Posthaste: Millions of Canadians are losing confidence in the stock market and plan to cash out

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But if U.S. stocks had it bad, the S&P/TSX compsoite had it worse. Canada’s main stock index posted its biggest drop in more than three months Friday as oil prices fell. For the week, the index lost 4.7 per cent and has fallen about 16 per cent from its record closing high in March.“These are uncharted waters,” Sam Stovall, chief investment strategist at CFRA Research, told Reuters. “The market right now is going through a crisis of confidence.

Almost half of those polled about their investment plans, 41 per cent, are sticking with the market, planning to buy and hold for the long term. But 74 per cent are not convinced that they will make a profit on their investments this year.Article content Pessimism is far from just a Canadian phenomenon. According to the strategists at BofA Global Research, investor sentiment is “unquestionably” the worst since the global financial crisis, with its bull and bear indicator returning to its maximum level of bearishness.

rexglacer financialpost Sounds like a plan as we lose our retirement savings. Worked 45 years scraped and save and poof it's gone. Millionaires don't worry.

financialpost If true I will be borrowing my ass off on opportunities.

financialpost Bottom is in. The sell your stuff cheap articles are out.

financialpost And once again another market cycle begins.

vincent59_p financialpost WTF took you so long...

financialpost Now that interest rates are up there are bonds worth investing in I guess. Which is one explanation why people are selling stocks.

joecanadian9991 financialpost Just one more Trudeaupian failure

financialpost Sheep. Don't follow the sheep

financialpost How to lose money: Cash out at the bottom of the market, and then invest in deposit certificates with a return rate about half the inflation rate.

financialpost The Canadian stock market is particularly rancid. Nothing on it worth owning anyway, at least for as long as the anti-business zealots are still in power. TrudeauMustGo

financialpost And yet..like the oft discussed fabled Democrat wave moving to Canada....the TSX will carry on. Slow news day?

financialpost When something like that comes out, you know that's the wrong thing to do.

financialpost Short of total economic collapse, once we hit the bottom here people have an opportunity to invest and maybe see some great returns. Of course it will be tricky to know when to buy.

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