Quotes from the news wire:
This is a time to be fairly cautious.
In terms of the quarter, it's been a bit of a rollercoaster ride.
People are still looking for places where they can find yield and you can find fairly good yield in the financial sector.
There's a certain amount of short-covering that's going on that's helping to drive the market.
At some point, we're likely to see a turn in the commodity and energy sectors, and even barring that I think that we may see some positive results in some of the financials if interest rates start going up.
Those stocks have been particularly hard hit in the last little while, i don't think you can read too much into one day with a bit of a reversal here.
In the long run, this is going to be a good thing for the companies that have the wherewithal to survive this.
We're in a frustrating period, certainly there's a lot of unknowns.
Within this environment, it's opening a lot of opportunities for investors.
A correction is never easy.
We wouldn't recommend anybody rush in and just buy, buy, buy, but if you've been watching the market for some time here and looking for some particular stocks...this is the beginning of the opportunity.
What we're into here is a bit of a malaise as concerns build about the economy in Canada ... and the state of the global commodities.
It's pretty hard not to be concerned when you see what's happening with the usual culprits, between Europe and the meltdown in China, oil prices where they are and the fact that there's a possibility we could be in a technical recession in Canada.
In general, materials have not participated with the broader market in the last while. We may be seeing some of the money coming out of other sectors going into materials.
Valuations have been somewhat stretched and we wouldn't be surprised to see a correction somewhere along the way here.
This is one of those geopolitical events that are pretty hard to read.
Fear of an imminent interest rate hike appears to be dissipating, but the prospect of one seems to have created greater volatility in the market, we are in a rather uncertain period.
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