Friday Noon Radio Spot

With little momentous news to speak of, the markets are little changed. The S&P/TSX composite is flat with six of ten sectors on the rise. Gold stocks and Research In Motion are pushing the index higher as investors transition to safe havens and RIM reported better than expected earnings. The Financial and Energy sectors are limiting gains. In terms of breadth, 126 stocks are up, 104 are down, and 10 are unchanged.

David Rosenberg argues one indicator to identify when markets will bottom and when to turn optimistic on equities is revisions to analysts earnings projections. This data is out monthly and can be very accurate given that earnings revisions bottomed in March 2009 and it peaked in October 2007 and look what happened in both cases. In the past year markets have been range bound. September has been rewarding to investors so far this year. So the question is will markets break out of the range? For a tactical approach to investing in range bound markets call me at 868-5525 or visit yourlifeyourplan.ca.