Irwin Michael Quotations

There is a recession already in some industries. And I think the key driver is going to be the consumer and how bad the unemployment rate is going to be, considering that layoffs are starting to pick up.

I don't think it's over for these companies, but in the short run I think they were overbought.

I think the market correction is a slow bleed. It's being nickel-and-dimed to death.

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.

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.

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.

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.

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.

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.

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.

The thing that we pride ourselves in and the thing we attempt to do is have consistent long-term performance. We may not be No. 1 over 12 or 18 months but we are consistently up there.

Northern Telecom and Bell, which had a nice day yesterday, gave part of it back today.

An incredible turnaround today, the market was down and dirty early this morning and it came back gradually.

You're not getting much help from the commodities. People are trying to get a better sense. They don't know whether it's time to go in and pick away at some of the resources that have been hammered down or run for cover.

You're basically seeing the economy still showing a lot of strength, and that will probably get people a little nervous, in terms of what the Fed may have to do again -- another pre-emptive interest rate increase, and we'll probably have to follow suit.

A lot of people sensed the market was ripe for a rebound but it's just not happening. It's definitely not something that happens overnight, so in addition to time it's going to take some good earnings.

This market needs real earnings and an economy that looks like it is turning around. The market is extremely volatile right now, but on thin volume, so it doesn't take too much to move it.

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.

It's extremely volatile today. There's no rhyme or reason to it. On balance, a quiet day, the metals seemed to be a little firmer.

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.

It's a big surprise in the context of weakening oil and gas stocks. An excellent sale. I don't think anyone's leaving too much on the table on this one.

It's very choppy. Friday looked like it was the end of the world, Toronto was down a 150-odd points, and we've gained it all back today. The market continues to be very volatile, and it's testing people. On balance, people are nervous, you don't want to do anything terribly audacious.

It's the banks that are leading it up.

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.

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.

The market was thin and it was nervous. On balance, it was extremely quiet with not a lot of activity. It's disjointed, it's sporadic and if you take Nortel out, it would have been a completely different story.

The market is volatile, people are edgy; it's also very, quiet in spite of the volumes. I guess everyone's waiting for a catalyst, something to drive the market at this point.

(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.

The market is like Sleepy Hollow today, there's very little going on and now there's fewer and fewer players out there. It drifts, it depends on the last trade.

The market is bouncing a little bit. We're still anxiously awaiting earnings numbers. Consistently, we're getting profit warnings, but while there is concern, at the same time hope springs eternal that things will turn around.