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Today we have a taper dance and balloons!

Pre-open the futures were negative with Asian markets down and Europe still falling so what is to happen? Oil down and expected to continue and gold down still so that makes it hard to see Canada’s market move up; we expect a down day.

US Fed Chairman Ben’s taper talk scared some investors who are running from the market screaming that the party’s over! It’s just another routine professional panic but selling could continue for some time.

After a good many months of solid gains some typical profit taking can be expected. However what is going on is far more than that. Joining in such foolish selling behavior could get very expensive.

After the emotional negative behavior settles down, cooler heads will prevail and the outlook will become more positive. So stay put if you have positions in good companies.

Hang onto cash. Waiting a few days to put cash to work could dramatically improve returns. So sit on your hands and wait because the price movement of some great companies to lower prices is well underway.

Ben Bernanke continues to do a superb job in a very noisy and tumultuous environment. That will continue and the panic sellers will soon be gone so getting paid to wait continues to be a solid strategy.

Another factor, a Chinese credit balloon, could be entirely another matter. China has been slowing which has not concerned me until now. Slowing down from the unsustainable pace of recent years to merely blazing forward at 6 or 7% has not been a worry but, a credit ballon?. That could be serious. More information needed.

Amazing and dumb or don’t worry – we got it covered? Reports say the C-suite survey shows a seemingly complacent and out of touch attitude towards women’s issues and protecting customers from cyber threats. Or does it?

It can mean many of Canada‘s C-suites are incredibly out of touch with reality or in fact comfortable with preparations. I suspect both situations are well represented.

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One Response to Today we have a taper dance and balloons!

  1. Bryan June 28, 2013 at 2:35 am #

    This is the first reply.

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