32 Quotes by Elvis Picardo

With the mood of the market, people are going to be looking for stocks that haven't yet taken part in recovery and I think Nortel would be an obvious candidate because it's still fairly close to its lows.

This rally looks sustainable because the gains are smaller. It is not like you have a 250-point gain in one day, which is hard to keep up.

We might be seeing, after a long time, an ability to shake off bad news. That's what we need to see this market move higher.

October is a bad month anyway. Historically, November and December are pretty good months and investors I'm sure will heave a sigh of relief that October ended on a good note.

Maybe the summer doldrums are already setting in.

From here on, I think the market will focus on the fact that the easing cycle is going to come to an end pretty soon. Which means the Fed might be seeing a recovery in the economy early next year. Investors are going to want to be in a position that they'll be in the rally once this happens.

I think investors are asking why the Fed acted so quickly and so decisively.

It is a classic indicator of a bull market when stocks don't go down even on bad news. It is a positive thing for the short term.

I think the biggest impact today was the profit warnings coming out of the United States. We had some real heavyweights like Lucent, whose woes in particular brought Nortel down because they operate in the same market space.