Month: March 2009

TSE , S&P , NASDAQ , DAX and NIKKEI

Hamilton

TSE March 24

spx march 24

Nasdaq march 24

DAX march24

Nikkei March 24

Here we have the whole lot. From TSE to S&P to Nasdaq and then overseas to DAX and Nikkei. All charts are similar but as you go down the list the idea of a triangle moves from a perfect fit to less likely in the case of the Nikkei. Anyway after yesterday it is clear that we are not going to get that little leg down that  would make it conclusive. Not that surprising seeing that just about everything looks like a buy. RY in the meantime is up almost $12 from the low just under $26, all of this in two weeks.

On the TSE we are entering a corrective up wave that typically retraces at least 38% (10400), often 50% (11250)  and or 68% (12135).  That does not mean that we might not first get a little pull back but for the time being one should try to be long. Some segments of the market are already up 20% or so, whereas others have not budged that much (Sherritt f.i.). By the way, BBD.B made the 30% sell point and so did BAC.

Your broker looks like this? March 19

Hamilton

idi amin

It is always difficult to assess whether or not your broker and you are a good fit. Today I had a long lunch with a potential client who asked me a few questions on this matter and here are just some of the many observations that are worth sharing.

1. If your broker looks like the guy in the photo get rid of him immediately. The reason is obvious, he is not wearing his Canadian Securities Course diploma on his chest -  the ONLY “academic” requirement to become a member of this elite group – without it he /she may not be fully qualified.

2.If your broker does not speak to you- as in communicate- and likewise you do not either there may just be a little incompatibility of your respective personalities, move on as life is too short to have to endure such a burden for too long.

3.“Life is nothing but a competition to be the criminal rather than the victim”,Bertrand Russell .  Brokers , being salesmen first and foremost, are always eager to oblige in the former role, leaving you with the latter one. This is not how it should be, both parties should get a fair deal, there should be a reasonable balance between performance/effort and cost however that might be measured. 

 

to be continued.

S&P Where we are today, March 19

Hamilton

S&P March 19

Today is a big day according to Martin Armstrong, I will not go into the details as you can Google this and make up your own mind. In my, I should say in E-wave terms this is also an important point. As I have said earlier , about 800 is very critical to the outlook as this is where “ overlap” would occur  if we were to go higher. Now overlap, on purely empirical evidence, cannot occur except in a diagonal (shown in green).  this is either going to happen or it is not and if it does happen we are going to go much higher (at least 1000) If not we first go lower to about 630 to get to the 61.8% down level and only then do we go higher.

Canada may be at the same spot;

TSE March 19

It already has a “little”overlap.

CDV Com Dev March 12

Hamilton

CDV

Com Dev has a very rare “ expanding diagonal triangle” 5th wave to a low. They are always 5th waves and the always return to the origin, in this case $3,90. Unfortunately  I did not see this earlier but still it is worth doing. The stock can go higher than the min. !

Comdev