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COMMENT
May 13, 2020
Market Outlook The market is pessimistic following comments from the Fed yesterday about how long the market may take to recover, fiscally and monetarily. Add to that health experts views that re-opening the US economy may be challenged are causing a pause in the market. She has certain stocks that are defensive in nature. She is avoiding deeply cyclical sectors, like oil and gas. She likes companies that have strong balance sheets to better survive an economic down turn. Technology stocks have participated during this recent rally, but they are too expensive to buy into now. She would recommend waiting to buy in on a pullback.
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Market Outlook The market is pessimistic following comments from the Fed yesterday about how long the market may take to recover, fiscally and monetarily. Add to that health experts views that re-opening the US economy may be challenged are causing a pause in the market. She has certain stocks that are defensive in nature. She is avoiding deeply cyclical sectors, like oil and gas. She likes companies that have strong balance sheets to better survive an economic down turn. Technology stocks have participated during this recent rally, but they are too expensive to buy into now. She would recommend waiting to buy in on a pullback.
COMMENT
COMMENT
May 13, 2020
Time to step in? If your time horizon is less than 1-2 years, you should be staying out of stocks in general. Canadian banks index is down 24% relative to only 13% for the TSX. Bank credit loss provisions will increase and next earnings will reflect losses from April. You may want to begin establishing a position in stages to allow a further buy in on a further pullback. Then buy in chunks as you get a better sense of a recovery.
Show full opinionHide full opinion
Time to step in? If your time horizon is less than 1-2 years, you should be staying out of stocks in general. Canadian banks index is down 24% relative to only 13% for the TSX. Bank credit loss provisions will increase and next earnings will reflect losses from April. You may want to begin establishing a position in stages to allow a further buy in on a further pullback. Then buy in chunks as you get a better sense of a recovery.