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[Merged] Another bloody red day on the TSX

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  • Sep 24th, 2022 1:50 am
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Deal Addict
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Jun 9, 2004
1113 posts
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[Merged] Another bloody red day on the TSX

Bummer, I guess the market can't go up for ever. There might be some good deals out there..
7436 replies
Sr. Member
Jun 18, 2003
710 posts
56 upvotes
no kidding, another 300 drop ! tomorrow will be critical ...
Member
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Sep 1, 2005
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FAQ wrote: no kidding, another 300 drop ! tomorrow will be critical ...
Why?

Remember, "...when The Street is scared, I get greedy..."
Deal Addict
Feb 7, 2006
2388 posts
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FAQ wrote: no kidding, another 300 drop ! tomorrow will be critical ...
Everyday is a "critical day"...what a stupid comment.
Banned
Jun 19, 2006
9349 posts
56 upvotes
Yeah I don't get it -- Encana demolished analysts' earnings estimates, oil is hovering in the $75/barrel range, interest rates are actually down from a few weeks ago, and retail sales have been hitting new records, and the Canadian market sells off.
Deal Expert
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Jun 9, 2003
25097 posts
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Markham, ON
didnt do too bad today on my personal trades

but...can't say that about my mutual funds tho.



I saw today as a good day to buy some cheapies...and there were lots ;)

(i sold off lots last week and waited for a week like this...)
Deal Expert
Aug 26, 2001
17942 posts
1504 upvotes
Richmond Hill, ON
yup did a bit of bargain hunting too. a particular dividend paying F.I. stock (won't say any further; rules) took a nice hit, so i was able to get into that one.

HOWEVER... i'm going to say that there is still room for further correction before the summer is out. anyone agree?
Sr. Member
Jun 18, 2003
710 posts
56 upvotes
winner2000 wrote: Everyday is a "critical day"...what a stupid comment.
exactly, what a stupid comment like this !
Deal Addict
Dec 3, 2003
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Toronto
pitz wrote: Yeah I don't get it -- Encana demolished analysts' earnings estimates, oil is hovering in the $75/barrel range, interest rates are actually down from a few weeks ago, and retail sales have been hitting new records, and the Canadian market sells off.
I am surprised you are not aware of the actual factors that are causing this selloff. :confused:

Without getting into it, the primary causes are due to circumstances occurring outside of Canada.
Keep on reading....
Deal Expert
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Jun 9, 2003
25097 posts
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Markham, ON
i had a penny stock today with an NR...worst day for a release.

Anyways...shot up a bit...and sold around the peak before it dropped mad.

made some but not as much on an average day on the TSX....(ie usually 50%+)
Banned
Jun 19, 2006
9349 posts
56 upvotes
controlyar wrote: I am surprised you are not aware of the actual factors that are causing this selloff. :confused:

Without getting into it, the primary causes are due to circumstances occurring outside of Canada.
Keep on reading....
Canada did well compared to a lot of other markets ;) . And in the whole scheme of things, the TSX is just a porcupine that is easily reducable to roadkill by the global freight train.
Deal Addict
Dec 3, 2003
1712 posts
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Toronto
pitz wrote: Canada did well compared to a lot of other markets ;) . And in the whole scheme of things, the TSX is just a porcupine that is easily reducable to roadkill by the global freight train.
Ding ding ding.
I like that metaphor. :lol:
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May 19, 2005
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What's that you say? Huge discount on stocks?
Some people just don't get that online forum posts shouldn't always be taken seriously.
Deal Expert
Aug 26, 2001
17942 posts
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Richmond Hill, ON
pitz wrote: And in the whole scheme of things, the TSX is just a porcupine that is easily reducable to roadkill by the global freight train.
that metaphor doesn't make me very confident about our markets...
Banned
Jun 19, 2006
9349 posts
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konfusion666 wrote: that metaphor doesn't make me very confident about our markets...
I wouldn't be too confident either...metaphor or not.

Look at that Lord that was found guilty of committing crimes on Canadian soil. Did the Canadian police or Canadian securities regulators file criminal charges? Nope. The Americans had to take him down.

Then there's the fiasco concerning Nortel. Bre-X, Livent, etc, etc. Lots of warnings on all of them, but the Canadian regulators did almost nothing to prosecute the culprits.

Basically, if a Canadian company doesn't present their numbers in US GAAP format, and if they don't submit themselves to the regulatory oversight of the SEC, then I refuse to buy. Canada's system of securities regulation is too fragmented and prone to political interferance to trust.
Member
Apr 11, 2007
286 posts
Advantage22 wrote: Why?

Remember, "...when The Street is scared, I get greedy..."
+1...

Tomorrow the TSX is sure to shoot up
Member
Apr 26, 2003
379 posts
7 upvotes
Vancouver
winner2000 wrote: Everyday is a "critical day"...what a stupid comment.
I don't think it's that stupid, actually. The market is highly dependent on mass psychology, and a third big drop in a row could scare people into selling. A few bad days in succession definitely get people talking. Once everyone feels that the market is heading down, it heads down...

Edit:
monty613 wrote: have you ever heard the expression "don't try to catch a falling knife"?
B0000rt wrote: Short short short!
See what I'm saying?
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Dec 22, 2005
3286 posts
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Ottawa
krazy wrote: +1...

Tomorrow the TSX is sure to shoot up
hope you loaded up on your canadian equity mutual funds :lol:

also - have you ever heard the expression "don't try to catch a falling knife"?
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Mar 5, 2006
2285 posts
konfusion666 wrote: that metaphor doesn't make me very confident about our markets...
The OSC turning a blind eye to rampant fraud and institutional manipulation on the TSX doesn't make me confident about it either but it's still better then the Vancouver exchange.

What pitz said.

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