March 29, 2021

Markets were moderately negative on Monday as the S&P 500 was down 0.1% and Toronto was down 0.2%.

Toll Brothers continues to bounce up and down adn today was down 4.0%.

RIWI was down 7.3%. 

But Couche-Tard showed some strength with a 3.7% gain.

I sold my Alcanna shares. I’m certainly not sure that was a good move. The stock looked somewhat over-valued in my update yesterday. On the other hand they have a lot of cash on hand and could reinstate a dividends which would push the price up. I’ve been inclined to build cash and partly for that reason, I took my profit on this one. It’s future results on the Cannabis side are also a big unknown as it builds out stores.

After the close, West Fraser Timber posted an update about its production capacity increasing at two plants. That’s positive. They also announced a “shelf prospectus allowing them to issue shares and/or debt. I don’t know if that should be taken as a negative or a positive. It was not clear if they actually have any immediate plans to issue shares.

One thing the market may attention to now is the progress on President’s Biden’s massive¬† infrastructure spending program that he hopes to get through congress.¬†

Markets were somewhat concerned today by a $20 billion margin call against an apparently failed family office / hedge fund. These things can tend to topple additional dominoes and so it is a concern.

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