Apparently the only way to determine where the TSX is headed on any given day is to keep quiet and wait for market close at 3:00 PM 'Peg time. Nothing else matters. I was looking through my Beer Goggles yesterday morning when I suggested that the bleeding may have stopped.
No matter how positive the signs were in the first hour of the trading day nothing mattered when US housing numbers came out in the afternoon. New housing starts...biggest drop in 27 years. This news put the whole US recovery story in question. If the US recovery falters, we don't stand a chance.
After the US housing news hit, the TSX turned south and managed an eighth straight day of decline.
As I write this, there is some overnight news which might tempt me to make a predictive suggestion about the day ahead. I'm not saying a thing!
No matter how positive the signs were in the first hour of the trading day nothing mattered when US housing numbers came out in the afternoon. New housing starts...biggest drop in 27 years. This news put the whole US recovery story in question. If the US recovery falters, we don't stand a chance.
After the US housing news hit, the TSX turned south and managed an eighth straight day of decline.
As I write this, there is some overnight news which might tempt me to make a predictive suggestion about the day ahead. I'm not saying a thing!
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