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Good morning, everyone, and welcome to Tuesday morning and the
Good morning, everyone, and welcome to Tuesday morning and the first day of November in the pre-market this morning stock index Futures are about fair-value, apparently, people are expecting the Chinese government to change their tune on
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the covid restrictions and that put a bid in to
the covid restrictions and that put a bid in to the Hong Kong market, overnight and helped the rest of the Asian and European markets
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Now, this is the first day of the two-day fed
Now, this is the first day of the two-day fed meeting, so I'm not expecting a lot to happen between now and 2 pm
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Now, the yard owl had its biggest monthly gains in
Now, the yard owl had its biggest monthly gains in 45 years and that we've been watching the Dow
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I'll lead the market higher, all month, and then Jim
I'll lead the market higher, all month, and then Jim Cramer came out and said, hold your nose and sell to brace for possible Market turned down
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Next up, listen to take a look at the big
Next up, listen to take a look at the big winners and losers for the month of October and often you'll find some of the biggest losers
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Turn out to be some of the biggest winners and
Turn out to be some of the biggest winners and we've often talked about the mathematics of lost
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But here, we've got them party a leading, the Canadian
But here, we've got them party a leading, the Canadian stock market higher up 6179%
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Need a couple of months in a row to tell
Need a couple of months in a row to tell us that something new is happening here
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I'd then we've got company that's been on a monthly
I'd then we've got company that's been on a monthly by signal for a while now
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Looking to see if it can take a run at
Looking to see if it can take a run at those recent highs from a couple of months ago, that in the US market, we've got Dexcom up 4996%
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back on the monthly by signal that we've got the
back on the monthly by signal that we've got the Norwegian Cruise Lines up, 4868%
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for the month, and then we've got to Silicon Valley
for the month, and then we've got to Silicon Valley Bank at down another 3122%
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Then looking at the Canadian Market was New Flyer out
Then looking at the Canadian Market was New Flyer out of the bus company down
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and then we're looking at convergent technologies that down another
and then we're looking at convergent technologies that down another 1507%
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That what works in the Canadian Market was cannabis stocks
That what works in the Canadian Market was cannabis stocks up by just under 25% for the month
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You'd hardly notice it on a chart then you're looking
You'd hardly notice it on a chart then you're looking at to the energy sector by 2187%
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for the month and then in the US it was
for the month and then in the US it was the energy sector up just under 25%, followed by the transports which were up 1265%
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Looking at the vix in the vixion inside day yesterday,
Looking at the vix in the vixion inside day yesterday, looking for clothes on the Tuesday above 2989, that would change our mood on the market
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And of course, we're expecting that to volatility from the
And of course, we're expecting that to volatility from the FED meeting
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Of course, if we don't get that close on Tuesday
Of course, if we don't get that close on Tuesday above 2989, that offer Channel lines going to continue to move lower
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Let's up finished with today's presentation, looking at Commodities and
Let's up finished with today's presentation, looking at Commodities and do we saw crude oil, pull back into the channel
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Last time I checked and there's natural gas back on
Last time I checked and there's natural gas back on a by signals were seeing a little pull back for natural gas in the pre-market this morning
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As of Monday's close, I joining gold already on a
As of Monday's close, I joining gold already on a cell signal gold, still trying to hold 1625
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If that breaks and 1560, 250 is our next Target,
If that breaks and 1560, 250 is our next Target, then looking at silver, silver, close, slightly high
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We're looking at the price of wheat, which I got
We're looking at the price of wheat, which I got a pop yesterday on news that the Russians going to stop exporting Ukrainian wheat
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Looking for some buying at the open, not looking for
Looking for some buying at the open, not looking for a lot of dramatic activity
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Today, expect things to be fairly normal within the normal
Today, expect things to be fairly normal within the normal ranges, on Tuesday and then into Wednesday
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00:00:00Good morning, everyone.
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00:00:01Welcome to Tuesday Morning and the first day of November in the pre market.
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00:00:06This morning, stock index futures are above fair value.
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00:00:09Apparently, people are expecting the Chinese
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00:00:11government to change their tune on the COVID restrictions.
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00:00:15And that put a bit into the Hong Kong market.
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00:00:18It overnight and helped the rest
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00:00:20of the Asian and European markets move up this morning.
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00:00:24Now, this is the first day of the two day Fed meeting, so not expecting a lot
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00:00:28to happen between now and 02:00 P.m. Wednesday afternoon.
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00:00:31Sometimes it does, sometimes it doesn't.
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00:00:33But typically we don't get a lot of volatility between now and then.
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00:00:38And then, of course,
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00:00:38after 02:00 P.m. Wednesday afternoon, that's when volatility expands.
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00:00:43Now, the Dow had its biggest monthly gains
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00:00:46in 45 years, and we've been watching the Dow lead the market higher all month.
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00:00:52And then Jim Kramer came out and said,
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00:00:54hold your nose and sell to brace for possible market turndown.
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00:00:58So we'll just have to wait and see how things work out.
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00:01:01Yesterday was a very quiet day in the market.
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00:01:03See that little tick?
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00:01:04That was the S&P 500, that was the TSX, and that was the Dow.
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00:01:09And so we're, of course,
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00:01:11expecting volatility to expand after 02:00 P.m. Wednesday afternoon.
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00:01:15Things got very quiet yesterday.
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00:01:17Getting ready for the Fed meeting.
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00:01:20Next up, let's take a look at the big
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00:01:22winners and losers for the month of October.
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00:01:25And often you'll find some of the biggest
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00:01:28losers turn out to be some of the biggest winners.
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00:01:30And we've often talked about the mathematics of loss,
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00:01:34but here we've got Bombardier leading the Canadian stock market higher,
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00:01:38up 61.79% for the month, back on a monthly buy signal.
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00:01:42Then we've got Till rate up 46.05%.
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00:01:46And not really the start of anything.
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00:01:49We'll just have to wait and see.
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00:01:50Need a couple of months in a row to tell us that something new is happening here.
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00:01:55Then we've got a company that's been
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00:01:57on a monthly buy signal for a while now, and this is Precision Drilling,
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00:02:02up 43.72% on the month, looking to see if it can take a run
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00:02:07at those recent highs from a couple of months ago.
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00:02:11Then in the US market, we've got Dexcom up 49.96%, back on a monthly buy signal.
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00:02:18Then we've got Norwegian Cruise Lines, up 48.68%, still on a monthly sell signal.
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00:02:25And then we've got Halliburton.
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00:02:26Big reversal month for Halliburton.
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00:02:28Halliburton back on a buy signal with a gain of 47.93%.
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00:02:33Now on the biggest losers list in the US, looking at the S&P 500,
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00:02:38Generac Holdings a big loser, down another 34.93% for the month.
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00:02:44Then we've got Meta down another 31.34% for the month.
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00:02:49And then we've got Silicon Valley Bank down another 31.22%. So all of those
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00:02:57stocks on the losers list already on a monthly sell signal.
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00:03:02So no change there.
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00:03:04Then looking at the Canadian market, it was New Flyer the bus company down
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00:03:09another 27.51%. Then we've got K92 Mining, the gold mining stock.
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00:03:16It's on its third month of a sell signal, so down another 21.65%. And then we're looking
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00:03:23at Converge Technology, down another 15.07% for the month.
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00:03:29Now, what worked in the Canadian market,
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00:03:31it was Cannabis stocks up just under 25% for the month.
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00:03:35You'd hardly notice it on a chart.
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00:03:37Then you're looking at the Energy sector up by 21.87% for the month.
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00:03:43And then in the US.
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00:03:44It was the Energy sector up just under 25%, followed by the DOW Transports which were
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00:03:50up 12.65%. An inside month for the transports.
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00:03:53Still on a monthly sale signal.
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00:03:56Looking at the VIX.
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00:03:58And the VIX had an inside day yesterday.
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00:04:00Looking for a close on Tuesday above 29.89.
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00:04:03That would change our mood on the market.
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00:04:06And of course we're expecting that volatility from the Fed meeting.
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00:04:09So anything could happen over the next couple of days.
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00:04:12Of course, if we don't get that close
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00:04:14on Tuesday above 29.89, that upper channel line is going to continue to move lower.
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00:04:19Let's finish off today's presentation.
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00:04:22Looking at commodities and we saw crude oil pull back into the channel.
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00:04:25A close below 84.43 would give us a sell signal this morning.
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00:04:30I see crude oil is trading up a little last time I checked.
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00:04:33And there's natural gas back on a buy signal.
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00:04:36We're seeing a little pullback for natural gas in the premarket this morning.
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00:04:40Then we're looking at the copper.
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00:04:42Copper's back on a sell signal as of Monday's close.
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00:04:45Joining Gold, already on a sell signal.
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00:04:48Gold still trying to hold 1625.
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00:04:50If that breaks, then 1562.50 is our next target.
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00:04:54Then looking at silver.
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00:04:55Silver closed slightly higher yesterday.
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00:04:57So still on a buy signal.
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00:04:59No change there.
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00:05:00And last up, we're looking at the price
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00:05:02of wheat, which got a pop yesterday on news that Russia is going to stop
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00:05:06exporting Ukrainian wheat and we don't know how long that's going to last.
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00:05:12Okay folks, that's all for this morning's presentation.
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00:05:14Looking for some buying at the open.
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00:05:16Not looking for a lot of dramatic activity today.
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00:05:20Expect things to be fairly normal within
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00:05:23the normal ranges on Tuesday and then into Wednesday.
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00:05:27And then of course,
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00:05:28we expect Volatility to expand after 02:00 p.m. Wednesday afternoon.
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00:05:33Enjoy the rest of your day.
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00:05:34Next time you'll hear my voice is on Wednesday morning.