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The Week of February 13th to February 19th, 2017 “A Brief Look Back Into Tomorrow”

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The Week of February 13th to February 19th, 2017 “A Brief Look Back Into Tomorrow”

 

 

 

 

 

The new trading week began on Monday, February 13th with all of the major North American markets at record all-time highs and investors torn between taking profits or adding to a winning situation.

 

 

 

To which technical analysts David Tippin & Ron Meisels commented – “Investors should not chase stocks at these levels. Pullbacks will offer opportunities to buy technically-strong stocks.” (For a complete copy of this report please contact ‘Rod.Blake@canaccord.com’.)

 

 

 

RDM Corp. (RC-T) shares’ rose by over 13% to $5.43 after the cheque scanning company agreed to a US$72-million all-cash takeover offer from cheque printer Deluxe Corp. (DLX-N).

 

 

 

And the price of Zeltiq Aesthetics (ZLTQ-Q) stock also gained over 13% to US$55.87 on word that Allergan PLC (AGN-N) was taking over the body-contouring product maker in an all-cash deal of some US$2.48-billion.

 

 

 

Tuesday, February 14th had U.S. Federal Reserve Chair Janet Yellen reiterate that the American central bank should continue to raise interest rates slowly.

 

 

 

MarketWatch reported that in 2016 the state of Colorado received nearly US$200-million in tax revenue from US$1.3-billion of marijuana sales.

 

 

 

The price of Northern Dynasty (NDM-T) stock plunge by almost 22% to $3.25 after report by Kerrisdale Capital Management questioned the viability of the company’s giant Pebble copper/gold deposit in southwest Alaska.

 

 

 

Yellow Pages (Y-T) shares’ plunged by over 25% to $12.62 after the search company reported less than expected 4th-quarter financials.

 

 

 

 

 

Airline stocks rose in tandem on Wednesday, February 15th after it was revealed that investment icon Warren Buffett had increased his holdings in some of them through Berkshire Hathaway (BRK’A-N).

 

 

 

Bearing Resources (BRZ-V) shares’ surges up by almost 20% to $1.39 after the mineral explorer reported encouraging lithium & potassium drill hole results from its Maricunga project in Chile.

 

 

 

Conversely, the price of Doubleview Capital (DBV-V) stock tumbled by over 23.5% to $0.13 after the company failed to impress investors with drill hole gold assays from its Hat project in northwestern British Columbia.

 

 

 

Thursday, February 16th had the price of Revive Therapeutics (RVV-V) soar up by almost 62% to $0.23 after the junior pharma company announced it was investigating the use of cannabis based products in the treatment of liver diseases.

 

 

 

Avon Products (AVP-N) shares’ fell by over 18.5% to US$4.77 after the cosmetic company failed to impress the street with its 4th-quarter financials.

 

 

 

And the price of Kate Spade (KSTE-Q) rose by almost 15% to US$22.57 following the luxury handbag company announcement it was exploring strategic alternatives to enhance the company and its shareholder value.

 

 

 

Fortress Investment Group (FIG-N) shares’ soared up by over 28.5% to US$7.99 on word the investment banking company had agreed to be acquired by Japan’s SoftBank Group in an all-cash deal of some US$3.3-billion.

 

 

 

The Canadian stock markets were some of the world’s best performing markets last year and part of the reason may be a February 17th report by Statistics Canada that foreigners bought a record $161.28-billion of Canadian securities in 2016 – well up from the previous record of $127.69-billion purchased in 2010.

 

 

 

During the Week – The CRB Spot Commodity Index rose to a new 2-year high of 437 helping the TSX Venture Exchange to reach to a new 21/2-year high of 844. Meanwhile the major North American exchanges with the TSX Composite at 15,864, the NASDAQ at 5,839, the S&P 500 at 2,353 and the Dow Industrials at 20,624 all set new all-time highs.

 

 

 

Brand Leaders Plus Income ETF (HBF-T) at $8.82, Copper Mountain Mining (CMMC-T) at $1.32 and Restaurant Brands Int’l. (QSR-T) at $72.07 all rose to new TSX 52-week trading highs while the BP NASDAQ Daily Bear ETF (HQD-T) at $13.96, Transat A.T. (TRZ-T) at $5.03 and Yellow Pages (Y-T) at $10.89 all fell to new 52-week trading lows.

 

 

 

 

For the Week – the Dow Industrials gained 1.75% to 20,624, with the S&P 500 up by 1.51% to 2,353 and the NASDAQ Exchange ahead by 1.83% to 5,839. Across the line, the TSX Composite Index rose by 0.70% to 15,839 and the TSX Venture Exchange gained 0.96% to 844.

 

 

 

With Commoditiesgold bullion improved by 0.08% to US$1,239, while copper lost 1.81% to US$2.72, with crude oil down by 0.22% to US$53.74 and natural gas dropped by 2.31% to US$2.96. Overall, the CRB Spot Commodities Index rose by 0.23% to end the week at 435.

 

 

 

The Canadian dollar fell by 0.12% against the U.S. dollar to finish the week at US$0.7633.

 

 

 

And the closely watched CBOE Volatility Index or VIX rose by 0.54-point to end the week at a little more nervous level of 11.39.

 

 

 

 

And Finally – As Canadians make their final Registered Retirement Savings Plan (RRSP) contributions at the end of February – it is of interest to note that this very popular personal savings plan turns 60-years old in 2017, and if it was a person, would be eligible for retirement itself.

Posted February 20, 2017

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