Peter Canelo Quotations | Page 2

We'll probably see some profit taking going into next month.

It could be an extended consolidation in the 'new economy' stocks that could take us through the end of the year.

I think the market is clearly getting used to the idea that the Federal Reserve is going to raise rates. I don't think it's a question anymore of whether they do it in March or not. If they don't do it in March, they (will) do it in April. The real question now is how much do they do it (and) when they do it.

I think the index has failed to keep up with the times. There are too many companies missing.

The market will be looking for a flat unemployment number and a small tick up in jobs, and if the market doesn't get that, it's gonna feel it.

The market isn't cheap. But I think strong participation from foreign investors is helping and the (planned) cut in the (U.S.) capital-gains-tax rate makes the market cheaper.

Foreign investors tend to be worried when there is talk of impeachment because they don't always understand our system. That is important because it was precisely Europe that contributed heavily to buying in the U.S. I don't know if they are selling right now necessarily, but it's a pretty good bet that they are not buying.

With inflation really under control and deflation at producer price levels, I don't think they'll do anything.

It's just telling you that the selling has been done, and now investors are coming in looking for bargains. The bulls are back in the saddle.

I think that's going to be a real plus.