April 11, 2018 6:10 am eastern

On Tuesday, the volatility continues with the S&P 500 up 1.7% and Toronto up 0.2%.

Oil (West Texas Intermediate) is at U.S. $65.68.

Most stocks on our list were up. BHP Billiton was particularly strong rising 4.85% for BBL American Depository Receipt on New York.

Alimentation Couche-Tard was down 2.1%. Someone asked me about that and I decided to add a little to my position. I think it is a high quality company for the long term. Some might argue that its big growth days are over. But so far, I have seen no indication that its growth ambitions have abated.

Regarding the Trans Mountain Pipeline:

The following is a link to a site dedicated to showing support for the project. There is a link at the top right that sends a message to politicians. Sometimes (almost always?) petitions are over the top but the message they are sending here looks reasonable to me – that is, please enforce the law and allow this already-approved pipeline to proceed.


Statistics Canada has released building permit data for February.


Single family permits fell 7% versus January (presumably, that is seasonally adjusted).

Alberta had a 47% surge in multi-family permits. That tends to be a volatile number. Still…

“Alberta reported an increase in every building component in February except for commercial and industrial structures. The residential sector rose by¬†20.5% to $838.9¬†million in February, primarily a result of higher construction intentions for multi-family dwellings.”

Amazingly, we will start to get Q1 reports in the next few days. The big U.S. banks seem to get their earnings reports out rapidly. That always impresses me because there has to be a massive amount of work to get the numbers together and the written materials and to check all those words and tables for mistakes. There are also loan loss estimates that must be very carefully considered.

I saw a bit of Mark Zuckerberg’s testimony yesterday. I thought he did well. In the few questions I heard he was usually interrupted in his response though as the Senators really want to make a speech as opposed to ask a question.