After peaking on March 4 at 14,252 the TSX tumbled for seven consecutive days down to yesterday's close of 13,546. A fall off just shy of 5%.
Maybe, just maybe the market has come to it's senses today. Forty-five minutes into the trading day and the TSX is up 80 points. Heres hopin'.
My stuff is doing okay today...except for the banks. Seems the financials are down because Manulife has a very large presence in Asia. Obviously Manulife will suffer considerable losses with all the deaths and injuries in Japan. Not sure why that's dragging down the BIG 5 after just turning in record breaking Q1 results.
Us oil inventories just out. Oil up a bit more than expected, big draw down in gasoline inventories. Oil just jumped a couple of bucks and the TSX is now up 108 points. (9:35 AM 'Peg time)
Watch List
I'm still keeping an eye on Teck Resources (TCK-B). I'd love to get some at the present level but have no liquidity in my trading account and nothing that I care to sell at the present levels. I've been watching Dollarama (DOL) since the IPO. Interesting story but I have trouble understanding the P/E ratio of 18.4 when the much more mature Shoppers Drug Mart has a P/E ratio of 14.5. I'll watch it for another quarter or two.
Maybe, just maybe the market has come to it's senses today. Forty-five minutes into the trading day and the TSX is up 80 points. Heres hopin'.
My stuff is doing okay today...except for the banks. Seems the financials are down because Manulife has a very large presence in Asia. Obviously Manulife will suffer considerable losses with all the deaths and injuries in Japan. Not sure why that's dragging down the BIG 5 after just turning in record breaking Q1 results.
Us oil inventories just out. Oil up a bit more than expected, big draw down in gasoline inventories. Oil just jumped a couple of bucks and the TSX is now up 108 points. (9:35 AM 'Peg time)
Watch List
I'm still keeping an eye on Teck Resources (TCK-B). I'd love to get some at the present level but have no liquidity in my trading account and nothing that I care to sell at the present levels. I've been watching Dollarama (DOL) since the IPO. Interesting story but I have trouble understanding the P/E ratio of 18.4 when the much more mature Shoppers Drug Mart has a P/E ratio of 14.5. I'll watch it for another quarter or two.
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