Insights: The stalemate continues

Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

May 6th, 2020

Insiders are resisting an all-clear narrative. While our short-term insider sentiment indicator is confirming that March 23rd was a short-term low for stocks, our main 60-day INK Indicator has yet to send a confirmation. When our 60-day indicator peaks, it signals peak insider buying which often coincides with a significant support level for stocks. As such a peak is not yet clear, we view the recent rally off the early spring low as a retracement in a bear market.

The 60-day INK Indicator (dark blue line) has yet to put in a clear peak

Because there is the potential that the INK Indicator confirmation signal is late, we will keep in mind our core investment theme #2 - slowly positioning for an eventual bottom in share prices. Unfortunately, we believe there is a greater risk that the signal is right. Until we get a clear sense of the G-economy coming out ahead of a D-economy scenario, we will take the side of caution as is being signalled by the refusal of our INK Indicator to confirm a March 23rd floor.

Last week, neither D nor G-economy indicators that we watch won the week. On the plus side, the inflation-sensitive and mid-cap oriented INK Canadian Insider Index had a good week, advancing 4.7%, helped by a rebound in oil stocks. However, after a strong start to the week, silver was unable to gain any significant ground against gold. Meanwhile, US treasury inflation-protected securities backed off a touch. We will be keeping an eye on these factors along with credit spreads and insider sentiment for indications that the stalemate between the D and G-economies is about to end.

Running Sneakers | Women's Nike Air Force 1 Shadow trainers - Latest Releases , Ietp

Top 3 Gainers Last Week

Company NameStock Symbol1 Week Return %
Whitecap ResourcesWCP32.8
Kelt ExplorationKEL27.7
Exchange IncomeEIF15.3

Top 3 Losers Last Week

Company NameStock Symbol1 Week Return %
DREAM UnlimitedDRM-3.1
Teranga GoldTGZ-2.7

Returns are as of the last trading day of the previous week.

Featured Clip

Insider of the Week

W. Brett Wilson, Independent Vice Chairman of the Board of Maxim Power (MXG)

Former Dragons' Den panellist W. Brett Wilson recently spent $1.85 million picking up shares at Maxim Power where he is the vice chairman. Maxim is the fourth-ranked stock in our May Top 40 report and we highlighted Mr. Wilson's buying and provided an update on the progress of the construction of Maxim's M2 power plant in our May 6th morning report.

INK Canadian Insider Index

1 Year Total Return Performance

Historical Performance

Annualized Total Return as of May 6, 2020 04:49 pm
1 Year -19.42%
3 Years -7.62%
5 Years -1.89%
10 Years 4.60%

To learn more about the Index please visit

5 Year Total Return Performance

Join the discussion in INK Chat!