I guess the sentiment picture that we've had in the last couple of weeks has been sufficiently negative to more or less push everyone to the sidelines. There's not a lot of volume in the markets. People are really sitting on their hands waiting to see what's going to happen tomorrow and Wednesday when the FOMC meets.
More Quotes from Rick Hutcheon:
It's been quite a bizarre market. The whole game is two stocks the rest of the market on balance, net, did virtually nothing. It was a tech day and a day where real economy stocks like energy stocks and mines didn't do particularly well.Rick Hutcheon
We've had a market that's been extraordinarily strong. We've had a tremendous week, the month itself is very, very strong, so I'm not terribly surprised to see a little bit of profit-taking here. Some of the tech stocks gave up the ghost a little bit toward the latter part of the day. Bell and Nortel kept us up today.
Rick Hutcheon
It's all CP today. There's a nice little gift for the folks that own CP. Unlock some of the conglomerate discounted value in those things.
Rick Hutcheon
We're absolutely in wait-and-see mode and if he doesn't cut tomorrow, hang on to your hats because we're going down big time.
Rick Hutcheon
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