The outlook for Thursday was for stocks to perhaps dip in the morning and then move higher. This is what happened which allowed me to buy into the HXU ETF in the morning as I outlined in yesterday’s market direction outlook.
The rush back for the Toronto Stock Exchange has seen a climb in energy stocks of about 15 percent in the past two sessions despite oil prices not rising but instead moving lower again today by about 89 cents to $55.58 a barrel, however the “feeling” is that oil in general will not be seeing large declines again as most analysts feel the market has bottomed. Contrarian still think oil could fall to $45 or even $40 a barrel.
Here is my outlook heading into Dec 19 2014 for the TSX. This TSX market direction outlook and trade ideas is for Canada Members.
TSX Market Direction Outlook for Dec 19 2014
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