For FullyInformed members here is the Market Direction Outlook for the Toronto Stock Exchange for Tuesday Oct 6 2015.
The outlook for Monday was for the TSX to be weak in the morning but close positive in the afternoon. Instead, the market was strong all day with a positive close of 212.46 points for a gain of 1.59%. All sectors except health care rose with the energy sector up 4.5 percent but Suncor Stock lower by 2.18%. Suncor is making a hostile bid for Canadian Oil Sands (COS) which couldn’t be timed better as the stock is badly depressed and on October 2 it traded for a low of $6.03. The stock jumped 55.09% to $9.60 on the news of a hostile bid attempt. Valeant Pharmaceuticals International Stock (VRX) which many analysts now complain was overbought and overvalued, fell back $26.52 today for more losses, this time 11.07%. Now down to $213.10 Valeant Pharmaceuticals International Stock is down $134.74 points for a loss of 38.7% of its stock value. Considering that the all-time high was set on August 6, the collapse of the stock in such a short period is stunning……….the rest of this article is for FullyInformed members.
TSX Market Direction Outlook for Oct 6 2015
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