Markets are pulling back for many reasons.....
Pullback is happening after a HUGE 20% RUNUP in past 5 sessions.....
Economic news from Japan & US were not helpful either......
Most sectors are taking it on the chin today.....
Canadian politics is taking a huge toll on TSX as current Govt is being forced out by opposition with NO CONFIDENCE vote on Dec 8th.... TSX is down 712 points.....a drop of 7.7%....
All my ETF are down sharply......
OIL is down sharply..struggling below $50....
Let us hope that close is above LOWS of the day.....
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
ATL gas now $1.55 dropping, Yahoo! I'm gonna burn some rubber! Tire companies have reported severe drop in sales. So they are laying off and cutting production. Everything is tied to gasoline usage. Now that prices are cheap, cheap , cheap. People will start moving again. Results will not be felt until spring.
Best Regards
Hi Standards,
WOW....$1.55 is CHEAP gas....that was 4 years ago..when I was driving around in US.....
Canadian Gas prices ar $3.06 per US Gln.....also about 4 year LOW...
Saleem
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