Posted by Davy Bui on November 28th, 2007 in Market Commentary
Email Davy

Markets just closed on a monster rally. For this week, at least, horrific news is sweet music as it locks in a Fed cut in December.

Financials and tech led the way — energy slid on the drop in oil prices.

I don’t want to get too wrapped up in day-to-day movements (and I may be already).

I’m quite comfortable with most parts of my portfolio, with the possible exception of Teck Cominco. We have yet to see capitulation in the financials so this bounce is dangerous. I’m definitely got my eye on a couple of these but until I see the whites of the market’s eyes, I’m sitting on my hands.

There are a few non-financials that look like possible prospects. I’m doing some research now and we’ll see how it turns out.