We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low.
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's .
I am eyeing the monthly calls with a sept 16th expiry.
I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's .
I am eyeing the monthly calls with a sept 16th expiry.
I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior