Investing

[Merged] Another bloody red day on the TSX

  • Last Updated:
  • Feb 21st, 2018 6:17 pm
Deal Expert
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Sep 19, 2004
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Waterloo
TSX -31 (-0.2%), so that's 8 RED days out of last 9 sessions, wow. YTD -8%

SPY YTD -3%

US had a WILD day and WILD week
For the week, Dow down 5.2%, S&P down 5.2%, Nasdaq down 5.1%

At the close
Dow +1.41% to 24,196.50. S&P +1.5% to 2,619.92. Nasdaq +1.44% to 6,874.18.
Treasurys: 30-year -0.37%. 10-yr -0.07%. 5-yr +0.01%.
Commodities: Crude -3.19% to $59.20. Gold -0.2% to $1,316.40.
Currencies: Euro -0.03% vs. dollar. Yen +0.04%. Pound +0.65%.
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Deal Addict
Jul 30, 2015
1348 posts
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Toronto, ON
Mike15 wrote:
Feb 9th, 2018 3:08 pm
Worth noting January is also when Christmas seasonal part-time jobs always end, every year, so there's that. The minimum wage change can't have helped either though.

As always, for the truly curious, there's a lot more data in the actual Labour Force Survey than the summaries in the news,

http://www.statcan.gc.ca/daily-quotidie ... 9a-eng.htm

The data tables are enough to choke a horse. Here's one on part time workers by reasons given for part-time work:
http://www5.statcan.gc.ca/cansim/a26?la ... able&csid=
Here's one on actual hours worked:
http://www5.statcan.gc.ca/cansim/a26?la ... able&csid=

So it looks like total hours work did drop... though the biggest chunk looks to be among people who worked high hours between all jobs (so people who had part-time seasonal jobs on top of other work?).
The data should be seasonally adjusted.
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Oct 26, 2003
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Chance7652 wrote:
Feb 9th, 2018 1:49 pm
Well its a 3.5% better price than last week. Very hard to say where its going to go from here.
thought someone here might know technical analysis and chart reading who can comment. what i gathered from the comments here is that now is a good time to buy.
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Apr 27, 2015
225 posts
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Another day ... SPY is +1.5%, TSX is -0.3% :( ...Looks like SPY should be 2%+ up, so TSX can crawl to positive territory :(.
I was for long time bearish on Canada, esp after Liberals took the office, but didn't expect such terrible performance...
Is Canada economic so extremely bad?
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Sep 19, 2004
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gibor365365 wrote:
Feb 9th, 2018 6:02 pm
Another day ... SPY is +1.5%, TSX is -0.3% :( ...Looks like SPY should be 2%+ up, so TSX can crawl to positive territory :(.
I was for long time bearish on Canada, esp after Liberals took the office, but didn't expect such terrible performance...
Is Canada economic so extremely bad?
It's not, but who says Strong economy = strong stock market?

but nothing matters for TSX at this point - too many bearish views on oil, pipeline constraints, liberal gov't, and why invest here when you have USA/Europe/E.M. performing better (in good and bad days) than us?
Even us local Canadians don't want to
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Deal Guru
Jun 26, 2011
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Markham
jerryhung wrote:
Feb 9th, 2018 6:53 pm
It's not, but who says Strong economy = strong stock market?

but nothing matters for TSX at this point - too many bearish views on oil, pipeline constraints, liberal gov't, and why invest here when you have USA/Europe/E.M. performing better (in good and bad days) than us?
Even us local Canadians don't want to
Bingo. Blame our governments for making Canada bad for business.
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Jan 27, 2006
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divx wrote:
Feb 9th, 2018 5:41 pm
thought someone here might know technical analysis and chart reading who can comment. what i gathered from the comments here is that now is a good time to buy.
Unless you think there will be an attack from zombies soon, yes, this is a good opportunity to buy. :)
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Sep 19, 2004
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After Globe, now it's CBC's turn

Why the Canadian stock market is performing so poorly compared to the U.S. market - Business - CBC News
http://www.cbc.ca/news/business/canada- ... -1.4526473
The week's gut wrenching volatility on stock markets tell us two important things. First, that over a year or more, most stocks are still performing incredibly well. Second, that Canada's stock market looks awful when compared to U.S. benchmarks like the Dow Jones or the S&P 500.
and BNN

https://www.bnn.ca/john-hood-s-top-pick ... D=18841778
In Canada however, I’m not enthusiastic other than for the banks; in fact, I sold about 15 per cent of my Canadian ETFs last week and I’m positioned to sell more. I simply see better growth opportunities in global developed markets and, to a degree, in emerging markets.

Unlike the U.S., which slashed corporate taxes and is accelerating deregulation, Canada’s regulatory system is out of control and business is under constant threat of tax increases. Hopefully the measures announced today to expedite the pipeline approvals will have teeth, but despite Natural Resources Minister Jim Carr’s strong assertions about the prominence of federal over provincial regulatory regimes, I remain skeptical of the government’s commitment to developing Canadian energy resources.
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TSX 10 year chart is just awful. Investors are taking their money elsewhere including myself. Only keeping banks, utilities, pipes and telcos. Will keep some index as tax consequences would be too high to fully dump this garbage
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Dec 27, 2006
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RolandCouch wrote:
Feb 9th, 2018 7:27 pm
Bingo. Blame our governments for making Canada bad for business.
Blame the constituents who elected our gvmnts that make Canada bad for business.
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Jun 26, 2011
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max88 wrote:
Feb 9th, 2018 8:18 pm
Blame the constituents who elected our gvmnts that make Canada bad for business.
Sure...and those who don't vote at all. But it's a huge problem when you have someone campaign on "x" defecits and triple or more their projections as soon as elected...and most ppl don't bat an eye
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Nov 22, 2004
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Hope you guys are faring fine. I've been sitting in cash for the last month or so because something about the market movement seemed off. This week was crazy. I want to think that I could have made some money on some trades but given the wild swings, it's all a coin-toss. Still waiting on the sidelines for now.
Heatware: 9-0-0
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