One can't disregard the short-term effect of market psychology, and it looks like that's what was going on here today.
More Quotes from David Powell:
The wording was that monetary policy is still stimulative, which implies further rate hikes down the line. And this morning, when capacity utilization was released, that definitely augured well for another rate hike.David Powell
The irony is while we're driving more productivity and revenue by switching to broadband POS systems, we need to be far more careful about Internet vulnerabilities. It's a whole new ballgame building an IP network for hundreds of stores that needs to function even if a broadband connection is lost, and has to protect private customer and business information, not to mention facilitate the business of managing the entire network.
David Powell
Ultimately, any loss of child care could potentially be a crisis. We're always seeing a demand for it, especially with the economy being a factor in both parents needing to work.
David Powell
I think it was a day of market psychology taking over and looking at those crude prices, because there was nothing else to pay attention to.
David Powell
I think overnight there was another focus on the bank of Canada statement and it pushed aside the oil sell-off, as monetary policy is probably going to have a longer term role than oil.
David Powell
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I can see the humorous side of things and enjoy the fun when it comes; but look where I will, there seems to me always more sadness than joy in life.
Jerome K. Jerome