August 9, 2017 8:50 am eastern

On Tuesday, the S&P 500 was down 0.2% while Toronto was flat

Linamar was up 2% after another auto parts maker reported strong results.

CRH Medical was down another 7% in Toronto and 10% in U.S.A. trading. At this point it is likely going down simply because it has gone down. Some owners simply capitulate. I could be wrong, but as a company with substantial positive cash flow and that was recently able to substantially increase its credit line at the low rate of 3.25%, I do not see this as a company that is in danger of running into any financial difficulty. I fully expect some recovery here. But it may take quite a while as investors have been badly burned. Analysts too, feel burned. Insiders have stock options some of which will not pay off unless there is a very substantial recovery. The next announcement of an acquisition could push the stock higher. I have sent a lengthy list of questions to the company and they will get back to me this week. In what may be an act of stubbornness, I added to my position once again.

In better news, Canadian Western Bank was up 1.3% to $29.38. It had bottomed out at $23.68 just a couple months ago during the Home Capital panic. It’s all-time high is a bit over $40 and its history suggests it will surpass that level again. CWB has not reported a loss in any quarter in over 25 years. Banks however are highly leveraged and so they are certainly not without risk.

Melcor is scheduled to release earnings after the close today.

Stantec has reported relatively strong earnings this morning.