by Arnold Joe
Loading ...Looks like oil and gas stocks weren’t immune to the stock market crash as I had been hoping. As has been written a number of times on this site, it was expected that markets would crash but it was hoped that oil stocks would outperform as record earnings were expected given that oil prices in […]
Economics:
Stock markets in North America have been taking a beating recently especially the oil and gas sector. Oil has dropped about $10 in 2 days and oil stocks have sold off to much lower levels than when oil was last back at this level. It’s not just oil and gas stocks that are selling […]
The price of oil increased $5 to $139 a barrel another record, not surprising the stock markets were down; surprisingly oil stocks were down as well. It’s certainly interesting times when the Dow Jones is at a 21 month low and oil is at an all time high. I bought call options on Petro-Canada (T-PCA, […]
Background:
Quadra Mining Ltd (T-QUA) mines copper in the US from the Robinson mine, has another US mine under construction and is developing a Molybdenum mine in Greenland and a copper mine in Chile. Numbers are presented in thousands of USD.
It has a cash cost of $1.49/pound in 2007, down from $1.76 in 2006. […]
Interest Rates:
The FOMC did as expected and cut short term interest rates by 25 basis points and as you would expect they also signaled their concern about inflation even though fighting inflation isn’t their priority.
Economics:
Stagflation from the US might be spreading to Canada as monthly GDP in February dropped 0.2% and the industrial producer price […]
Recap:
Big day in the markets with the Dow and TSX up 256 and 248 respectively. A number of companies reported earnings today: JP Morgan’s earnings were down 50%, IBM’s up 26%, EBay up 22% and Sallie Mae posted its third consecutive loss. The theme today seems to be that the weakness in the market is […]
Recap:
The TSX was up 55 and the Dow Jones was down 23 after another big bank (Wachovia) reported a quarterly loss and cut its dividend. It’ll be interesting to see how many more write-offs are coming and how many banks report lower earnings or even losses. I expect there will be many more.
Economics:
Retail sales in […]
