As banks give up the Trump bump gains
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Thread: As banks give up the Trump bump gains

  1. #1
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    As banks give up the Trump bump gains

    As i do not hold any banks,etf`s or mutual funds

    I sold all before election,looking like the near future will be buying opportunity

    Thinking BNS,TD and RY

    Anyone else not holding banks


  2. #2
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    Looking for a good entry point for US financials and to add to CND financials, are you only looking a CND financials?

  3. #3
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    Nursing gains of 13% since October. About 0.6% dip in May so far. Don't time the market.

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  5. #4
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    I will wait for another few weeks,,,
    Last edited by 1980z28; 2017-05-17 at 11:55 PM.

  6. #5
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    ^

    I took a bite of the banks and some other stocks yesterday, but I got a long way to go to get my cash and bonds into stocks. Like you, I'll wait for more days that the market is taking a pounding before i take another bite.

    CIBC presents the best value on a p/e and yield basis. Probably nothing wrong with nibbling on it. Reportedly, it is down considerably due to their plans to buy some US asset. Market is a little anxious about the apparent pending purchase as seen in driving the stock price down.

    What's that saying? - be greedy when others are fearful.

    This waiting is, however, probably considered "timing" but I don't care. Bogleheads are brainwashed to ignore value, and buying what presents as the best value at a particular time is considered "market timing", eventhough it isn't. Jack Bogle himself has warned his followers to not expect more than 4% return over the next 10 years due to poor appreciation potential. To me that means waiting for better value to buy hard might be prudent.
    We can not know things as they are in themselves, but only as they appear to us.

  7. #6
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    Here’s when each bank reports and the average profit estimates, according to Thomson Reuters:
    May 24: Bank of Montreal (EPS consensus: $1.93, up 12 per cent vs Q2 2016 )
    May 25: Canadian Imperial Bank of Commerce ($2.57, up 7 per cent)
    May 25: Toronto-Dominion Bank ($1.24, up three per cent)
    May 25: Royal Bank of Canada ($1.84, up five per cent)
    May 30: Bank of Nova Scotia ($1.56, up 11 per cent)
    May 31: National Bank of Canada ($1.26, up 10 per cent)

    I will wait until after earnings,maybe start out with a few hundred shares each of the 4 banks(ry,td,bns,cibc)

    Just my thoughts today

  8. #7
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    The first time I heard "don't time the market" wrote by Investors Group. Now I wonder why they would say that!.

    Then you study all these cool things P/E, 50 day,200 day and every other matrix to time the stock?

    Buy on sale! Oldroe said.

  9. #8
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    yah.. don't time the market, i agree. your guess on market going up and down is irrelevent on the point where you are guessing from, unfortunately. market timers get burned. i know, i am sitting on cash for the last 6 months, waiting for an entry point. maybe after the impeachment now :\

  10. #9
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    I would agree with Oldroe, Pluto and the other value/"timers". I would qualify this statement with the fact that I am usually near fully invested. Absolutely never more than 10% and typically less than 5% (get an itchy trigger finger around 4-7% ). Currently cash position is 4.7% and have put in a few stink bids. Personal circumstances will let me build my cash position over the summer. Starting in June I receive a promotion that will place my pension contributions @ 21% thus rendering contributions to my RRSP no longer necessary. In time it will max itself out. As a result my focus will shift to maxing out my TFSA and child's RESP. Upon achieving that I will then work on the spouses TFSA and RRSP before moving on to non reg. Either way I am content to stockpile money in highly underfunded TFSA (aside from a few months cash set aside as an emergency fund). If there is pullback in the 10-20% range I will deploy cash, if not I will let it climb to 10% and then revaluate if 10% cash is too much for my comfort level. Is this timing? Some would say. I use a quasi "tilt" approach investing holding off on buys when I don't see many bargains. Prior experience tells me that I can ride out any downturn (in fact excited to buy on the way down). This ability may change when I enter the withdrawal mode in retirement (20 or more years away). This bull is getting a little long in the tooth but it could continue for quite sometime. However, I am certain I can stay solvent longer than markets can remain irrational.

  11. #10
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    In the 08 correction/crash I had money from my retirement and some from selling off positions. Twice I max my credit card because I new a GIC was coming due. Honey Bunn and I had a VA K to Vegas planned I tried to cancel to invest money dead eye stare. So I rolled all my change bought my last 100 shares of Bank Nova Scotia.

    The point is when there's a sale do what you need to.


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