On Friday, the S&P 500 was up 0.2% and Toronto was up 0.5%. Markets hit new highs.
Andrew Peller fell 3.0% despite what looked like a decent earnings report. These shares at $8.37 are cheaper than all but the very cheapest bottles of wine. Unfortunately it has not been a high return business. But they have good assets and the shares seem under-valued. Wine drinkers might want to buy some shares and follow the company just for interest and education and probable long-term upside.
Oil has fallen back to $67 but that is still quite profitable for most Canadian oil companies.
While there are always reasons to fear a decline, in general I don’t see much reason to expect a big pullback at all.