It's encouraging, it's great for today's trading play, but does this mean that oil has bottomed once and for all? Probably not, it's fairly oversold and we're getting a rebound that was overdue. Colin Cieszynski More Quotes by Colin Cieszynski More Quotes From Colin Cieszynski It is clear that the bears are pretty exhausted here and the bulls are starting to take over. Colin Cieszynski company-news It shows what happens when the commodity prices start turning around and some of the negativity starts going away. Colin Cieszynski company-news The breadth of the rally outside of resource sectors is also very strong and very encouraging. Colin Cieszynski company-news China had the big sell-off and that's kind of rolled through the rest of the markets around the world. Colin Cieszynski company-news Having a Hydro One heavyweight will help balance out the resource-heavy Canadian market. Colin Cieszynski mergers-acquisitions It was a consolidation day, the Street was basically digesting the big moves yesterday. Colin Cieszynski company-news There's enough to suggest that they are still on track to raise rates this year, but people are worried, 'If you're not raising rates, it must be really bad'. Colin Cieszynski company-news There's potential over the next month or so that we could see weakness in the markets while this sorts itself out. Colin Cieszynski company-news What interests me in Canada right now is some of these sectors outside of resources, the more traditional industrials and merchandising and consumers and things like that, because we are starting to see the lower loonie have a positive impact on other parts of the Canadian economy. Colin Cieszynski company-news We're a little bit early for bargain hunting. Colin Cieszynski company-news We are getting some defensive capital flows again and some of that is going back into gold, with people getting worried about economies in China and Japan and even in Europe, it's interesting because after materials, the next three sectors in terms of performance today on the TSX are healthcare, telecom and utilities, which are the defensive sectors. Colin Cieszynski company-news I think what we're seeing here is probably a bit of short-covering and bargain-hunting, just trading against the news, even though the results were disappointing, the stocks had been pretty solidly hammered already. I suspect there was already substantial disappointment already priced in. Colin Cieszynski company-news Surprisingly, Canadian stocks ... have held in reasonably well, durable goods orders have turned back around, the U.S. economy is strengthening, the Fed raising interest rates is back on. Even if it's not June, it may not be December either. Colin Cieszynski company-news Overall, stock markets are struggling here. Colin Cieszynski company-news U.S. retail sales disappointed, which is still continuing to raise questions about the health of the U.S. economy. Colin Cieszynski company-news It's a negative on the day. We'll probably continue to drift lower here, we are in a situation where the markets have had a massive rally for the last couple of years, and they are now digesting it. Colin Cieszynski company-news Given the gains we've seen lately, this is a normal trading correction. Colin Cieszynski company-news Canada is getting a nice boost from the rally we're getting in the crude oil price, the conditions for stock markets are looking pretty good. Colin Cieszynski company-news The TSX is holding up surprisingly well, given that crude oil is crashing, the question is, will it be able to hold on to these gains? Colin Cieszynski company-news Basically for Canada, we're seeing stocks dropping back pretty much in tandem with the pullback in U.S. stocks today ... It's not unusual to rally up to something like that and then pull back as people decide to take profits. Colin Cieszynski company-news
