April 20, 2018 7:00 am Amsterdam time, 1:00 am eastern time

Thursday’s session saw the S&P 500 down 0.6% and Toronto down 0.5%.

Most of our stock picks were down including Toll Brothers down 3.7%, AutoCanada down 2.7% and Alimentation Couche-Tard down 1.6%.

Meanwhile American Express was up 7.6% after releasing earnings.

My strategy continues to be to add to some positions on dips and trim a little on gains. Yesterday I got notice that I had trimmed a bit of my TFI International at $34.50 based on an order I had placed some time earlier. In this way I sell at least some shares on rallies and buy others on dips. I don’t have any buy orders in at the moment but may place some especially if some others sell.

Statistics Canada reported investment in new housing for February. Given recent cooling in the home sale market and tightening in mortgage rates and rules it is a bit remarkable to read:

“Investment in new housing construction increased 9.5% from February 2017 to $4.5 billion in February.” However, this was driven entirely by multi-family investment as single family was down.