- The S&P 600 is down by 0.09% & TSX20 up by 0.56%
- The Canadian 10-year bond up by 0.02% and the US 10-year bond down by 0.04%
Below is a great article that was written by Vishal Toora where he talks about the recent move in Gold and where he thinks the market will be: Gold Short Trade Idea Hits our Target! Now at a Major Buy Support Zone!
“One of my most unpopular trade idea with followers has been my Gold and Silver short. The Gold crowd is really passionate about the metal, but I stress that I am still bullish medium to long term on both Gold and Silver. People forget that Gold has made an incredible move this year and was due for a pullback. The first rule of market structure: nothing moves up or down in a straight line.”
– Vishal Toora
Friday’s market movers
Investors should be aware that when they invest in the small-cap industry they are exposed to more market risk; this should not be seen as a reason not to buy the common stock of these businesses but as an indication that there is great potential to make great buying choices and accumulate wealth.
The saying goes on Wall Street:
“To gain higher returns the investor should take on more calculated risk”
How true this is depending on the person asked, but most would agree. The Small Caps this week did well for their shareholders, the top gainers increased in value on average by about 110% & the “losers” lost about 27% for the day. This shows the “bullish” sentiment going into the end of the week in the Canadian market.
Economic data points
- Non-Farm Payrolls NOV on Friday, December 04, 2020
- Core USA Inflation Rate YoY NOV on Thursday, December 10, 2020
- Canadian Inflation Rate YoY NOV on Wednesday, December 16, 2020
- USA Retail Sales MoM NOV on Wednesday, December 16, 2020
Earnings
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, and internationally.
Scotia’s earnings per share in 2019 were $6.68 per share and analysts forecast their earnings for the full fiscal year are expected to be 5.19 per share. This contraction in earnings is in line with the lackluster performance of the investment portfolios and the loan portfolio of the large Canadian banks due to the pandemic and economic slowdown. The stock has been lagging behind and is down 11% year to date and closed today at 64 up 0.015% for the day.
Royal Bank Of Canada provides various banking products and services in Canada, the United States, and internationally.
Royal Bank Of Canada earnings per share in 2019 were $8.75 per share and analysts forecast their earnings for the full fiscal year are expected to be 7.60 per share. This contraction in earnings is in line with the lackluster performance of the investment portfolios and the loan portfolio of the large Canadian banks due to the pandemic and economic slowdown. The stock has been tearing up the market and is up 4.5% year to date and closed today at 108 down 0.083% for the day.
Toronto-Dominion Bank provides various banking products and services in Canada, the United States, and internationally
Toronto-Dominion Bank earnings per share in 2019 were $6.25 per share and analysts forecast their earnings for the full fiscal year are expected to be 5.99 per share. This contraction in earnings is in line with the lackluster performance of the investment portfolios and the loan portfolio of the large Canadian banks due to the pandemic and economic slowdown. The stock is down 3.4% year to date and closed today at 70 down 0.014% for the day.
Equity.guru reads
Awalé Resources (ARIC.V) sizes up resource/discovery potential at Odienné project, Cote d’Ivoire, West Africa BY GREG NOLAN
Fremont Gold (FRE.V) gets green-light to drill in Nevada’s gold mecca BY LUKAS KANE
Oil: The Real Covid Vaccine Play? $50.00 a Barrel Target! BY VISHAL TOORA
Recent Equity.guru videos
https://www.youtube.com/watch?v=WMdv1rO2HQo
https://www.youtube.com/watch?v=aiph3adwe6k
The reality of the beauty contest that is the stock market is that if every stock is somebodies’ favorite, then every price should be viewed with skepticism even those that may seem like risk-free investments.
HAPPY HUNTING!
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