Elvis Picardo
Elvis Picardo
despite investors mood whatever
Despite whatever has happened, investors are still in the mood for a bargain.
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.
buyers canada definitely energy factor helped lower overseas prime sentiment strong target
That is a factor that has helped sentiment today. Canada is a prime target for many overseas buyers because we are so strong in energy and commodities, and the valuations are definitely lower than the U.S.
canadian clearly guidance looking market wait
It was another day of wait and see. Nortel reiterated its guidance for the Canadian market. But the market is clearly looking for leadership.
economy financial good growing interest rates sector services stable strong
The financial services sector is especially strong because interest rates are stable and the economy is growing at a good pace.
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.
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.
maybe setting summer
Maybe the summer doldrums are already setting in.
earnings economy faster growth people weak
Overall, fourth-quarter earnings growth will be weak because the economy has slowed much faster than people had expected.
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.
cause fact market rally reaction short shows term wednesday
The fact that the Wednesday rally was not sustainable is a cause for concern. It shows that the market does not want a short term solution. Much of the reaction was euphoric.