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September 12, 2019
Market. We are above the previous record TSX close. What we see in the last week is a rotation from growth stocks to more value stocks. We are going to see the TSX be a net beneficiary of that rotation. He loaded up on insurance but is lagging in banks. The S&P has a nice up and to right trend since 2017. He thinks we will see some new highs but it will also be carried by some different stocks. Copper is in a triangle formation. We have been in a down trend since 2011. Interest rates are at 2012 and 2016 lows. If we break these levels then maybe there is something negative but otherwise the path of least resistance is eventually higher for interest rates.
General Market Comment
September 12, 2019
Market. We are above the previous record TSX close. What we see in the last week is a rotation from growth stocks to more value stocks. We are going to see the TSX be a net beneficiary of that rotation. He loaded up on insurance but is lagging in banks. The S&P has a nice up and to right trend since 2017. He thinks we will see some new highs but it will also be carried by some different stocks. Copper is in a triangle formation. We have been in a down trend since 2011. Interest rates are at 2012 and 2016 lows. If we break these levels then maybe there is something negative but otherwise the path of least resistance is eventually higher for interest rates.
Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
PARTIAL BUY
PARTIAL BUY
September 12, 2019
Silver. He took some profit in precious metals a couple of weeks ago but now he is looking at Silver again. The risk/reward is probably pretty good. Buy a third of a position right now. This is a brand new move after years of heading downwards so there will be some to'ing and fro'ing to come.
General Market Comment
September 12, 2019
Silver. He took some profit in precious metals a couple of weeks ago but now he is looking at Silver again. The risk/reward is probably pretty good. Buy a third of a position right now. This is a brand new move after years of heading downwards so there will be some to'ing and fro'ing to come.
Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
HOLD
HOLD
September 12, 2019
US Bank Stocks. If they aren't making you money, then you can sell them. JPM-N has banged into resistance and then snuck above it. The breakout could be quite significant. Hang onto BAC-N also.
General Market Comment
September 12, 2019
US Bank Stocks. If they aren't making you money, then you can sell them. JPM-N has banged into resistance and then snuck above it. The breakout could be quite significant. Hang onto BAC-N also.
Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
COMMENT
COMMENT
September 12, 2019
European central banks easing again. Easier for banks to lend money over there. The US economy is a better place to be than in Europe. European growth is much more sluggish than US. Though US growth is slowing, it is still growing. Plus, the US consumer is healthier.
General Market Comment
September 12, 2019
European central banks easing again. Easier for banks to lend money over there. The US economy is a better place to be than in Europe. European growth is much more sluggish than US. Though US growth is slowing, it is still growing. Plus, the US consumer is healthier.
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
COMMENT
COMMENT
September 12, 2019
TSX flirted with a new high. Sentiment is more positive on trade. The US index is also within spitting distance of a new high. The market reacts positively or negatively, depending on trade news. Expect more volatility until things get resolved. Try to ignore all the noise. The US economy is not as strong as earlier, but the good thing for the US and Canada is that we're seeing consumer spending kick in.
General Market Comment
September 12, 2019
TSX flirted with a new high. Sentiment is more positive on trade. The US index is also within spitting distance of a new high. The market reacts positively or negatively, depending on trade news. Expect more volatility until things get resolved. Try to ignore all the noise. The US economy is not as strong as earlier, but the good thing for the US and Canada is that we're seeing consumer spending kick in.
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
COMMENT
COMMENT
September 12, 2019
Bond market's wild ride. It has whipsawed, but it has come back from last year. Conveys slower growth. Cash flow is coming into the US from elsewhere, because of negative interest rates abroad, and this drives down US bond yields.
General Market Comment
September 12, 2019
Bond market's wild ride. It has whipsawed, but it has come back from last year. Conveys slower growth. Cash flow is coming into the US from elsewhere, because of negative interest rates abroad, and this drives down US bond yields.
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
COMMENT
COMMENT
September 12, 2019
BOC saying we can go it alone on interest rates. Not sure we can do this, as Canada's economy is very tied to the US. BOC is aware of trade tensions. We've seen stronger than expected GDP number in Canada. Employment here is still pretty good.
General Market Comment
September 12, 2019
BOC saying we can go it alone on interest rates. Not sure we can do this, as Canada's economy is very tied to the US. BOC is aware of trade tensions. We've seen stronger than expected GDP number in Canada. Employment here is still pretty good.
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management