Year: 2011

UTX, United technologies.

Hamilton

utx aug 2011

Less than a month ago, July 9th, I commented on UTX, prodded by an article in the Star by a prominent financial contributor (BC). The article seemed to me like one of those things that need to be done to meet the printing deadline. As far as I was concerned it was totally devoid of any real argument.

At the time the stock was at about $91. Today we hit $74 or down almost 19%. in less than a month! What is more disconcerting is that we actually have  “overlap”, at least in some degree. This excludes further advancement and $65 is starting to look pretty realistic, that is as a first stop.

SU, Suncor

Hamilton

SU AUG 2011

We have warned twice that Canada’s largest energy company would surprise a lot of analysts. En bloc they knew that oil could only go up and so, therefore, should all energy companies. Maybe too many people read that book about the world getting smaller, and maybe that will happen but not necessarily today. Today this stock lost about 5% of its value. $30 would be an interesting point but it should not stop there.

TSX, update

Hamilton

TSX aug 2011

We are down almost 2000 points on the TSX. The top was probable in April even if it is hard to tell. From there it looks like a series of 1-2s was made. At least 3 but perhaps 4 if we are now in wave 3. Today’s 460 points was big relative to what we had before and this is an indication that the “point of recognition” may not be that far away. Roughly that occurs somewhere close to the middle, which tentatively targets about 10,000. This is very tentative!!

HXD, Horizons Beta Pro 2X bear

Hamilton

hxd Aug 2011

We have urged people to but this ETF as a hedge if they hold stock. But after the lows in early April (where the HXD was the precise inverse of the HXU) we were a little but more excited about this ETF, even calling it top-pick. From an EW point of view these wiggles are very difficult to discern and count. A wild guess would be a series of 1-2,1-2s . This one could go a long way considering that it was as high as $40+.