The Week of November 6th to November 12th, 2017 “A brief Look Back Into Tomorrow”






The new trading week began on Monday, November 6th with both the American and Canadian major markets at all-rime highs and crude oil suddenly at a new 21/3-year high.




Aurora Cannabis (ACB-T) stock rose by 10.5% to $3.47 on word the company had signed a services agreement to develop and deliver cannabis extracts to Radient Technologies     (RTI-T).




The price of Argentina Lithium (LIT-V) rocketed up by almost 51% to $0.46 after the junior explorer announce it had acquired the Incahuasi Salar brine basin in Catamarca Province, Argentina.




Michael Kors (KORS-N) shares’ surged up by almost 15% to US$154.62 after the retailer reversed a year-long decline in sales and beat analysts’ expectations with its 2nd-quarter financials.




Tuesday, November 6th saw the price of AlarmForce industries (AF-T) rocket up by 71.5% to $16.02 on word that media/telecommunications giant BCE Inc. (BCE-T) was buying the home monitoring company in an all-cash deal of some $166-million.




And the price of Aurico Metals (AMI-T) soared up by 36% to $1.77 after the min-tier miner agreed to $310-million all-cash buyout from fellow miner Centerra Gold (CG-T).




Priceline Group (PCLN-Q) stock fell by almost 14% to US$1,641.00 after the online travel service lowered its 4th-quarter profit forecast.




Similarly, the price of TripAdvisor Inc. shares’ tumbled by 23.5% to US$30.22 after the hotel booking company failed to meet the streets’ expectations with its 3rd-quarter financials.




Twitter Inc. (TWTR-Q) started Wednesday, November 8th by telling us that we could now double our electronic conversations to 280-carracters.




Linamar Corp. (LNR-T) shares’ fell by 14% on after Canadas’s second largest auto-parts maker filed poorer than expected 3rd-quarter financials.




The price of Snap Inc. (SNAP-Q) stock dropped by over 14.5% to US$12.91 after the disappearing e-message company failed to meet the streets’ expectations with its latest quarterly financials.




The on again – off again dispute between Eldorado Gold (EL-T) and the Greek government bubbled to the top again on Thursday, November 9th as the miner once again suspended all operations at its Skouries gold mine over ongoing permitting delays.




America’s largest home builder, D.R. Horton (DHI-N) reported an 18.2% increase in 2nd-quarter new home orders.




Painted Pony (PONY-T) shares’ rose by over 20% to $3.66 after the petroleum producer reported record 3rd-quarter oil production.




The price of Vista Outdoor (VSTO-N) stock fell by 28% to US$13.25 after the arms and ammunition company reported a sharp decline in 2nd-quarter earnings.




Friday, November 10th had petroleum industry analyst Baker Hughes (BHGE-N) report that the number of active American drilling rigs rose by 9-rigs last week to 907 active rigs. Up north, the number of active Canadian rigs rose by 11-rigs to 203 active drilling rigs.




The Canadian Federal Government announced it and the provinces expect to collect about $1-billion a year in extra revenue once marijuana becomes legal in 2018.




The markets traded quietly going into the Canadian Remembrance Day and U.S. Veterans Day long weekend.



During the Weeknatural gas reached a new 6-month high of US$3.31/mmbtu as crude oil rose to a new 21/3-year high of US$57.39-a-barrel, while the TSX, Dow S&P 500 and NASDAQ all reached respective all-time closing highs of 16,132, 23,564, 2,594 and 6,789.




Calfrac Well Services (CFW-T) at $6.04, Canopy Growth (WEED-T) at $21.72 and Fortis Inc. (FTS-T) at $48.46 all reached new TSX 52-week trading highs while AGT Food & Ingredients (AGT-T) at $17.85, Molson Coors Canada (TPX.B-T0 at $100.35 and Torex Gold (TXG-T) at $12.42 all fell to new 52-week trading lows.




For the Week – the Dow Industrials fell by 0.50% to 23,422, with the S&P 500 off by 0.23% to 2,582 and the NASDAQ down by 0.12% to 6,751. To the frozen north – the TSX Composite rose by 0.12% to 16,039 and the TSX Venture Exchange improved by 0.51% to 796.




With Commoditiesgold bullion rose by 0.55% to US$1,276, with copper down by 1.60% to US$3.07, as crude oil gained 2.62% to US$57.10 and natural gas gained 11.07% to US$3.31. Overall, the CRB Spot Commodity index improved by 0.47% to end the week at 431.




The Canadian dollar advanced by 0.69% against the American equivalent to finish the week at US$0.7888.




And the closely watched CBOE Volatility Index or VIX rose by 2.09-points to end the week at a little more nervous level of 11.23.




And Finally – With the current relentless increase in the price of hard assets such as housing and art,  it is of interest to note a recent CIBC Economics study that found that younger Canadians can expect to inherit about $750-billion of assets over the next 10-years – some 50% more than in the previous decade.

Posted November 14, 2017


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