Home >> Newswire >> 

Market Retesting the Bottom

Market Retesting the Bottom

Hi folks,

The last update we said we didn’t think it was over, even on that rally we thought it was a bit light, but we think we are closing in on the bottom this time.  We are going to re-test this old bottom which is very close and likely the selling will be done after US thanksgiving.  Right now all the leading stocks are under pressure and our cash positions have sat safely on the sidelines. We may begin to deploy a bit of capital if we have a successful bounce off the October lows.

The gap down today, hasn’t had any panic in it, but think a bit more fear and volatility and we will have ashed this out.

The leading stock in the world is arguably Amazon these days and it looks like the leader is attempting to break trend and move higher, this is a vote of confidence.

We will be looking for an intraday reversal in the near future.  Markets aren’t fun, but no surprises here.

Share on facebook
Share on twitter
Share on linkedin

The information contained herein has been provided for information purposes only.  The information has been drawn from sources believed to be reliable.  Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment.  The information does not provide financial, legal, tax or investment advice.  Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance.  This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document.  Wellington-Altus Private Wealth Inc. (WAPW) does not guarantee the accuracy or completeness of the information contained herein, nor does WAPW assume any liability for any loss that may result from the reliance by any person upon any such information or opinions.  Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances.  All insurance products and services are offered by life licensed advisors of Wellington-Altus insurance Inc. or other insurance companies separate from WAPW.  WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.