Okay, so I know that technically we are not supposed to get excited about day to day moves in the market. In fact for those still in the early savings phase of life, lower stock prices are what you should rationally cheer for. The ideal scenario is low stock prices as you save money followed by soaring prices in retirement.
But anyhow even if it is not rational to get too excited by short term stock price increases it nevertheless always feels good.
Today we had Canadian Tire up 3.0%. I guess the negative analyst report that pushed it down 1.8% was now yesterday’s news.
Wells Fargo up 1.3%.
A little here and a little there, and no real big losers and it’s been adding up nicely so far this year.
I am considering buying some of the Claymore Oil Sands ETF , CLO on Toronto. This is listed in our Canadian ETF reference article. I don’t try to predict oil prices but the ETF has a reasonable trailing P/E and has declined in price significantly in the past two years. Almost down tot he 2009 lows… And also I rather like the idea of having some skin in the oils sands game.