The TSX has finished lower each of the last four trading sessions. In those four days, three weeks worth of gains have been wiped out. Is the rally over as investors begin to take their profits?
While stock markets have increased over the last few months on signs of economic recovery, we may have reached a point where investors need substantial proof that we are heading out of the recession.
While I do not believe in trying to “time the market”, I have been hoping for a slight correction in the TSX. I will be starting my own Smith Manoeuvre and would benefit from lower stock prices, which in turn provide a better dividend yield.
What are you opinions? Will the TSX gain more ground or continue to slide?
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Tom Drake is the owner and head writer of Canadian Finance Blog.
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Will the market go up or down? Ah yes, a question for the ages…
I certainly don’t know, and I think that anyone who thinks they know is a fool.
The only question to ask yourself is, how can you invest your money so that you don’t care what the market does?
If the government will manage this effectively then it will go up. If not, then we it will slide. But I am pretty confident that there is no way but up for us.