Friday Morning Radio Spot

North American stocks rose 1/2% at the start of trading today, following upbeat results from key technology companies yesterday. Oracle rose 5.7 per cent and RIM rose 3.5 per cent. Gold hit another record, rising above $1280 (U.S.) an ounce. Markets are still positive but have pulled back after disappointing consumer sentiment numbers came out this morning in the US. Another important driver today may be "quadruple witching". This occurs when several derivatives contracts expire at the same time and can lead to alot of trading activity.

In terms of seasonal trades, so far September has been good to investors. However, historically September has been an unfavourable month in the stock market, especially the last 1/2 of the month. From a technical perspective 12,300 on the TSX is the next point of resistance and we are approaching 12,200 today. So if you are concerned call me at 868-5525 or visit yourlifeyourplan.ca.