On Friday, the S&P 500 gained another 0.9% and Toronto rose 0.2%.
Amazon was up another 3.0%.
AutoCanada was notable with a 5.1% gain to close at $22.18. I am surprised how strong it has been. Apparently the analysts that cover it have mostly been rating it a Buy. According to TD Direct, four of the six analysts rate it a Buy. The National Bank analyst rates it a Sell. Most or all of these same analysts had been “burned’ by this company over the past few years as it underperformed especially under the prior management. It seems I was overly cautious in trimming my position but that was prudent for me as it was a fairly large position and many uncertainties remain. It will be interesting to see its financial statements and its earnings for Q3.
I trimmed my TFI International position on Friday to take advantage of the gains there and to raise cash. I am 20% in cash and would not mind being closer to 25% or more in cash (or safe short-term fixed income) as the U.S. election looms as well as the second wave of the pandemic.
The Toronto stock exchange will be closed for the holiday tomorrow but the U.S. markets will be open.