Today was a reality check. Yesterday's rally was over-exuberant.
More Quotes from Irwin Michael:
I'm surprised that the market bounced back so quickly, I thought there might have been a little more pain before it moved back up. But it looks like (Tuesday) was transitory. There's no fear investors are still full of bravado. The perception is you just keep on buying the dips because they always come back.Irwin Michael
An incredible turnaround today, the market was down and dirty early this morning and it came back gradually.
Irwin Michael
It's very lethargic. It's individual stocks that are moving it. It's very, very quiet, I'm not seeing a lot of activity.
Irwin Michael
There's nervousness and people waiting maybe for another shoe to drop. It's not going according to (plan), most people had expected the market to be a little better. They expected a Santa Claus rally which was very muted this past year.
Irwin Michael
It's very choppy. Friday looked like it was the end of the world, Toronto was down a 150-odd points, and we've gained it all back today. The market continues to be very volatile, and it's testing people. On balance, people are nervous, you don't want to do anything terribly audacious.
Irwin Michael
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Based on Topics: Reality QuotesBased on Keywords: over-exuberant
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