On Monday when the TSX was closed the rest of the world markets came out smokin' and jumped 1 - 2%. Wouldn't you know it, when the TSX opened on Tuesday, commodities collapsed with gold seeing the largest single day drop in months and oil tanking by a couple of bucks. Three downward days to start the year for the TSX. The gold sell off slowed but the downward trend continues this morning. Oil, on the hand, has has been down and up like a hooker's drawers. An oil day trader's dream environment. Not my cup of tea.
Watch List
I've been watching Potash Corp. (POT) since the failed takeover attempt of the fall. The offer of $130.00 looks pretty lame now as Potash closed at $168.70 yesterday. I first mentioned Apple (AAPL:NY) on these pages back on March 10, 2010. The price that day...$223.00. The price yesterday...$333.73.
Things that make you scratch your head
I wonder about General Motors (GM:NY)...closed yesterday at $38.90 up $5.90 from the $33.00 IPO price of November...this is based on ???
Today...
is anybody's guess. Great Canadian employment data early this morning followed by disappointing US data ninety minutes later. Who knows?
Friday, January 7, 2011
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