I’m going to predict that we’re going up from here. Check out the insider buying vs. selling. It’s at the highest – most bullish – level this year.
Also found some interesting info on market seasonality which reinforces my belief that the market is going up, and will continue going up until at least April. Yes, despite all the negative sentiment.
And, I happen to know that at least one of the big Canadian banks will soon probably, possibly, … start promoting the natural resources (aluminum, nickel, oil, zinc, nat. gas and more). Theoretically this should be very good for those invested in mining companies. If a lot of new retail investors become interested, we may get some “fresh blood”, which is very needed at this point. Everyone has been focused on staples stocks in case of recession, and on the banks due to all the problems. Natural resources sort of lost their momentum with prices going down across the board on LME. Only oil, gold and silver are at the forefront.
I’m digesting everything I read about market seasonality and will post about it this week.