MY JOURNAL FOR FRIDAY MORNING – NOVEMBER 8, 2019
NEWS, BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
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Stock Market Outlook for November 8, 2019 – EquityClock.com 📊
The strain in the defensive, often interest rate sensitive, sectors during Thursday’s session stemmed from the surge in yields in a continuation of the unwind of the strength in bond prices. The iShares 7-10 year treasury bond ETF was lower by eight-tenths of one percent; the 20+ year treasury bond ETF (TLT) was lower by 1.81%. Both broke levels of support presented by the September lows, confirming trends of lower-highs and lower-lows. This is a shift from the trend of higher-highs and higher-lows that has dominated the past year amidst concerns pertaining to the economy. The 20 and 50-day moving averages have been moving lower ever since the end of the period of seasonal strength for bonds at the beginning of October. Next hurdle for the two bond ETFs is their respective 200-day moving averages ($107.84 for IEF, $130.39 for TLT). We have been noting the parabolic trend in bond prices (and yields) to subscribers of our service for some time, suggesting that an unwind was inevitable, likely coinciding with the risk-on shift in equity markets. Given the significance of the inflows to risk-off trades over the past year, the unwind could still have room to go. Seasonally, investors tend to be cyclically focussed through the end of the year. – READ MORE (click here to see seasonal charts)
Tech Talk is a free stock market letter service available at TimingTheMarkets.com and EquityClock.com. Ask us about the Seasonal Advantage Portfolio.
5 from 5i: Asset allocation for those in their 20s – 5iResearch.ca 📝
Investors welcomed a surprise bounce in Chinese manufacturing activity globally. Canada and the US’s main indices’ futures saw a gain. Gold prices eased while oil rose. The Canadian dollar was 75.91 cents. U.S. S&P500 was up 0.9% this week and TSX was up 0.7%.
It was a mixed bag this week. Energy slid by 3.4%, followed by healthcare, which slid 1.9%. Industrials rose 1.8%, and materials and technology gained 0.7%, each. Suncor Energy reported third-quarter profit in line with estimates. Net profit, this quarter, fell to $1.04 billion from $1.82 billion last year. Solid quarter for Kinaxis as revenue and adj. EBITDA were up 29%, profit grew 70% to $4.5 million. The most heavily traded shares by volume were Pengrowth Energy Corp, Bombardier Inc, and Encana Corp.
5 from 5i
Here are five reads we found interesting last week: – READ MORE
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BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS 📈
Alaris Royalty (TSX:AD)
Ivanhoe Mines (TSX:IVN)
Xebec Adsorption (TSXV:XBC)
Protech Home Medical (TSXV:PTQ)
MOMENTUM ALERT SIGNALS 📡
Have a great day! 🙂
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