I'm optimistic that we can grind higher. I don't think we can sail higher, but we can grind higher, i think the reason we will is because as long as the market still thinks the Fed will raise rates that's a very positive signal for markets. John Stephenson More Quotes by John Stephenson More Quotes From John Stephenson No one believes they are going to raise four times from here. John Stephenson It's a story about oil, and then we're waiting for the Fed later this week. John Stephenson The big story is a pop back in energy, then (European Central Bank Governor) Mario Draghi was very positive on the likely actions of the ECB, so that was a big plus for markets, so as a result we have got a bit of relief in our otherwise downward trend. John Stephenson Now's a time to hold firm, i think it's getting close to the time to double down, if you will, on better bets, but I'd like to see truthfully more of a capitulation out there. John Stephenson As long as oil remains under pressure, which it looks like it will be for most of 2016, then we're going to see limited upside for the banks. John Stephenson I think the energy sector will continue to be weak. John Stephenson I think it would be great, there's little overlap in terms of footprint, i think it's potentially an attractive deal. John Stephenson The nagging sense is why are we hearing about this at the last minute and given that we're hearing about it at the last minute, what else aren't they telling us. John Stephenson The month has been marked by this very strong move on very little information, and the market is now digesting it and saying 'there's not a lot here'. John Stephenson Bay Street's preference is a conservative win as it maintains the status quo. Markets hate uncertainty. John Stephenson What we could see is pressure on the currency more than anything else. John Stephenson Until we see an indication that (global growth) is getting much worse, which would not be good for markets, or we see it getting much better, I think we're essential range bound. John Stephenson There's a listlessness out there, truthfully, until we see an indication that (global growth) is getting much worse, which would not be good for markets, or we see it getting much better, I think we're essential range bound. John Stephenson There's a listlessness out there, truthfully. There's really no identifiable catalyst, positively or negatively out there on the horizon. John Stephenson You would hope for a bit better snap back, but there's nothing on the growth front, so that's the big vexing question right now: where's the growth and when's it going to come? until we see an indication that (global growth) is getting much worse, which would not be good for markets, or we see it getting much better, I think we're essential range bound. John Stephenson Clearly several levers were working quite well. John Stephenson I think the forecast is for more unsettled weather to come. John Stephenson It's a relief rally, truthfully, earnings have been decent, so that's a plus. So you've got a little bit of a pick up in some of the commodities, though not much. You had Shanghai and the Asian markets up overseas. John Stephenson Volatility can be to the upside but I think it will probably be slightly to the downside this month because the constellation of news out there and the possible outcomes are probably more negative than positive. John Stephenson I actually think the day was pretty good all things considered. John Stephenson
