This effort by China (to devalue the yuan), we see it as an act to help support the export market at a time when the major developed economies are competing for exports. But who's doing the buying? overall, that will weigh on commodities and weigh on the Canadian market going into next year.

Philip Petursson

Categorized in : Company News

I think it really does come down to oil. by Philip Petursson

I think it really does come down to oil.

Philip Petursson

My view is that we can see oil continuing to provide a lift to the TSX, but I don't think it's going to be smooth between now and the end of the year.

Philip Petursson

Energy is definitely leading it, on the back of the stronger oil prices, but it is lifting the rest of the market with it.

Philip Petursson

It's too easy to make a bearish case and too difficult to make a bullish case at this point in time, on energy and on the broad market.

Philip Petursson

I think the trend is going to be what we've seen through this year, it's going to be grind higher then be knocked down, then grind a little higher and be knocked down.

Philip Petursson

We've had a decent period of consolidation. This correction that we've seen has let off some of the steam in the markets, now we can re-evaluate on somewhat better valuations, more realistic earnings expectations, and a more favorable outlook over the next 12 months.

Philip Petursson

At this point I would say you'd still want to be cautious on the miners as well as the energy sector, i think the pop today is really in relation to China and expectations of continued stimulus. How much that helps to prop up the metals is subject to pretty wide debate. We're still in a supply glut situation.

Philip Petursson

Canada's a victim of the rest of the world ... Certainly oil hitting new lows is not good for our market.

Philip Petursson

There's still a good deal of uncertainty out there, there's still some risk to be had in terms of economic growth.

Philip Petursson

There's a little bit more of a calm into the marketplace that's c... by Philip Petursson

There's a little bit more of a calm into the marketplace that's come over the past couple of days.

Philip Petursson

(Energy) hasn't been a big bet at this point, i think that makes a number of energy names attractive... it might be little bit ahead of itself now. But if you're patient and have a 12 to 24-month window, I think energy is one of the more interesting sectors in the Canadian space.

Philip Petursson

One thing we've seen over the last week and change is the steepening of the yield curve in Canada ... That helps the banks a little bit.

Philip Petursson

The equity markets are certainly applauding the decision. This could mean that they are not going to be quick in raising rates, the Fed is still cautious and wary about the sustainability of economic growth. They are taking baby steps to a full-blown tightening cycle.

Philip Petursson

It looks like oil is taking everything down with it, this could be indicative of a weaker economic environment for 2015, and that is starting to be realized by the equity market.

Philip Petursson

On the belief that oil prices are not likely to remain this low for an extended period of time, then there are definitely some bargains to be had with the oil producers.

Philip Petursson