24 Quotes by 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.

My guess is the action of the Fed was pretty much discounted by the market already.

Now you've got the herd mentality rushing to the fore. This whole thing is nothing more than a reality check: it's a warning shot across the bow of the tech sector. The day traders and the tech-heavy investors, I think, are a little scared right now.

I would characterize this as a profit-taking session.

We're in the process of grinding out a bit of a bottom here. But it's a rotational market and the guys that are playing the last cycle by running in and buying the techs and so forth are ultimately going to be disappointed.

I would think that that stock would be held in a lot of index-type accounts that probably can't own a lot more American paper than they already do.

We're up today because of the Iran (tensions) and therefore the price of gold and oil is driving our market. It's the natural resource complex that is once again driving the Canadian market.

We're out of RRSP season now and that's going to dry up a lot of flows.

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.