Wednesday, October 16, 2013

Market Timing is for Dummies

Every day I take a peak at the new 52-week high / low list in order to listen to what the market is telling me. At the close of October 15, Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank Of Commerce, National Bank of Canada, Royal Bank of Canada and the iShares CDN S&P/TSX Capped Financials Index Fund were all printing a new (and perhaps an all time high) 52-week high.

I also see some economy sensitive deep cyclical issues like ATS Automation Tooling Systems, GENIVAR Inc and Magna Intl, Inc at new 52-week highs. Clearly the 2009 - 20?? bull remains in place. Timing this market is for dummies and to bail out of good stocks in hope of buying back cheaper is a failed strategy.

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