WMT should have entered a 3 wave down recently that could take it at least to 42 but almost certainly a lot lower. We did the initial 1-2 and now the fun should start for real. Stay short with puts.
Month: January 2009
RY update Jan21
Sofar so good. If I asked you where RY traded back in 2000 at the peak of the teck bubble I am sure very few people would come up even close, yet it is important in terms of making sensible judgements where the stock might go. Here is the cahrt in US$ and as the dollar was definitely not a constant over this time it is probable not all that far off from where it was in 2000, lets call it C$12. Here is the chart.
Despite the possibility that is is a good buy (as a trade)Â it is not necessarily cheap. $10 us or about 12 Canadian is still a real possibility.
RBC Dominion Securities Quant Research
With regard to my outlook on the TSE as of Jan !8, it is interesting that DS has just come out with an earnings report that expreses the view that the TSE could well drop to 6910, about 100 points away from the E-wave target. Ask your broker for the report.0
RY intraday Jan 20
This may just be it , right on the trend-line if I could draw it. Target tentatively at around $37.