TSX closes above 14,000

Why Are Canadians Cheering For This?

So Toronto Market Stock closes at 14,000? the markets is pretty much rigged, i just cant believe the comments at the cbc comment section, they are actually celebrating this.

www.cbc.ca...

We've just seen a remarkable market recovery from the second largest percentage market dip in 150 years. We saw a huge emotional panic to get out of the market following Lehman's demise, and we are now seeing the same crowd looking get back in, just when the S&P500 has doubled from its March 2009 lows of 666.

But looking at corporate profits and balance sheets around North America, one can make a straightforward conclusion that most companies are in very good shape. Valuations are a little streched in some sectors (commodities mainly) and it would only seem reasonable to expect a modest pullback of 5-15% sooner than later - once the current inflows of cash trickle down some, the market will slow down - it's been quite a run from July 2010. The easy money has already been made.

That doesn't mean that someone who's still willing to do a little homework, or ask for a little advice cannot collect a 3.5% to 4.5% average dividend yield from a simple and fairly well diversified portfolio of 15 or 20 quality Canadian brand name companies. To those of you who don't "beleive" in the stock market, it is only because you have never taking even a few minutes to consider what is the foundation to our economy, or even the world's economy - forget about government for a minute, who employs people? In fact, reading some of the comments on this blog can be a bit disturbing sometimes.

All Canadians have some stake in the market, whether they know it or not trough CPP or even your own RRSPs. Companies employ people and look to make a profit - current profits are strong and the global economy is slowly but surely recovering - aside from the current geopolitical issues around the Suez canal, we've made a lot of progress - and no, the markets aren't going to zero just yet!

I am actually lost for words, are we canadians going sit back and watch the collapse before us?
i dont get it why are they celebrating for it.

With unemployment rate going up and not going down, what is there to cheer, or what about the food prices going to rise? i guess that doesn't bother the markets.


I am sorry but i find these comments by those people are cliche, either that or they are some stock brokers.





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reply to post by Agent_USA_Supporter


take care of Toronto... i have family there..

good people

stock market hype hot air trying to inflate anothor bubble it get the rich off the hook for hanging onto bad investments

The mistake with this person's comment is that they believe the money will begin to "trickle down".
This pseudo-recovery won't last long enough for the money to seep through, and even if it did, I'm sure people are now beginning to realize the importance of savings over spending which this guy must think will be the icing on the cake in the recovery, as spending = employment? Sorry, not in the western world anymore...every promising and lying business is moving their eyes along with the Sun. All of these high numbers on the stock exchanges are purely inflationary. I can't believe nobody realizes this. It is people literally trying to cash in on the numbers on the display before the electricity stops flowing and the screen turns black, just like with EVERY OTHER BUBBLE.

I hate to be the one to point this out.

But I live in vancouver bc. And the economy here has done nothing but improve over the past two years. Everyone I know has a job. Prices for everything are high, but that's bc, everything is expensive here in bc. But the economy, seems to be fine. There is construction on every single block in the lower mainland. It's retarded the amount of things being built. From houses to business's. Road construction is everywhere as well. And everyone I have talked to, has said how fortunate we are to live here, because the recession didn't hit us very hard at all. I own a lawn care business, and last year, was one of my busiest years. I made more money than any other year, gain new clients and had to turn jobs down. I don't know much about the other provinces, but the economy is doing great here.

However, I went to the states the other day, and I noticed that it was like a ghost town. The grocery store had like two people working. and there was about 5 shoppers in total that I saw in an hour. No line ups, and the food, was soooo cheap, compared to bc, it felt like stealing. Then I went to a mexican restaurant for dinner, and the mexican working there said he wished he was back in mexico because there is more work there. He said he had a better life in mexico, than he has ever had in the usa. The economy in the usa sucks, the economy in canada, is great. So from my point of view, the TSK passing 14,000 is only a good thing. And I'm betting the person that left that comment, is from bc. as well.

What I fail to see, is an economy collapse coming in canada. I don't see any big warning signs here. Not yet. I know that if the usa goes down, then yes, so will canada, but until then, I believe canada will be just fine.