Carl Christie has traded equities for close to half a century. Thirty-seven of those years were spent on the Toronto Stock Exchange trading floor as a market maker and professional trader. As the Chairman of the Professional Traders Association from it’s inception in 1987 until the TSX trading floor closure in 1997, he represented the trading floor by sitting on numerous TSX standing committees and trading rules committees. Since 1997 Mr. Christie has consulted with publicly traded companies in both an Investor Relations capacity and as a stock trading analyst.
This Week’s ECONOMIC CALENDAR: May 31, 2010
Monday
* The market is closed on Monday due to the Memorial Day holiday.
Tuesday
* April’s construction spending
* May’s Institute for Supply Management (ISM) manufacturing index
* Collective Brands Inc. (PSS)
* Shanda Interactive Entertainment Ltd. (SNDA) are scheduled [...]
Friday SUMMARY: May 28
Spain’s approval of new austerity measures spurred the markets higher early this morning, and then Fitch Ratings pointed to “Spain’s unemployment rate, the legacy of its construction boom, and its high level of indebtedness”, and also cited “the risk that economic growth will fall short of the government’s projections.” This negative message effectively negated any [...]
Healthy Stocks in Volatile Markets:
Almost all traders have found the current market environment extremely difficult to navigate. During the past three weeks we have experienced large overnight gaps in both directions and several wide-range intraday reversals. To some there is still the threat of a market crash. The bulls have had a difficult time, and despite the trend being [...]
Thursday, May 27 SUMMARY:
European debt worry played a large part in the stock market’s recent fall, so it was only fitting that the catalysts for today’s rally should come from overseas. China’s State Administration of Foreign Exchange (SAFE) dismissed rumors that the country is looking to unload its euro-zone bonds. Spain’s parliament approved an $18 billion [...]
Wednesday, May 26 SUMMARY
Upbeat economic data from the Commerce Department rallied the markets early in the session. First, the government said new-home sales skyrocketed nearly 15% in April, rallying to the loftiest level in nearly a year as buyers rushed to capitalize on an expiring tax credit. In addition, Uncle Sam announced that new orders for durable goods [...]
WHAT NOW?
Over the past month, it has been easy to assume that the selling is never going to let up, even temporarily. Support and resistance don’t seem to matter, moving averages don’t matter, and all anybody can talk about is how low it can go. However, you have to ask the important question: Is this [...]
Market Erases Early Losses:
North and South Korea had investors on edge, with the former country reportedly on combat alert as a dispute over a sunken warship heats up. Meanwhile, leaders across the pond noted the importance of widespread budget cuts to curtail sovereign deficits, fueling fears about a prolonged Continental crisis. A pair of disappointing housing reports added [...]
