These (metals) companies are making more money than they have in the past 10 years, and they are lean and mean so any small turn in commodity prices falls right into the bottom line for these companies.
More Quotes from Peter Chandler:
The market is now focusing back on earnings. We're almost through the earnings season, but it's disappointing, so the markets are going to muddle around here. We still might make a moderate recovery high in the rally then we're going to go back into the trading range and get through the next couple of months.Peter Chandler
It's the push and pull between the good news and the bad news,
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
(Today) was quite speculative, quite frothy, you didn't have a lot of dramatic movement in any of the senior parts of the market today. If anything, some of them were selling off, for example Northern Telecom (now known as Nortel Networks),
Peter Chandler
What goes up will come down. Thinking about how much they've come up, these things are bound to see some profit-taking from time to time. It's not surprising that some of these stocks are pulling back a little bit.
Peter Chandler
The bad news being the lower earnings that are going to start coming out. The good news is most of the damage has been done in the market and it's trying to find a good bottom.
Peter Chandler
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