TSX:TECK.A - Post by User
Post by
ellgaron Aug 07, 2011 10:49am
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Post# 18913228
What to expect tomorrow?
What to expect tomorrow?Preserving capital?
At this point with mid east markets opening down -6% that could reflect back here if no great news comes out of the G7 meeting later today.
Time to consider the preservation of capital and possibly take a loss now to look at getting back in later when this mess settles and possibility avoid a selling contagion like we had in 2008.
That said, I’ll watch how TCK and the market opens tomorrow, at this point I have a gut feeling TCK.b could open below $40, if so, I’ll wait to see if buyers come back ... should have cut losses long ago but who saw this coming with the charts so in oversold territory.
Some have said that the US credit rating drop was expected and priced into the recent selloff, now that it’s out it could oddly signal a relief rally and a short squeeze, that would be a hopeful situation.
All opinions welcome.