My instincts developed over 35 years was late this week was a generational opportunity to pick up top Canadian bank stocks at absurdly low prices. I don't need an algo.
Dow low in place
- Thread starter padutrader
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My instincts developed over 35 years was late this week was a generational opportunity to pick up top Canadian bank stocks at absurdly low prices. I don't need an algo.
missed opportunity? Recommendations? Been wanting to start buying Canada but the returns have been somewhat lackluster.
It is like the everlasting gobstopper, isn't it.
Australian bank stocks are pretty good too if you want to venture that way.
remember markets hammer out a bottom
so never in any time frame enter when you see one bottom.....there will be more.
algo is for traders. not investors. and while each group thinks the other are 'nuts' investors make a lot more money than traders.
my fathers investment in a bank in 1994 was 100 000 bagger when I sold it 6 months back. yes 100 000 times his investment in 25 years
Previous generational opportunity was in Dec 2018
and I'm sure next 1-2 months we will have more and more generational opportunity
So many generational opportunities
No. Reminder that you were posting in 2010 that US markets would crash within 2 years and likely 6 months. Guys like you never learn.
Canadian market sold off to January 2013 level. Dividends and earnings much higher since, so on a valuation basis only February 2009 was better since the mid 1990s. Both banks up 17-18% in one day; I doubt they've done that more then a handful of times in our lifetime.
Extreme long term support on the TSX was in the 12000 area and the market got very close to that this week. That delimits risk on any buy. Last time I quoted a generational opportunity was in reference to February 2009.
Fools can listen to the financial media and jokers like you and miss out on the better buying opportunities.
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They bounce hard no question.
I say they will sell again at levels you bought in the next 2 months again
TSX maybe sold into 2013 because of junk energy. Banks sold off to December 2018.
I din't check them all but royal bank was at dec 2018 level
Overall TSX junk I was long TSX since bernanke implemented QE. Bought little lower than thursday level
Sold in disgust maybe 2-3 years ago at levels maybe above 20% above those on thursday (aand currency depreciated 30% )
and oops here we're again
canadian banks maybe double in that time but still totaly inferior performance comparing to US stocks especially currency adjusted
Now with zero interest rate they won't be able to generate profit like before. Expect negative earnings growth for the next years especially to those with heavy exposure to US like BMO
Maybe they will continue increase dividends with negative earnings growth then that's OK but definitely nothing generational
Very few US stocks have the low risk attributes right now of BMO and TD yet have a reasonable chance to go up 50% from Thursday's lows ( plus pay a 6% dividend ). And there is no doubt in my mind that they will revisit their ATHs at some point possibly much sooner then many people think. Americans might even profit as well from the sub 72 cent CDN$/US$ level that existed on Thursday am.
A generational opportunity is not based on past performance, it's a real time opportunity subject to existing market conditions. Your rant suggests you haven't done the work to understand exactly what occurred.