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Globe and Mail Blog Post

Latest comment posted at 7:54 PM EDT 20/05/08

The TSX surged above 15,000 on Tuesday, largely on the strength of oil and gold producers, but assisted by a wide assortment of sectors ...Read the full article

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  1. Trevor Ouellette from Canada writes: TSX above 15,000 because of Gold and Oil producers? Oh, that sounds safe. Yikes!
  2. Albin Forone from Canada writes: Sadly, must ditto TO's comment. Canada is big Finance and big Resource: the former's bottom is only hopeful, the latter's bubble is still inflating.
  3. Eric B from Ottawa, Canada writes: I'm just waiting for that perfect moment to bet against the TSX (using ETF HXD, which gives 2% profit for every 1% drop in the TSX). To have our index at an all-time high at a time when the world's biggest economy & most important trading partner is in dire economic trouble and when inflation is about to force our central banks to raise rates to levels not seen since the early 80s -- 15 000 is not sustainable, at least not in the short-run.

    Look for it to slowly continue climbing under the moment when it comes crashing down, 10% a week for a couple of weeks....can't wait!!!
  4. Bill Tweezer from Canada writes: We need to bring that market back down folks time to vote in the Liberals.
  5. Ed Long from Canada writes: Eric B .... Don't take this personally, but as a very wise and wealthy older friend said to me, "You're not smart enough to time the market."
  6. boom boom from Canada writes: ditto Ed Long's comment.
  7. Albin Forone from Canada writes: It's one thing to "time" the market with a whole portfolio, another to hedge it. I'm hedging. HXD is not a bad way to short this global mess while hanging on to a "long" core bet on the world economy and Canada's place in it. I'm sure Eric knows that the new leveraged ETFs are tuned to daily returns, and some math is required to estimate long term holdings in them.

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