Peter Chandler
Peter Chandler
anxiety disbelief main people sentiment
The main sentiment is disbelief and anxiety for people who are leveraged.
bit comfort market money provided pulled sidelines sitting support waiting
I think that provided a little bit of support for the market here. There's a lot of money sitting on the sidelines waiting to go in...The money is there to be pulled into the market once there is a comfort level,
pulling
It's the tussle between the 'old economy' and 'new economy' and Nasdaq is pulling back.
concerned corporate economy inflation markets mixed profits risk run signs slowing
It's a mixed bag. The markets are concerned about the slowing down in the economy. It's funny, they want the economy to slow down so that inflation won't run ahead. Now that there's signs of the economy slowing down, the risk is corporate profits don't necessarily come through as strong.
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.
automobile cylinders gear hitting kick market narrow running smoothly today
It's still very mixed, it's a very narrow market. It's like an automobile which has many cylinders. To really get our market in gear and running smoothly you need to have more cylinders hitting than fewer. We just had another cylinder kick in today with this spurt in gold.
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.
again bell canadian continues darling drove flat market northern stocks technology
It was a story of two different markets. The U.S. market was flat to nothing, the Canadian market was flying, and it's our darling stocks again -- Northern Telecom and BCE. Canadian technology was really what drove the market here. The story continues for Bell and Nortel.
believe join market money people prepared process
People are at odds. Most people want to believe that we're in a bottoming process but nobody's prepared to put a whole lot of money out on that assumption. It's a show-me phase: Show me the market has bottomed and I'll join the party.
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.
bit seeing
On a short-term basis, (techs) were very oversold and now we're seeing a bit of a bounce.
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.
caught cue fire question south whether
As usually happens, we take our cue from south of the border. And, of course, the Dow and the Nasdaq caught fire today. The question now is whether this is a one- or two-day thing or this is a sustainable rally.