On Thursday, the S&P 500 was down 0.15% and Toronto was up 0.3%.
Ceapro was up 10.9%. But it’s a penny stock and tends to be quite volatile.
Canadian Tire was up 2.3%. One aspect of Canadian Tire that looks weak to me is its Party City chain. I happened to be near one of their stores yesterday around noon. The overall impression it made on me was that it was very junky. The place also smelled bad. Prices on things like paper plates looked high compared to Dollarama. Also, I was just about the only customer in the store. To some extent this chain competes with Dollarama and that is not good because Dollarama is extremely good at what it does. I was in a Dollarama this week and the immediate impression was of a bright clean orderly and well-stocked store. Many of the items it sells are made for Dollarama and come packaged with their logo. Party City is just not in the same league. Canadian Tire will have to literally clean up those stores if it is going to succeed in that business.
There was news today about how strong the Canadian housing market is in terms of sales and prices for existing homes. Meanwhile Melcor Developments stock price continues to lanquish badly. I suspect that their Q3 results will be better than the market appears to expect. After the close, the Melcor REIT confirmed its cash distribution for the next three months.
I sold more of my Toll Brothers shares today to raise cash. I still have a relatively large investment in Toll Brothers.