Still don''t get it?CM's chart looks horrible - looks like a arrow pointing to the $95 level.
But fundamentals looking very strong. Both TSX and DOW hitting records. The stock market has a greatest impact on CM vs. other banks (i.e., CM is highest for wealth management as a percentage of total profits). Discount trading not making money (look at TD's ATMD), but value-added (brokers - i.e., Wood Gundy and mutual funds) services are highly profitable.
CM has the lowest pay-out ratio and so look for another dividend increase in 2 quarters time.
CM's earnings this year to be boosted by First Caribbean acquisition.
And U.S. banks up strongly - again today.
I don't get it?
I bought more today even though momentum negative and chart looks poor. Just banking on the fact the fundamentals and valuation so compelling and a turnaround must occur soon. And a turnaround could be very quick.