Tumbling China stocks, higher than expected oil inventories and uncertainty in Greece contributed to another sell-off today in North American markets. The TSX shed 212 points or 1.45% as all the major sub-indices fell led by Financials (1.13%), Energy (2.19%) and Industrials (2.07%). The TSX is down 5% from one year ago and has lost 6.17% since the April 15 YTD high. Toronto volume was 7% lower than average but New York Volume was higher despite trading being halted for 3 1/2 hours.
Downside risk continues to outweigh upside potential. VectorVest guidance in the Views tab states, Prudent investors should remain on the sidelines.
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Presented by Stan Heller, Consultant, VectorVest Canada