DF's outlook for 2010This is it for 2009, I want to go on record now as predicting the New Year for the TSX. I feel that we are in for a huge correction and the reason I say this even as the world records evidence of recovering from the March lows is...
The TSX has ran up faster then the companies growth has and credit problems still prevail. Also the technical's are turning bearish and volume from June has slowly decreased.
I don't expect a lot of foreign investment in 2010 nor a great year for RSP's that usually fuel the beginning of the year.
The winter is half over and the economy is still sputtering leaving little demand for oil while metal demand is lower and inventories rise.
If January starts out poorly then expect the year to follow through.
But.....Keep in mind that no matter how bad the markets get that there is always a bull market to be found in individual stocks that are oversold or the companies thrive.
I personally like tech. JMHO
So keep some powder dry to pick up any deals, I think the TSX Venture has growth promise if money is available.
I do see the TSX surpassing record highs in 2011 so 2010 will offer great bargins. I will be trading every day as always.
Happy New Year!
DF