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The Canadian insider blog discusses news and insight found among insider and significant shareholder filings in Canada.
 
Ted Dixon is co-founder and CEO of INK Research. He is the creator of the INK Canadian Insider Index, and is the editor of the daily Morning INK and weekly Market INK reports. He is a regular contributor to the Globe and Mail's Globe Investor pages and has also worked as a part-time lecturer in corporate finance at the British Columbia Institute of Technology. Before starting INK, he worked at the Connor, Clark & Lunn Financial Group where his responsibilities included portfolio strategy and product development. He has also been an analyst at the Fraser Institute and a treasury specialist at the TD Bank. He is a Chartered Financial Analyst and member of CFA Vancouver. He holds an MBA in Financial Management from the University of Chicago, and a Bachelor of Commerce from UBC. Listen to his weekly economic commentary on Vancouver's Roundhouse Radio FM 98.3.
 
Victor Wong is a business and client development associate at Canadian Insider and an avid market watcher.
 
Nicholas Winton contributes technical commentaries on the INK Canadian Insider Index. Nicholas also writes the High on the Hog blog.

 

 

Insider sentiment signals US stocks still likely to get cheaper

American insider sentiment is climbing which suggests the trend is for stocks to become cheaper. That is good news for investors with patient cash and looking for bargains, but bad news for long bulls who hunger for a quick turnaround in stocks.

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Insiders bet the market is too cold on American Hotel Income REIT

Insider buying is starting to jump on the back of the recent sell-off. In fact, there are so many stocks making our INK Edge screens, we will not have the time to cover them all in the morning report by year's end. So, make sure to keep an eye on our INK Edge feature updated on the website early every morning. One stock where insiders are buying big is American Hotel Income Properties REIT LP (Mostly Sunny; HOT).

Double trouble for cannabis stocks? Double down on REITs?

Last Wednesday in an a post, we noted that our 30-day Pharmaceuticals Indicator had peaked on Tuesday. As it turned out, the indicator has since moved back up and peaked again. This adds an extra degree of uncertainty to the prospect that a base for the group may have been established. Once the 30-day indicator moves below the 60-day indicator we will have a bit more confidence that investor anxiety has settled down in the space.

 

Celente predicts more protests and stock market trouble ahead

The anti-establishment movements such as what we have seen in France and Italy are growing and will continue into the New Year says Gerald Celente from the TrendsJournal.com. In a wide ranging interview with Jim Goddard on This Week in Money, Celente also suggests weakness in the housing market is a bad omen for the entire economy.

INK Canadian Insider Index Freefalls 3.1%

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 resumed its rapid downhill sleigh ride.  The Index opened lower last week and after being unable to break above 1050, continued to head down, influenced by world market weakness and tax loss selling (which ends December 27th for Canadian stocks).  The Index tumbled 32.71 points for a 3.1% loss.

Mish Shedlock watching for a break of 2,600 on the S&P 500

In his latest interview with Jim Goddard, economist Mish Shedlock notes that all the major US indices are in correction mode and warns about a bear market that could last for years. 

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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.

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