RE: For those Jim Rogers fans....Thanks for posting that link to Jim Rogers, the interview was quintessential Rogers. Even as the Loon is swooning against the fiat currency to the south, short term, Rogers is looking at a Loonie value beyond parity, going back to a historical high at 1.06 to the US dollar.
I agree that this is a counter-trend rally and will resume the longer term trend. The Fed Reserve will raise rates again soon, and the BOC has not matched. After the Ottawa meeting between leaders it looks like the slide of the dollar was to be slowed.
All major currencies, including the Loon, turned on a dime, after a big rally against the dollar, and just now are stablizing.
Short positions on the dollar and an overwhelming sentiment against the dollar were ripe for a reversal, and here we are.
If I were a Canadian investor with assets in US stocks/bonds, I'd be looking for an exit door by early 2005. For US investors, interested in Canadian assets, hold off buying until then, you'll get more for your money.
The last consolidation was about 80cents to the dollar, as I recall, so that may be the new trading range, 80 to 85, until the next major move.
BTW: I just sampled the market on IVW. The spread was 1.24 by 1.29 with 9000 at the ask. My market trade order went thru at the bid. This is a hint that IVW shares are being held down for accumulation at low prices, to me, IMHO. Not a big deal, because volume today is low, but the pattern of trading recently is consistent in this respect.
Looks like we will be waiting for 'show me the money' time before IVW share price reflects value. Meanwhile, lowball orders will get filled until a real buyer steps in in size.
vocex1