Irwin Michael
Irwin Michael
april earnings good hoping month necks people stick stock today waiting
People are nervous, they're waiting for the 16th, they're waiting for earnings to come out, and they're hoping there are no surprises. The old adage, 'sell in May and go away' still applies. April was not a good month and today is terrible. It's really become more of a stock pickers' market, people don't want to stick their necks out too far.
again bit detriment high relief seems stocks switch technology toward
There seems to be a bit of a switch toward high technology stocks again to the detriment of 'old economy' stocks. I won't say it is euphoria, but a little it of a relief rally.
again breadth call days dog extremely handful largely leading stocks
It was extremely, extremely quiet. It's largely a handful of stocks again that are leading the market. I'd like to see more breadth to the marketplace. It's like the dog days of summer, as they call it: not very much activity.
basic flip high industries people rotation seeing side staying stock technology
The flip side of high technology (has meant) people have been staying away from basic industries because they're not nouvelle cuisine. You could be seeing some stock rotation here.
bell drive helping market northern softer stocks toronto
I don't know how Toronto would be without Bell and Northern Telecom... those two stocks are helping to drive the market. If you look at New York...logically our market would be a little to the softer side.
ahead either market move number players stock
(The market is) very quiet, choppy, very, very volatile. There are a number of players that have already exited ahead of Christmas. In consequence, very little is going on so it doesn't take much to move the stock either way, up or down.
correction market slow
I think the market correction is a slow bleed. It's being nickel-and-dimed to death.
commit market money nice people perky prosperous unsure whether
It is month-end. It's been a perky and prosperous January, so people are unsure whether they should go in and commit money right now with the market up 6 percent. It's had a nice move, so people are reticent.
run short
I don't think it's over for these companies, but in the short run I think they were overbought.
basis cut market points rate secret
I think the rate cut was the worst-kept secret around. If they didn't do 50 basis points, the market would be concerned, because I think 50 basis points was in the marketplace.
buy drifting finding level market necks nervous people question result stick
People are nervous and as a result the market is drifting and it's a question of finding the right level to buy or even to sell. People are scratching their heads. They don't want to stick their necks out.
continues market oil people
We're all waiting. For what, I don't know. My sense is the market is quiet, people are a little nervous, they want to see if oil continues to go through the roof.
bit bond creating gas market markets oil prices weaker worried
You had the bond market weaker and you had oil and gas up as a commodity. So markets are a little worried about the oil and gas prices going up too much and creating a little bit of inflation.
according claus expected market maybe past people rally santa shoe waiting
There's nervousness and people waiting maybe for another shoe to drop. It's not going according to (plan), most people had expected the market to be a little better. They expected a Santa Claus rally which was very muted this past year.