Goosed on renewed oil speculation and (in over view misplaced) ideas that Canada might decouple the global downturn and move the BOC to tighten interest rates soon, the Loonie has lifted again with the Euro/equity risk trade over the past 2 months. We saw similar short-lived moves with market peaks in both April and last August. A resumption of Euro troubles and disappointing economic data in September are likely to test the conviction of Loonie longs encore.
Source: Cory Venable, CMT Venable Park Investment Counsel Inc.
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Cory’s Chart Corner
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Remember that movie Empire Records when Renee Z finally gets up the courage to belt out “Sugar High”?
Maybe old BJB ought to dust off his vocal cords and ‘try, just a little bit harder’.
So true…..
“The stock market is demonstrably an “attractive nuisance” and should be closed immediately. It should never be reopened unless these conditions can be met: 1) All shares must be owned for at least four hours 2) All trading must be executed by humans on a transparent exchange where all trading activity (and open orders) is visible to all participants 3) Intervention in the market by the Federal Reserve or any Central State agency or agents is against the law.
If you insist on putting money at risk in the stock market, be aware that you are playing a rigged roulette wheel and thus you are a mark. You might win, or the entire game might collapse in a rotten heap of lies and corruption. Just remember that the market is ruled by parasites who need to keep their hosts (investors) alive so they can continue to feed off them (i.e. biotrophic parasites).
If the hosts all leave the market, the parasites will have only themselves to feed on, and they will quickly expire. ”
http://www.zerohedge.com/news/guest-post-stock-market-attractive-nuisance-and-should-be-closed