Thursday saw the S&P 500 down 0.8% and Toronto down 0.4%.
A drop in the S&P 500 is no surprise and not distressing after almost two years of almost uninterrupted gains since Trump’s election. But it also seems to pull down Toronto and various stocks that have not participated in the big gains of the past two years.
Linamar was down 3.4%. As is my habit in these cases I picked up a bit more today.
Dollarama was down 1.9% and I added to my small position. It had fallen on disappointing earnings growth in its Q2. It’s still not cheap so I would accumulate only slowly and not aggressively.
AutoCanada was down 3.4%. I view AutoCanada as more risky than Linamar and am not eager to add to my position in this one.
Toll Brothers was down another 1.4%. I would have grabbed a few more shares today but I don’t have the cash in the U.S. dollar “side” of my investment accounts.
Amazon was down 2.2% to $1909. If I had some U.S. cash, I would be tempted to finally put just a few dollars into this name.
My approach has always been to buy individual stocks low and sell when those stocks seem over-valued. This year continues to offer lots of opportunity to buy low, but I would certainly like to see less opportunity for that and more opportunity on the sell high side.
Tomorrow, the expectation is the U.S. jobs number will be very positive leading to more bragging by Trump. Life is just not fair at times!