On Wednesday, stocks experienced an impressive post-U.S. election pop. In the U.S., the Dow Jones Industrial Average, S&P 500 Index and Nasdaq Composite all rallied to record levels. The S&P/TSX Composite Index ended the day less than 1 per cent away from a record close.
On Tuesday, The Globe and Mail spoke with Mr. Mokhtari and discussed his current basket of momentum driven stocks. Another one is Sun Life that has a good backing from an interest rate perspective, has a good backing on a fundamental basis. They have their Investor Day that is coming up. It has the right technical backdrop as well as fundamental backdrop.) that are showing very strong relative strength and absolute price momentum. GFL Environmental is a smaller cap company that does have some positive catalysts from a fundamental perspective and that’s another good name.
Looking at your 30-year average returns for the month of November, 10 of the 11 sectors have positive returns. The only sector with a negative average return during the month is energy, which declined 1.7% on average. What type of returns might investors see in November and are you expecting to see a broad rally with many sectors participating? Can you make any predictions based on your screening?
Throughout the past call it two years, we’ve seen nothing but persistent downside pressure against 72 cents on the lower band, and every rally attempt to the topside has been truncated at a lower high. So, it is forming what is typically an element of more downside pressure.
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