Tumbling China stocks, higher than expected oil inventories and uncertainty in Greece contributed to another sell-off today in North American markets. The TSX shed 212 points or 1.45% as all the major sub-indices fell led by Financials (1.13%), Energy (2.19%) and Industrials (2.07%). The TSX is down 5% from one year ago and has lost 6.17% since the April 15 YTD high. Toronto volume was 7% lower than average but New York Volume was higher despite trading being halted for 3 1/2 hours.
Downside risk continues to outweigh upside potential. VectorVest guidance in the Views tab states, Prudent investors should remain on the sidelines.
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DISCLAIMER: The information contained in this Blog is for education and information purposes only. Example trades should not be considered as recommendations. There are risks involved in investing and only you know your financial situation, risk tolerance, financial goals and time horizon.
Presented by Stan Heller, Consultant, VectorVest Canada
