November 2, 2016

On Wednesday markets were down as oil prices were down and as fears of the election outcome put downward pressure on stock prices.

The S&P 500 was down 0.7% and Toronto was down 1.2%.

AutoCanada was down another 3.0% to $21.42. I added modestly to my position today to take advantage of the lower price. They will report earnings Thursday after the close.

Costco reported October same store sales up 2.0% (adjusted for gasoline prices and currency impacts). This growth is not bad but is probably lower than the stock is pricing in.


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