Artis Real Estate Investment Pref Shs Series E T.AX.P.E

RE:TSX WENT GREEN.

[DZtrader]

Now don't you just feel like a big ole dummy?! If you haven't noticed the over reaction has given way. Also with regards to your earlier post, if you are going to quote me, please have the decency to be honest, after all it is in writing for anyone to see. I did not say the upcoming PCE was going to be good. I said the PCE is going to be Ok, which actually was meant in two ways, firstly I don't think it will be in excess of 3 which the fear is, and am hopeful it will be somewhat lower (maybe that is just hopeful, there goes my optimist self again), and secondly and really most importantly (at least for trading) is that the reaction given that scenario will be positive. You hear me mention the "set up" many times, to me this is as important as the information coming out, again at least from a trading prospective. If this selling pressure had maintained, the "set up" was looking good for anything other than a hot report and the market would have responded accordingly. This is not to say we don't see another hotter than expected report, I truly don't know, just a guess. Ultimately, trade the market and data you get.

What I think you are beginning to see here and I could be wrong, is that the market is starting to see bad news is good news again. Softer GDP could mean cuts may indeed be forthcoming. The huge problem is a worse case scenario in which we are softening and inflationary pressures are persistant. That could prove to be quite costly to this market even though we have pulled in a bit of late. We however are not quite at that point yet.