Canadian Stock Market Trends - Published Thursday, April 4, 2013 Last Update: 7:15 AM ET

Gold Stocks Crumble

Good morning.

I am still waking up with a very sore throat, so we will stick to web pages for the next couple days.

The futures are up this morning, in reaction to some news out of Japan.

The Japanese market had a nice pop overnight.

The Australian market is still moving in sync with commodities.

The TSX dropped sharply yesterday.
No surprise, as stocks generally move down faster than they move up.
Now you can see why I started nagging people to take profits back in late January, as the profits and now all gone for 2013.

Yesterday's selling should start to attract the attention of longer-term investors, who will probably spend this weekend contemplating what they should do next.

Luckily for us, a down a move in the market can be just as profitable as an up move in the market using the leveraged ETF's.

TSX

Energy

The financial Bull/Bear ETF's just did a quick two-step reversal.

And then we have the Gold Sector.

Gold stocks dropped in sync with the price of Gold.

And Copper.

Crude Oil may have put in a Double Top yesterday, on higher than expected US Crude Oil inventories..

Longer Term, the Crude Oil Market is working itself into a corner.

The Bearish Lower Highs, start to cancel out the Bullish Higher Lows.

Last up, we need to see the TSX close above 12,571, to generate a new intra day buy signal.

The market may open higher this morning.

I would look to use any rally as a selling opportunity.

Stephen Whiteside  

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