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5i Research was founded by Peter Hodson; one of the "Warren Buffetts of Canada" according to the Globe and Mail.

The Canadian Insider blog discusses news and insight found among executive and significant shareholder filings in Canada.

Follow Nicholas Winton who runs gohht.com for market insight and great stock ideas.

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Key INK stock market metrics remain unhealthy

In his latest Howestreet.com broadcast with Jim Goddard, INK CEO Ted Dixon worries that the Fed is looking backwards at positive US economic data instead of forwards at warning signs such as housing. If the Fed does not hold up on its rate hikes, they risk going too far. American insiders and stocks in the U.S. Financials sector are still not confirming a base in share prices and the Fed is probably one of the reasons why.

 

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Gloomy investors ignore the good news at Great Bear Resources and Osisko Metals

When it comes to resource stocks, John Kaiser believes investors are in capitulation mode. In his Tuesday Discovery Watch interview, Mr. Kaiser suggests that may be the overriding reason why Great Bear Resources (Mixed; GBR) and Osisko Metals (Sunny; OM) stocks seemed unimpressed with the good news from both companies over the past week.

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Peak insider buying in Pharmaceuticals and cannabis stocks

As we wrote in our Monday market update, our 30-day Pharmaceuticals Indicator seems to have a decent ability to time the group's highs and lows. When the indicator peaks above 200%, it represents a strong peak in insider buying that has, at times, coincided with a base in stock prices. As of Tuesday, it appears the indicator has peaked at a level not seen since September 2017. This development should catch the interest of cannabis stock speculators as many of those companies are found in the Pharmaceuticals industry classification.

Is the Fed engineering a slow-motion train wreck?

Last month, we suggested the gold market faced one of two scenarios. The first was the case where the Fed came to the conclusion this month that it would have to stop tightening. The second was the scarier situation where the Fed continued to press ahead with its tightening mantra until something broke, such as the stock market.

Based on recent comments by FOMC chairman Jerome Powell, the Fed seems to be relying on the market to tell it when to stop tightening. If this is indeed the case, the central bank should probably put the brakes on hiking rates right now, at least if one of the markets they are watching is the implied inflation rate in Treasury yields.

Trying to build a base for the broad market and pot stocks

Although one week does not make a trend, given recent market carnage, the bulls can be forgiven if they point to some positive developments in the Canadian market last week. Nicholas Winton who writes a weekly technical outlook for the INK Canadian Insider Index noted in his Monday write up that the index (-0.8%) outperformed US markets last week, including the S&P 500 (-4.6%). We would add that the Index also outperformed the large-cap S&P/TSX 60 Index (-2.8%). Both developments are notable. In 2008, stocks outside the United States started to stabilize first. Meanwhile, as we explained in our November 19th report (Are we close to turning the corner?), we will have more confidence that the global selling tide is over once the INK CIN Index starts to outperform large-caps which are seen as a relative area of safety during growth scares.

INK Canadian Insider Index loses 1.6%: will 1050 hold?

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK Canadian Insider Index followed through on its late-week bounce from the prior week and soon ran 16 points to 1093.40 on Monday. However, with tax loss selling and wild volatility continuing in US markets, those early gains were short-lived and the Index sliced through all levels of support down to a new 2018 low at 1050.64, losing nearly 17 points or 1.6%.

Alexco Resource: Not just a silver optionality play for silver bugs

In the latest episode of Discovery Watch, responding to listener's question about Alexco Resource (AXR) John Kaiser notes that the company is working on a pre-feasibility study for its high-grade Keno Hill Silver District in the Yukon. However, given the project's economic dependence on a higher silver price, the prospect of a PFS sometime next year is not what excites Mr. Kaiser about the stock.

Still no insider confirmation of a bottom

Our INK US Indicator moved up slightly last week to 64% Wednesday, at which point there are 6.4 stocks with key insider buying for every 10 with selling. Given that the indicator is still on the rise, we have yet to see peak insider buying that typically occurs near market bottoms. Just as we see a lack of confirmation from our indicator that a durable floor has been established for stocks, we also fail to see confirmation from financial stocks.

 

You can build the case that we are in the early stages of a bear market

Updated - Bear market forces are building according market historian Bob Hoye from ChartsandMarkets.com. In his latest interview with Jim Goddard, Hoye points out that the world stocks outside of the US hit their highs in January, the month after the bitcoin bubble blew out. Those peaks foreshadowed the setup for a potential bear market in stocks.

INK Canadian Insider Index dips, but bounces hard from 1059.22

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index slid as far as 1059.22 for a 25 point decline before fighting back strongly, to finish the week down just 5 points at a close of 1077.52.

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