Kasha, it seems our insightful thread is being ignored by the rest of the world. I agree with you regarding Wells Fargo, I watch it regularly at work and have noticed the high PE. Compared to the Cdn banks, 23 is ridiculously high. I watched CNBC up until last week when I decided to switch back to basic cable, I just couldn't justify the added cost since I get to read a lot of stuff at work anyway. In any case, I can still hear it but can't read text or graphs. Jimmy Rogers is always interesting to listen to, it's amazing the people they get on there. Sometimes Squawk Box annoys me, with the two equity guys bantering on like it was their own basic cable program but I guess they have more flair than Lou Dobbs.
As for the markets this week, I don't have my historical stuff here, I'll update you tomorrow night. If I recall, the trends indicate that the market will likely move lower this week but I'm not really big on the technical analysis side of things. I do however, have a listing which indicates the likelihood of the Dow finishing higher on any given day this year based on past changes from 1952-96. I find it fascinating. Personally, I feel that the 200+ point selloff in NY and 140+ in Toronto may have been slightly overdone but it's unlikely to reverse the trend yet. I feel that things will probably cool down over the week, but that April will end still lower.
If you're interested in a short commentary on the Canadian markets and interest rates, you may wish to call Altamira's AltaAccess. They are a major no-load company in Canada and while I may not like all their funds their commentary is straight and to the point. 1-800-360-3667, then option #3 I beleive for market commentary. They may give you a feeling for interest rates. The long bond was way down on Friday, on the order of about 80cents, quite a drop. I'll be watching it tomorrow.
Your point about Japan makes good sense, I must admit I hadnt given it much thought but it was something which everyone followed when the money was flowing in, so why not back out?
Steve |
