On Monday, the S&P 500 was down 0.3% while Toronto as up 0.3%.
Oil is strong at U.S. $75.36. This bodes well for Alberta.
Perhaps not coincidentally, Canadian Western Bank was up 2.6%.
The oil and gas ETF XEG was up 3.0%.
Melcor Developments was up 5.0% to $14.67. That’s on thin volume but it has now been pushing higher for about three weeks. Checking insider trading for Melcor Developments I see the company itself bought back a few shares at $15.54 on Wednesday last week. Previously it seemed they had capped their bid at $12.50 so this is a bit of a good sign. But overall insider trading does not really support a higher price. What I think will support a higher price will be the Q3 results when released in November.
West Fraser Timber was up 2.7% to $107.52. Over the summer, lumber prices had declined but in September they have bounced somewhat upwards.