Wednesday, October 1, 2008

Stock Market Comments October 1, 2008

I'm expecting the TSX Index (at 11715 today) to continue lower before this Bear Market has ended. POT (at $136.5) and RIM (at $71) are two of the key stocks on the index. They both appear to be set up to go at least somewhat lower before the ultimate lows are reached. As usual the timing of the lower lows is uncertain. Wait for it.

The US bailout plan, if approved, will not prevent this. At best it can only delay the inevitable for a short period of time and perhaps not even that.

I was visiting False Creek in Vancouver by boat not long ago and took this photo of the Science Center building.

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