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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: upanddown who wrote (80827)3/2/2007 8:15:27 PM
From: Kayaker  Read Replies (1) of 206131
 
<< Anyone else growing weary of Canadian energy investing? $62 oil and $7.20 gas and it is like the end of the world in Toronto. >>

Huh? Are you thinking US energy stocks were up this week?

ExxonMobil Corp. down 6.9% for the week, shares negative year-to-date.......XOI down 4.9% from last Friday's finish......OSX losing 3.1% over the week.

<<I thought the loonie was at least turning upward after a five-month decline against the buck but now it has again declined every day this week. How the currency of a country with large budget and trade surpluses, energy independence and enormous reserves can ever decline against the currency of the world's biggest spendthrift is a puzzle to me. >>

The loonie is an oil/mining/commodity currency.... another is the Australian dollar. Markets are freaked out about a US (or worldwide) slowdown so bail out of oil and mining stocks, and commodity currencies. Both currencies were down this week, as expected.

<< If Canada can't figure out how fortunate they are, it might be time to move on. >>

Certainly we're fortunate in Canada to have a government that spends less than it taxes. Nothing wrong with Canada or Canadian energy stocks. Maybe there's a buying opportunity coming soon..... move on if you like.
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