RE: RE: David Driscoll Market Call - Fridayridingthetrend...David Driscoll is full of it ...if he could read a chart he would see that the Canadian Banks are ALL at late 2003-2004 -part of 2005 SP levels RY is, BNS is, TD is... if that is NOT support what the HECK is!!!
The Bank index $BKX is oversold the DAY, WEEK, and MONTH charts for all the Canadian Banks are in way over sold and at support levels well established 4 - 5 years ago!!! And he thinks they will get cheaper! really !!
I am willing to bet he is buying right now... these talking heads get on BNN and lie, lie, lie...then they come on the show months later and tell you oh we picked that up at this price...yeah like right after the said they weren't !!!
I invite anyone to look at the 5 to 6 year charts for ANY CANADIAN BANK and not see what I see.
I hold 500 BNS, and 1500 RY, and 2500 MFC, for disclosure and I am holding on to all of them. I did hold CIBC and BMO...until a few months ago got in possibly too soon on those two stocks.
But the bottom for most Canadian Banks looks pretty much here... just my opinion but you can look for yourselves.
Cheers everyone.... have a great weekend