next meeting, and that maybe the worst of the rate raise is over.
anxiety disbelief main people sentiment
The main sentiment is disbelief and anxiety for people who are leveraged.
almost couple earnings focusing high market markets might moderate muddle next rally range recovery trading
The market is now focusing back on earnings. We're almost through the earnings season, but it's disappointing, so the markets are going to muddle around here. We still might make a moderate recovery high in the rally then we're going to go back into the trading range and get through the next couple of months.
couple expect gains giving market past sell
The market is giving back some of the gains that it made in the past couple of days. The market is now overbought so we should expect to see it sell off,
additional disturbing earlier economy federal head indicative inflation interest market news rearing strength
The market got some disturbing news about some additional strength in the economy earlier in the week, and that's indicative of inflation rearing its head and the (U.S. Federal Reserve) tightening interest rates.