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COMMENT
COMMENT
February 8, 2019
Market Outlook He thinks the US dollar is going to go a lot higher. The 2018 returns of Canadian investors benefited by about 7-8% he thinks, if you invested in US holdings. On US equities, he is cautious right now. After the big decline in December, he thinks it is a precursor of what is yet to come. 2019 will be a year of the Central Banks, who will have to maneuver to keep things going. This will make the equity market fraught with explosions and collapses. Last year the Trump tax incentive lead to massive earnings increases and he wonders how that can be followed.
General Market Comment
February 8, 2019
Market Outlook He thinks the US dollar is going to go a lot higher. The 2018 returns of Canadian investors benefited by about 7-8% he thinks, if you invested in US holdings. On US equities, he is cautious right now. After the big decline in December, he thinks it is a precursor of what is yet to come. 2019 will be a year of the Central Banks, who will have to maneuver to keep things going. This will make the equity market fraught with explosions and collapses. Last year the Trump tax incentive lead to massive earnings increases and he wonders how that can be followed.
Brian Acker, CA
Chief Executive Officer, President and Chief Inves, Acker Finley Inc.
COMMENT
COMMENT
February 8, 2019
Now is a logical point that the major markets should be pausing after pulling back from the TSX's and S&P's 200-day moving average yesterday. In a bull market trend, the 200-day moving average acts as a level of support where buyers take advantage of the dip and support the market for the next leg higher. We've been below the 200-day for over a month, so this level acts as resistance. Is this the final resistance? Who knows? We've had an impressive run-up since late-December of 16%. We've seen tremendous sentiment swings in the past year. December had the highest put-call ratio he's ever seen. Now, we're neutral with even split between the bulls and bears. The price of gold and REITs are still flying high. Trump won't meet China before the March 1 deadline. China wants something recipricol in this trade deal while Trump feels that the current trade situation favours China. He's not surprised to see caution among investors.
General Market Comment
February 8, 2019
Now is a logical point that the major markets should be pausing after pulling back from the TSX's and S&P's 200-day moving average yesterday. In a bull market trend, the 200-day moving average acts as a level of support where buyers take advantage of the dip and support the market for the next leg higher. We've been below the 200-day for over a month, so this level acts as resistance. Is this the final resistance? Who knows? We've had an impressive run-up since late-December of 16%. We've seen tremendous sentiment swings in the past year. December had the highest put-call ratio he's ever seen. Now, we're neutral with even split between the bulls and bears. The price of gold and REITs are still flying high. Trump won't meet China before the March 1 deadline. China wants something recipricol in this trade deal while Trump feels that the current trade situation favours China. He's not surprised to see caution among investors.
Jon Vialoux
Research Analyst, CastleMoore Inc.