Canadian Market Direction Message Board

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Strategies & Market Trends : Canadian Market Direction

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To: Dave.S who wrote (2)	6/1/1997 9:50:00 PM
From: Jan Johnstone	of 35

Dave, no disagreement with your short term view. A liberal majority will bring a strong reaction, anything else will keep markets down. I'm guessing Liberals will get that majority on Monday. I disagree with your longer term view. I see monetary tightening this year, 25-75 bp in Canada and the US. Earnings will also start to disappoint, likely in 3rd and 4th quarters(Intel, Nike, etc.). USA economy already starting to slow down. I'll be surprised if we see anymore than 10% appreciation by yearend. TSE at 6600 by yearend, Dow no more than 7600, plenty of gyrations until then. Jan

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