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mm
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New Post on billcara.com

The Trump Tax Plan in Brief

Lower 15% corporate tax rate Trump’s tax plan calls for slashing the federal income-tax rate to 15% for corporations, small businesses and partnerships of all sizes. It also imposes a one-time tax on about $2.6 trillion in earnings that US companies have tax sheltered overseas. Reduction of personal tax brackets from 7 to 3 The plan proposes condensing the existing seven income-tax rates to just three, cutting the.… [Read >>]

mm
Editor
New Post on billcara.com

Memories of Cuba

Perhaps fewer than 5% of non- Latino Americans are interested in travelling to Cuba, but there is so much for everybody to see and do. Pat and I spent 11 of the past 18 months there, almost all of it in Havana. Our many friends and our apartment will surely be missed. The 2 bedroom + 2 bathroom apartment with 9th floor sun-room overlooking the Malecon between the National Hotel and the US Embassy, about 3 blocks away and three blocks up Linea in the upscale community of Vedado will be leased.… [Read >>]

The Word
Member

Blue Skies ahead …
But what about the technicals? There is a line in the sand and it’s shown on the following Point and Figure chart:
http://stockcharts.com/freecharts/pnf.php?chart=$TSX,PWTADANRBO%5BPA%5D%5BD%5D%5BF1!3!!!2!20%5D&pref=G
The most important level right now is 15,100. A breal below that at 15,050 and this bull is over. But that can change because if we have more activity in the trading range, the bullish market line will go up every time…
There is no doubt that momentum is fading in the Canadian market, but patience is required before betting against this market IMHO

Ynot
Member
@JimG re: Home Capital Group. Classic, US-style, bear raid that reminds me of the Lehman Bros debacle. Its basically a bank run on their GIC deposits. They had over $2 billion over a year ago, and were down to about $800 million as announced yesterday morning (down from $1.4 billion in late March) with more deterioration expected. Some of my sources are telling me that their loan book is stable with near record low default rates, but who knows what to believe when things like this happen and unravel this quickly. They had (seemingly) survived a period of fraudulent mortgage… Read more »
mm
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New Post on billcara.com

Owen Williams: Report for week ending Apr. 28, 2017

Blue Skies Are Here Again. Financial markets are hitting on all cylinders this week as we are finally seeing coherence among risk assets. European and U.S. equities are gapping higher with numerous indexes hitting all-time records, government bond markets are resuming their tailspin as credit spreads tighten, the dollar index is falling, and gold…. [Read >>]

JimG
Member

A disaster in Canada..Home Capital Group Inc (HCG.TO) secures a 2 billion dollar line of credit with a non-refundable commitment fee of 100 million. Interest rate of 10 percent plus the commitment fee…

http://www.crossroadstoday.com/story/35251108/home-capital-announces-non-binding-agreement-in-principle-with-major-institutional-investor-for-credit-line-of-2-billion

JimG
Member

baz22… thank you for your response.

baz22
Member

Good morning, Jim… I did trade CYTR years ago, and at one time, had hopes,, However, the management, in my opinion, was questionable in certain areas. I would not mess with this price range.At this point in time, its there for a reason.. But, these only my thoughts. Others may disagree. Best of luck and trades.

JimG
Member
RE: “Note this morning from Owen Williams” $PEP at lifetime highs despite revenues well below 2012-2015 when stock miles lower. 23PE for zero growth & bulls assure me its rational… $PG revenues at 10yr lows ( as far back at Bloomy has data ) EPS dead flat for ages. 24PE and stock barely below record highs like its 1999… Lowest $BA revs in 3yrs> The stock was $130 back then…. $BAX race towards 30PE with massive plunge in revenues & EPS… $ROK @ 25PE with revenues that have been sideways for years and stock up almost 100% in last 15… Read more »
ballena
Member

My gdx leaps expiry in 2019, so I do not really mind whether gdx is up or down a few units from here. 18,5 is my stop and I will be acumulating on the whole way down there 😉 I generally prefer to buy in downwaves than upwaves when having a long term horizon.

However, an upward break of the 13xx usd/oz area for gold would be a major change in trend and I would be buying FOPs or futures on the metal itself. That would be short term.

Scott
Member

GLD’s RSI (7) is around 39
GDX’s RSI (7) is around 22.
Gold not yet “oversold”
GLD likes to bottom between 15 and 23 (although in last year’s strong bull run, it tended to bottom above 30). So it may be almost there.

Scott
Member

Maybe Gold falls another $25 or so to touch the trendline passing through the December and March lows, leaving it still in a healthy uptrend. Maybe during that time, the miners’ downward momentum slows a bit to allow gold to catch up, then both turn up in a week or so. Total speculation on my part, but keeping a watchful eye.

ballena
Member

I am scooping up another tranche of GDX leaps on the open today. Either gold will tank, or it is time for a rebound of the miners. Looks like the crystal ball of the miners is pricing in a break-down of MA200 and MA50. I think we will get a good indication by Friday, if miners or metal is right.

wpDiscuz

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