Tradable Lows in the Canadian Technology Sector Understanding market technicals becomes a very important tool when emotion takes over and price swings don’t make sense. This is especially true during times of uncertainty and periods of market volatility like we’re experiencing now. Many people consider technical analysis voodoo and refer to it as people drawing lines on a stock chart. Although the drawing lines part might be true, technical analysis is about documenting investors psychology. Resistance and support levels, trendlines, market breadth and the VIX (market volatility index) are all created by fear and greed (people’s emotions). My job as a chartist is to documentRead More →

Everybody Just Wants A Stock Pick This blog post was brought to my attention by one of our members. Since it fits our theme, I thought I would share – WallStJesus This may come across as a mini rant but allow me to spew some gospel here regarding something near and dear to me: traders focusing all their attention on stock-picks. And it doesn’t matter if those alerts are coming from a service, indicator or “Joe Schmoe” on Twitter. That’s what they crave, to the point that they overlook some really useful and quality resources that don’t offer the simplicity of alerts, but would actuallyRead More →

You may have notice last week there was no daily blog. In the market, there comes a time when the best thing to do is sit on your hands (do nothing). Most people invest to the long side only, I don’t want to temp readers with new long ideas when the market is falling out of bed. The power of having a systematic trading system is when the market rolls over your stop-loss orders are triggered, and cash builds in your account. This should be a given, not something that needs to be blogged or bragged about on social media. I see no justice inRead More →

Preview: What if I told you that as of June 28, 2017, essentially half way through the calendar year, only one sector out of ten (including REITs with Financials) was negative? What if I told you that out of those ten sectors, six of them had returned over 5% in the year-to-date period and three of those had returned in excess of 10% over the year-to-date period? With the TSX flat to slightly negative over the same period, you would likely call shenanigans, but it’s true. Only one sector is negative for the TSX in 2017 and due to its heavy weighting, it has beenRead More →

Canadian Banks at Inflection Point? While the TSX is building a Head and Shoulders top, the Canadian Banks appear to be at an inflection point. Why is this important? Because the Canadian Banks could be the straw that breaks the camels back. Below is a two hour chart of the TSX. The right shoulder has now made a second consecutive lower high, which is very concerning. The 15400 level is an important area for the chart to find support. A failure to close above 15400, and more importantly a failure to close above the March 14th low of 15370 would form a series of lowerRead More →

Is Uranium The Next Copper? The uranium market has been under pressure this year as the spot price of the commodity has dropped by almost half since the beginning of 2016. Last week the spot price of uranium closed at $18/lb. However, miners often lead the commodity higher. With Cameco (TSX:CCO) leading the surge, the rest of the pack appears to be following. The price action I’ve been noticing in uranium stocks are beginning to appear very similar to that of the copper stocks before their recent powerful surge to new 52 week highs. If you are a contrarian investor, the demand for uranium shouldRead More →

Canadian Cannabis Stocks Update #MMJ It’s been about a month since my last post and there has been a ton of craziness that has happened since the then.  I’m sure at this point anyone who is reading this has been invested in the space or has been at the very least following it.  Below is a table showing the share prices of the stocks I follow most closely and the dates of my “articles”: As you can see once again these stocks had huge gains in a month with Canopy being the clear leader of the pack being up 133% since my last article. TheRead More →