Elvis Picardo
Elvis Picardo
affect ahead cautious direction greatly investors looking market wait watch
Overall, the market is looking for some direction ahead of Cisco, which is going to affect the market greatly tomorrow. Investors are being cautious ... It's a wait and watch approach.
cent close healthy lows october per since street
This is just a normal, healthy bout of profit-taking. It's been a one-way street since the October lows and the index was up close to 20 per cent in that time.
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.
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.
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.
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.
fairly month today volatile
This has been a fairly volatile month for the TSX, and today is no exception.
begin fact gains optimistic seemed
It seemed optimistic to begin with. The fact that the gains have not been sustainable is not encouraging.
changed few last pattern seen selling strength
We have seen selling into strength and that pattern has not changed in the last few weeks.
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.
definitely rotation sector seeing
We are definitely seeing some sector rotation into technology.
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.
candidate close fairly looking mood obvious people recovery stocks taken
With the mood of the market, people are going to be looking for stocks that haven't yet taken part in recovery and I think Nortel would be an obvious candidate because it's still fairly close to its lows.
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.