There are just two trading days left in the year.
On Friday, the S&P 500 was up another 0.1% and I believe likely set yet another all time closing high. Toronto was down 0.1%
CRH Medical (see update just below) was down 3.3% in Toronto.
AutoCanada slipped 3.3% in what could be tax loss selling. It has been declining for about 5 years and remains far below its historic prices despite a significant rally in November that has since faded somewhat. The newer management has made significant progress on its turn around strategy and I like the chances for the stock to do well in 2020. But it is in an industry that is facing lower sales and is unpopular. Therefore management really has to do a great job and significantly outperform the industry in order to generate investor interest.
The great majority of market analysts seem to believe that the current stock market momentum will continue. It does feel that way. But let’s remember that at Christmas a year ago the markets had been pounding down and it felt like there was no limit to the downdraft. And then suddenly the updraft started and has continued almost without pause for a full year. Markets usually hold surprises.