Canada's TSX

For all the chart watchers out there, today Canada's TSX decisively broke what is basically a 70 year secular moving average.

I can upload a local PDF file on it if there is a way to do that around here.

JK

reply to post by leo123

---

www.reportonbusiness.com...

Thanks for the link.

Here's a couple depressing tidbits.

1) Today Japan closed at the same level it was at in 1982.

2) Since the top of the Japan market in circa 1990, the Nikkei has lost 80% of it's value.

3) For the Nikkei to lose the same amount the Down lost after the crash in '29, it still has to go down by another 50%!

Good times.

[edit on 27-10-2008 by leo123]

Being Canadian myself, this is important. Good post- I was thinking about posting this myself. The Canadian market is falling because i think our comodity prices are falling

www.bnn.ca...

TSX down 756, Dow slid too 203 points. I don't think the free fall is over the Dow just yet.

ARNOMANNN:

The interesting thing here is the tank the C$ given our stellar funadentals v. the US.

I firmly believe the US views the Tarsands as a crutial stategic asset to their economy, so therefore they must ensure it is viable for these projects to continue.

Namely, as the price of oil drops the only way Canadian producers can keep these massive projects going is to tube our dollar so in USD terms they are still viable.

This too will blow.

JK

reply to post by leo123

---

My neighbour is an draftsman for a local engineering firm who has millions of dollars in contracts with the tarsnds project. To get oil from the tarsands at a profitable rate means the price of oil has to be above 50 bucks a barrell . Having the dollar devalued angainst the amero i believe wont get them that much farther ahead

Yes,the value of the loonie has been purposely lowered,i stayed at the holiday-inn.