Comments on: Tech Talk for Wednesday October 28th 2009

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:20:06 +0000

Hi Dan L. Great question! The complete answer is found in Saturday’s Financial Post. For a sneak preview, check out comments on the seasonality of the S&P 500 Index and TSX Composite Index in the “Other Factors” section of Monday’s Tech Talk. The bottom line is “Stay tuned for a technical entry point”.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:15:38 +0000

Hi Maggie. Nice move by FNX Mining today (Thursday). Seasonal influences for base metal stocks such as FNX Mining turn positive at the end of October. The stock has a positive intermediate technical profile. Its 50 day moving average currently at $9.73 has been a reliable support level for the stock during the past eight months.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:10:36 +0000

Great comments, Fred. Stick to your discipline. Seasonal trades are lining up. Recent weakness comes at an opportune time. Watch for seasonal entry points based on short term technical signals.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:08:17 +0000

Hi Reza. Nice move by HBM today (Thursday). Seasonal influences start to turn positive for base metal stocks at the end of October. The stock currently has a positive intermediate technical profile. Use the low set during the past few days as a stop loss level.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:02:19 +0000

Hi HS. RIM on the TSX could fill the gap implying downside risk to $61 Cdn.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 01:01:15 +0000

Hi GregDS. COW’s period of seasonal strength ends at the end of December.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 00:54:06 +0000

Hi Eve. Nice bounce by G today (Thursday) from near its 200 day moving average. Short term momentum indicators are oversold and trying to bottom. Intermediate trend currently is down. The stock likely will need to build a base before regaining significant upside momentum.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 00:49:57 +0000

Hi MFR. Weakness in the Canadian Dollar caused it to slightly exceed Tech Talk’s short term downside risk target at 93 cents U.S. where the 50 day moving average exists. Next downside support is at 89.91. Intermediate trend remains up. Short term momentum indicators are oversold. Hap Sneddon offers additional comments in Friday’s Tech Talk.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 00:45:52 +0000

Hi Jay. Bay Street is looking for a solution to the currency risk issue for investors dealing with investments valued below $100,000. Stay tuned for more developments.

By: Don Vialoux

Don Vialoux — Fri, 30 Oct 2009 00:43:27 +0000

Hi Roy. Just confirming that the Agriculture sector recently has outperform the market (both the TSX Composite Index and the S&P 500 Index). Unfortunately outperforming the market when the market is moving lower is like kissing your sister. It may be pleasant, but not exciting. Investors holding Ag stocks and ETFs should continue to hold until near the end of the period of seasonal strength in December.