Setting All Sorts Of Records
The TSX is on as spiral downwards. We’re now into 2004 territory, and it doesn’t seem like it’ll hold that for long.
This follows the TSX biggest monthly drop in a decade in October.
While we’re all focused on the Promised One’s next dog, the bottom has fallen out.
This global recession is way beyond Obama and the Democrat’s pay grade. Canada is powerless to stop this decline.
Gold has dropped below $800 despite all those ads telling us to buy now. (Note to self: never buy any financial product when they advertise it.)
RBC has cut Nortel’s stock target to $0… yep, ZERO.
Oil is closing in on $55, which puts it on track to get into the $40 range next week.
The Canadian dollar is almost less than 80 cents.
So unless your homeless, the immediate future doesn’t look too promising.
What to do?
If your employed – work smarter and harder. Now isn’t the time to be asking for that raise.
If your an entrepreneur, get out and start something… a downturn brings all sorts of opportunities as bloated companies contract and fail.
People still eat, drink and consume. Find a market niche that is being abandoned, and fill it.
If you can make a go of something now, you’ll be in a position to make a killing when things start to turn around.
Canada has a severe shortage of decent online shopping sites, and it’s possible to create on without having to look after inventory or shipping.
Need an idea on how this works? Check out blinds.com. They are a $50 million business that ships direct from the manufacturer.
Lord knows that as companies start to fall there will be lots of opportunities.
Watch for companies that make the news with mass layoffs. This is a signal that there is opportunity in the markets they serve. It’s counterintuitive, but the remaining staff usually takes cover, making them an easy target.
Every negative brings a positive…
So what are your recession plans?
November 13th, 2008 at 12:22 pm
Bear market down legs usually end when everybody is very pessimistic. Why because there are no more sellers left. This current down leg is probably the double bottom test of the previous bottom last month and we will get a recovery rally from here. We are going into a recession but much of the market is priced for a depression. With the amount of money the governments are throwing at the problem it eventually has to go somewhere. I see inflation in our future not deflation.