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.
More Quotes from Peter Chandler:
Nortel was above C130 a few weeks ago and went down to around C95, which was a healthy correction. It gained more than seven points today and the snap back is completely within reason,Peter Chandler
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.
Peter Chandler
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.
Peter Chandler
Buy on rumor, sell on news, ... The market had discounted it, so as soon as it was news the market sold off.
Peter Chandler
out from underneath Ma Bell's skirt, able to continue to expand and pursue their growth strategy without having a big mother looking over.
Peter Chandler
The main sentiment is disbelief and anxiety for people who are leveraged.
Peter Chandler
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