Peter Chandler Quotations

We're in a bouncing environment and as soon as you get any kind of bounce they're selling into the bounce, and that's what we're seeing here.

We're just about through the earnings season. We have to go through this bump and grind. I think it will probably be like this for several months yet to come, until the market starts to focus on looking beyond the short term to the recovery that surely will follow.

We're in what I call the dog days of August. It's quiet, it's slow. Most market participants are sitting on the sidelines, waiting for some definitive sign from the economic numbers.

We're still in the midst of a new earning season. There's probably going to be more disappointment in earnings than pleasant surprises.

We're still a market that's correcting, that's going to be awfully selective and there's still a bias to the downside.

We're seeing relative strength in (metals and minerals). There are a lot of base commodities prices that are trading at higher levels right now. The fact that the (Canadian) dollar is as low as it is has made our metals sector more competitive than they would at higher levels.

We've got favorable action from the Federal Reserve Board again, indicative that they are going to continue to aggressively ease. So that's a favorable environment for stocks,

We've seen pockets of strength in the Canadian markets, so the Canadian market actually acted a lot better than the U.S. market did as a whole.

We made a new low on the Nasdaq yesterday and on a very, very short term basis it's oversold and I think that we can expect this kind of activity from time to time where the market gives us some relief, some bounce.

So if we're seeing incremental evidence now of the economy slowing down, then we should have a reasonable expectation to continue to expect that to happen.

Obviously some serious damage has been done to the market. We've gone through some important support levels, certainly with a number of the popular averages.

My suspicion is that on a short-term basis the market was oversold. It got spanked this morning with Nokia from overnight and the free fall (in Nokia stock) has stabilized to come back a point off its low,

But the probability is that we still have to test the lows that we saw in July, and that should set up a much better dynamic for a more meaningful rally going into the end of the year.

I don't think you can expect a whole lot of fireworks going into a day like tomorrow because nobody is going to be prepared to make a big call either way in this market,

We're in the midst of a rally that probably looks like it will have a bit more legs,

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,

It has been a good day for the index. Toronto has held up very well and held its gains better than the Dow or the Nasdaq,

It is a tech wreck, that's for certain, ... You need capitulation to have good bottom. I didn't see that today. I saw an absence of buyers. Quite frankly there just weren't enough bids. Have we fallen enough here? Probably not.

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.

out from underneath Ma Bell's skirt, able to continue to expand and pursue their growth strategy without having a big mother looking over.

I still think that the concern is interest rates and high valuations of specifically technology. And you will get these relief rallies but the market probably still has a bias to the down side.

That whole sector keeps saying we've seen the bottom but it seems to still be bumping along and staying on the bottom.

You just have so much uncertainty and the one thing the market doesn't like is not knowing, ... We're probably getting closer to a sell-out climax, a washout, that will at least give us a trading rally.

We went up a long way quickly. This is some healthy profit-taking in what I would suggest is still very much an ongoing bull market in hard assets -- oil, gas and base and precious minerals. A healthy correction is a healthy thing.

We had a lot of catch-up to do because on Monday Nortel was up and was one of the most actives on New York,

(Today) was quite speculative, quite frothy, you didn't have a lot of dramatic movement in any of the senior parts of the market today. If anything, some of them were selling off, for example Northern Telecom (now known as Nortel Networks).

The fact that the market has held the gains from the end of last week is a positive sign.

We're turning into the most acute period of what I would call the 'early warning season' for the next quarterly earnings announcements.

Why does everybody care so much? I know it's going to be on the headlines but I don't know what it's supposed to mean.

What is good is that we're seeing a real turn in investor sentiment to the negative, and you need that before you can get any sort of a bounce,

What goes up will come down. Thinking about how much they've come up, these things are bound to see some profit-taking from time to time. It's not surprising that some of these stocks are pulling back a little bit.

We had the good economic data south of the border but the problem on our side is the weight of the industrial products sector,

These (metals) companies are making more money than they have in the past 10 years, and they are lean and mean so any small turn in commodity prices falls right into the bottom line for these companies.

(Techs) are being psychologically driven with the mentality of 'I've got to get out, I've got to have closure', and that's what you usually need for market bottoms,

Tech stocks were oversold on a short-term basis and on Monday everybody had to get out of them because of Microsoft, and then Tuesday everybody thought that if Microsoft is broken up maybe it's not the end of the world, and maybe there's an upside to it.

Nortel was above C$130 a few weeks ago and went down to around C$95, which was a healthy correction. It gained more than seven points today and the snap back is completely within reason.

Nortel is benefiting from a general recovery in the technology stocks in the U.S. as well.

Banks are weak across the board and that's really the belief that the economy is slowing and anxiety about the risk of some their loans.

That's when companies will make an announcement to prep the market in advance of releasing their results, that they're going to be stronger or weaker than expected,

This is the first week of full-tilt fourth-quarter earnings both here and south of the border so the market is really full of anxiety and apprehension on that.

There's a potential end in sight but as Yogi Berra said 'it ain't over till it's over,' so there's still uncertainty out there. When the market believes it's over, then we're going to get, if nothing else, one heck of a short-term rally.

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.

It's earnings season for the banks again and the Street is looking for continued strong numbers.

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.

It's a real mixed bag. More earnings are coming out positive, and if they're hitting their numbers or getting close, the market's taking it with a sigh, but if they miss, the market's beating them up.

It's the tussle between the 'old economy' and 'new economy' and Nasdaq is pulling back.

It's the push and pull between the good news and the bad news,

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.

The bad news being the lower earnings that are going to start coming out. The good news is most of the damage has been done in the market and it's trying to find a good bottom.

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.

It was pretty flat, pretty subdued. I expect quieter volumes for the balance of the week.

There's the whole theory that there's a lot of exceptionally good fundamental value in those old economy, cyclical type stocks.

On a very, very short-term basis, Nortel's stock was exceptionally oversold. Plus there was an article in Barron's that called for tech bounces and talked of a number of stocks that were good value. Nortel was in that handful,

On a short-term basis, (techs) were very oversold and now we're seeing a bit of a bounce.

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.

In a U.S. election year, they err on the side of doing less rather than more.

I guess Cisco systems set the tone for the markets as a whole and everyone just followed,

If the market gets some more confirmation of the slowing of the economy on Friday, then I suspect the market's got more to push on the upside.

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.

Buy on rumor, sell on news, ... The market had discounted it, so as soon as it was news the market sold off.

Buyers are on strike! There's some significant money sitting on the sideline waiting to see when we'll establish a bottom. We tried a couple of times during the day to hit bottom and failed,

The market got some disturbing news about some additional strength in the economy earlier in the week, and that's indicative of inflation rearing its head and the (U.S. Federal Reserve) tightening interest rates.

The market took off from where it finished last week which is dumping tech stocks because of concern about poor prospects for quarterly earnings. You had widespread selling focusing on the technology area (and) where we are right now is at, or very close to, a bottom.

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.

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.

The market has somewhat anticipated a half-point rate increase next week, so if they can see signs that the economy is slowing then the belief is that maybe the Fed will not have to do anything beyond the next meeting, and that maybe the worst of the rate raise is over.

The market is now focusing back on earnings. We're almost through the earnings season, but it's disappointing, so the markets are going to muddle around here. We still might make a moderate recovery high in the rally then we're going to go back into the trading range and get through the next couple of months.

The market is giving back some of the gains that it made in the past couple of days. The market is now overbought so we should expect to see it sell off,

The main sentiment is disbelief and anxiety for people who are leveraged.