People are still paying a lot of attention to the data. I would not say investors are being bearish. But they are taking profits when they can.
More Quotes from Elvis Picardo:
This has been a fairly volatile month for the TSX, and today is no exception.Elvis Picardo
That is a factor that has helped sentiment today. Canada is a prime target for many overseas buyers because we are so strong in energy and commodities, and the valuations are definitely lower than the U.S.
Elvis Picardo
Overall, the market is looking for some direction ahead of Cisco, which is going to affect the market greatly tomorrow. Investors are being cautious ... It's a wait and watch approach.
Elvis Picardo
This rally looks sustainable because the gains are smaller. It is not like you have a 250-point gain in one day, which is hard to keep up.
Elvis Picardo
This is just a normal, healthy bout of profit-taking. It's been a one-way street since the October lows and the index was up close to 20 per cent in that time.
Elvis Picardo
It's a little disappointing to see a down day on the last trading day of the year. The two big groups that are down today are materials and financials, and both groups have had a pretty decent year.
Elvis Picardo
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