TradeForGain.com

let’s discuss important aspects of trading such as discipline, money management, psychology, setups, etc.

TSX Sectors and Stocks

Today I will look at ‘weekly’ charts for some of the TSX stocks I track.

Banks

Most of the Canadian banks had a very nice run with NA, RY,  TD and BMO giving the best returns. CM is the laggard. Look at some charts below.

image

image

CM is the laggard – humm…. could this be a short soon?

image

Insurers

SLF and GWO best returns, MFC not so much. Returns are much smaller than the banks.

Railways

CNR then CP in returns.

image

image

Tech

RIM and CLS have delivered good returns since February. RIM looks poised for $100.

image

Telecom

Not looking good.

image

image

Oil

CNQ, PCA, SU and others delivered good results but it’s too volatile for me at this point, will stay out.

Cable Operators

RCI (Rogers) and Cogego (SJR) look like a buy to me.

image

image

Agri

POT and AGU are wait and see at this point, don’t like the violent sell off…

image

image

Utilities

Transalta (TA) – buy

image 

Gold

Buy TCK.B-TC, AEM-TC.

No Comments

2009/06/24-Market Review

Dow Jones closed poorly but volume was very low – my bias is to the upside right now.

image

Gold – beautiful reversal and took Gold stocks along.

image

image

image

Oil – Indecision, almost bearish – would stay away for now.

image

US Dollar – sometimes I don’t like when it’s too obvious but the US$ is looking weak.

image

Canadian Sectors Highlights

Consumer looking strong

image

image

Gold/Mining very strong

image

Utilities (Mentioned last time) solid breakout – strong name in this sector is Transalta (TA-TC)

image

image

 

Summary

  • Stocks could get some more upside over the next few days
  • Gold looking very bullish again
  • Oil looks exhausted
  • US Dollar could go for a quick bounce up but will likely resume the descent (only make sense to the USA).
  • Strong sectors are Gold/Mining, Consumer and Utilities… health care starting to show signs.
No Comments

Why some many day traders out there?

It’s called overnight risk….

image

No Comments

2009/06/21-Market Analysis

Dow Jones ($INDU) – indecision, not much to write here other than the big volume spike on Friday – where will that go? Next week will tell. We know: Trend is up.

image

Gold – Waiting for more upside?

image

Oil – Bearish indecision.

image 

US Dollar – Weekly chart shows more downside IMHO.

image

Canadian Sectors

Consumer Discretionary & Staples – Looking good, good spike on good volume.

image

image

Real State Index – Getting some traction.

image

Utilities – Bottom in place IMHO.

image

Energy and Financials – Looking ‘tired’.

image

image

Gold – Looks ready for more upside.

image

No Comments