Rick Hutcheon
Rick Hutcheon
coming fund great managers positions quarter reporting sector selling simply stocks tech technology weights
Tech stocks are under great selling pressure. A quarter end is coming up and fund managers are probably trimming their positions in the technology sector simply because they don't want to show big tech weights at the end of their reporting period.
banks bit great last moves seeing week
The banks had some great moves last week and so we're just seeing a little bit of consolidation.
action fed guess market
My guess is the action of the Fed was pretty much discounted by the market already.
bizarre economy energy game market mines quite rest stocks tech virtually
It's been quite a bizarre market. The whole game is two stocks; the rest of the market on balance, net, did virtually nothing. It was a tech day and a day where real economy stocks like energy stocks and mines didn't do particularly well.
accounts held paper stock
I would think that that stock would be held in a lot of index-type accounts that probably can't own a lot more American paper than they already do.
build certainly due earnings indicative itself market maybe rally stage turn
This is indicative of a market that's really degenerated into a show-me situation. But if earnings turn out to be OK, then maybe the market can build on itself and stage a rally because it's certainly due for a bounce.
built focused knock legs modest rally
It was very narrow, it was very focused and very dangerous. It was a rally that was built on very modest underpinnings. You knock out any one of those legs and you're in trouble.
basis expectation fact fed maybe obviously people percentage points state themselves worked
People had themselves worked into state of expectation that the Fed was going you go 75 basis points and maybe even 100 and the fact that they only went 50 points (one-half percentage point) has obviously not been well received.
concentration data economic intense next numbers
Concentration on economic numbers and data is going to be intense for the next little while.
act fed
In all likelihood, the Fed will act at the end of this month.
folks gift nice unlock value
It's all CP today. There's a nice little gift for the folks that own CP. Unlock some of the conglomerate discounted value in those things.
basic belief beyond cyclical economy existed gap sector stocks stretched technology
The valuation gap that existed between the technology sector stocks and the basic economy cyclical stocks was stretched beyond belief.
damage evidence hope indicative investor market overcome psychology severe takes trying
The damage to investor psychology is pretty severe and it takes a while to overcome that. But there is a lot of evidence of panicky selling, which one can only hope is indicative of a market trying to find its footing.
again canadian complex driving gold iran natural oil price resource therefore today
We're up today because of the Iran (tensions) and therefore the price of gold and oil is driving our market. It's the natural resource complex that is once again driving the Canadian market.