Written by: Mike Simonato, Ontario Presenter: “Investing for the Long Term, presented to the Feb. 6 2021 International Online Forum, you can watch by CLICKING HERE.
What I’m Seeing:
At the end of April, I wrote that the next 3 months will be crucial for both the economy and our quality of life. How are we doing so far:
COVID Update:
India really collapsing
Nova Scotia, Ontario, Manitoba, Alberta, and BC under various forms of lockdown
Most Vaccinated country in the world seeing an unprecedented spike in cases
If this isn’t enough, Southern Alberta now has Rabbit Disease which they say is very scary
How is this affecting economies at this point:
Ontario Average Small Business now $200,000 in debt and rising
Newfoundland/ Labrador not looking good at all
Alberta University of Alberta asking staff to 1. Take a pay cut, 2. Accept Reduced Benefits 3. Pay Back Salaries already earned
Differences in handling the situation Nova Scotia Fishermen were fishing in an area they weren’t supposed to be in because of lockdown – $2.000 fines
Ontario if anything $780 fines Successful countries like Australia and New Zealand handled the situation, and the people did what they were told
Ontario you wouldn’t know a lockdown was in place because everybody is out and about like nothing is going on with an obscene number of illegal parties and business open illegally. Look for the effects of Covid continue where people continue to not listen
On Tuesday I wrote about a “Fake” Cyber Attack that shuts down key pipeline supplying 45% of gas to USA North East
Stronger calls to Shut Down Enbridge Line 5 supplying Michigan, Ontario, Quebec and Pennsylvania
Further on K Shaped Recovery I have written about all along is even more evident now ie a competitor phoned me saying he let all his employees go except 1 and he is not busy whereas I’m booked solid until well into July going 7 days a week. I’ve seen this in many different areas
Quality workers continue to quit due to the stress of the situation including a really high up at Zara this week
Lastly there is a lot of interest in Crypto Currencies I’ll be the first to admit I don’t understand this area at all. I don’t know how something that doesn’t exist takes so much hydro to mine? Let’s look at 2 Bitcoin and Dogecoin
Bitcoin 1. Limited Supply
2, Created to be a Decentralized Digital Currency
- Has an Extensive well funded Ecosystem
Dogecoin 1. Up 25,000% in 6 months
- Created as a joke
- Not secure and no real structure
Summary Very Volatile and very dangerous area but if played right huge profits can be had
Finally with rising wood prices, this may lead to higher Toilet Paper Prices
Nothing more than my 2 cents and I hope it’s of value and interest
Now for the Markets:
USA
DOW JONES: Broke above resistance on Thursday with strong candles RT Rising but weak vol
NASDAQ: Lot more volatile Still weakest of the 3
S&P 500: Broke out Friday Rt Rising
MKT TIMING: Still not seeing the strength I’d like to see
READ Strategy
CANADA
PTSE: Broke out Friday on a strong candle
VENTURE: Still not seeing anything yet
MKT TIMING: Right at resistance
READ Views, Strategy, Earnings Indicator rose another point
EUROPE: Bearish Divergence Caution advised
BRITAIN: READ Views and Strategy
AUSTRALIA Read Views Could get a C/DN on Monday
All Mkts still urging caution Stay Safe everyone
Leave A Comment