Thursday, June 7, 2007

sell off stats


Markets are selling off the last three days, and they are not discriminating. (Above is the TSX/S&P in the last month for some perspective.)
Here are some percentage losses with an emphasis on some of my favourite stocks.

Time Period = Tuesday (June 5, 2007 open - Thursday June 7, 2007 close)

TSX/S&P -3.0%
DJIA -3.1%

Sun Life -2.8%
Manulife -3.2%
IGM Financial -4.4%
Shoppers Drug Mart -2.5%

Walgreen -2.7%
Scotts Miracle Gro -5.6%
General Electric -2.8%

Exceptions were few and far between:
Tim Hortons -0.7%

Will be interesting to see how far we may go. Interest rate worries are probably leading the charge downward here. Buying opportunity or the beginning of the end?


2 comments:

Nurse B, 911 said...

I think people forget that interest rates are still "attractive" on a historical basis. Fundamentals of the market haven't changed, just a slight cooling of the feverish pace the markets have had so far. This may just be our "May" sell off that we missed earlier last month

Investoid said...

It could be the sign of things to come - it all depends on whether interest rate expectations (ie. higher rates around the world) come to fruition. The market has been ignoring higher inflation for some time now due to low interest rates and high monetary liquidity. Now that banks around the world are signaling that inflation is a concern again, big-time investors are taking pause.

At this point I think it could either way.