Comments on: Tech Talk for Tuesday November 3rd 2009

By: Peter

Peter — Wed, 04 Nov 2009 06:01:38 +0000

Hi Don
I notice that the US dollar chart has formed a Falling Wedge pattern.
Does this typically suggest a trend reversal if it breaches upper resistance?
If US$ rises, what are implications for Canadian stocks?

By: roy

roy — Wed, 04 Nov 2009 03:55:23 +0000

Hello Don
RIMM was downgraded to sell last week, yet it had a big day today. Does it mean it is oversold and time to get in on the CDN side?
Also, you mentioned that AGU has support at the 50 and 200 around 50 dollars, yet there is downside of about 6% in the markets, so is there a possibility that it could break through the 50 and the 200 on that much of a pullback and then those two levels would become resistance? Thanks.

By: Don Vialoux

Don Vialoux — Wed, 04 Nov 2009 02:18:10 +0000

Hi Mark. More on the gold/dollar swap. The IMF will receive U.S. Dollars. It already has pledged to distribute these dollars to developing nations that have been hurt by the recession. The distribution likely will be connected to a deal to be finalized at the Copenhagen climate conference.

By: Don Vialoux

Don Vialoux — Wed, 04 Nov 2009 02:12:42 +0000

Hi Mark. Street talk suggests that India bought the gold as a way to diversify its international exchange reserve. The way it will pay for the gold is to substitute existing Dollar reserves for the gold.

By: Don Vialoux

Don Vialoux — Wed, 04 Nov 2009 02:10:12 +0000

Hi SKS. Suncor held just above support on an interday basis in Canadian Dollars. Next possible support is at its 200 day moving average at $32.85.

By: Don Vialoux

Don Vialoux — Wed, 04 Nov 2009 02:08:28 +0000

Hi LLL. An update on the Technology sector is offered in tomorrow’s Tech Talk.

By: Don Vialoux

Don Vialoux — Wed, 04 Nov 2009 02:07:49 +0000

Hi Richard. Technical picture for Arcelor Mittal is mixed at best. The stock is trading near the bottom of a four month trading range. Strength relative to the S&P 500 Index has been neutral during the past four months. Short term momentum indicators are oversold.

By: Mark

Mark — Wed, 04 Nov 2009 01:21:54 +0000

Buy/selling in the next wave. I’d rather be the fly on the wall (small investor) then the big elephant in the room (Institutional Investors and Pension Fund Managers).

By: Mark

Mark — Wed, 04 Nov 2009 01:06:15 +0000

Now that India and possibly China have bought the 403 tons of Gold from the IMF, don’t you think that they will dump the US dollar?

By: SKS

SKS — Tue, 03 Nov 2009 23:12:44 +0000

Don, Suncor broke support today and closed at $34.95. Where is entry price for Suncor. Thanks.