The U.S. Midterms tomorrow won't make a difference. The market is very high and tired. But if the Dems win the House (not Senate) will be a relief, because it'll stop Trump from doing dumb things. If the Republicans win, then Trump's tax cuts will go through. The markets will go up either way in a relief rally. But if the Dems win BOTH houses, then we'll have a real stalemate in Washington. Women of all stripes and ages are turning out to vote. This looks like bad news for the Republicans. Trade (US-China tensions) is an issue, but really the market is expensive. The fundamentals, including earnings, are slowing down or flat. We're not seeing big growth or whether that value is coming into the market. The market is carrying overvalued stocks which have lately come down. Markets simply get tired of carrying that load, then say, "Forget it."

It's been beaten up and now really cheap. He likes the very strong earnings forecast. His FMV forecasts 140% upside. This can go to $5 easily and perhaps $6.50. Do not sell now.

A few years ago, he was looking at BCE, which was right up against its FMV and not going anywhere, then sold off. Now, Telus is doing the same thing: the stock is bumbling along with stock forecasts heading nowhere. Telus is tired and will fall 20%, he thinks.

Where do you see the S&P 500 going? It's right between 2,550 and 3,100, a nice trading range. The S&P will stay here, unless there's a setback. He hopes there's more downside so he can buy stocks cheaper. October is traditionally bearish, and this one was. Powerful resistance on the way down and powerful support on the way

(A Top Pick Dec 05/17, Down 2%) The problem with US banks is they don't pay dividends. So, in a weak market, how would investors view these stocks? Vs. Canadian banks, the American ones are cheaper on a P/B basis. But American banks know how to find trouble like 10 years ago.

(A Top Pick Dec 05/17, Down 28%) He likes the gold stocks to hedge against stupid governments and central banks that support the market. The banks are driving the markets instead of reverse, so if the banks are tired of propping up the markets, then what happens?

The stock has done well, but outran its FMV and has fallen to a reasonable level. He'd wait till $2.50 before entering this stock. It's well-run. A little pricey now. It needs better earnings to support the price.

Can't believe how far down it's at now, at 30% discount to its book value. This has big, big upside. Has a $21 book value, which this could reach without breathing hard. Sometimes stocks sell-off irrationally.