Upon returning from some quality beach family time I headed straight for the Great White North – via New York City that is. Earlier today I stopped by the NASDAQ MarketSite studios where they are still feeling some aftereffects from yesterday’s historic 3-hour shut down. Rumor has it that once again some squirrels have been nibbling NASDAQ’s wires.
All kidding aside, while the cause of the shutdown is not yet fully known, the market weathered the event surprisingly well. Safe to say with the ever-faster and complex global securities market, we can expect to suffer from more frequent glitches in months and years to come. In any event, as Canadian stocks began to outpace U.S. stocks this morning I covered many topics with our Canadian colleagues.
Fears of a typical October meltdown have begun to surface, but as I discussed in the video clip (http://watch.bnn.ca/#clip989772) below on Business News Network (BNN) Canada’s only all business and financial news channel, I suspect the brunt of any further decline in equities to occur in the latter part of September. I also covered the gamut of long and short sector and commodity setups over the next few months, my overall market outlook and our basket of attractive biotech and consumer stocks.
By Jeffrey A Hirsch