Uh-Oh, Canada

By: InVivo Analytics Sunday, December 14, 2008 1:57 PM

Symbols: BMO, BNS, CGI, CM, RBC, RY, TBHS

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Buskas said, but the activity “coincides with our expectation that the Canadian housing market is unwinding.”

Bank of Nova Scotia pulls back on lending
Bank of Nova Scotia is pulling back on lending to consumers and warning investors to brace for softer earnings next year as the economy slides into recession.

Canadian lenders not immune
Canada’s big five banks - Royal Bank of Canada, Toronto-Dominion, Scotiabank, Canadian Imperial Bank of Commerce and Bank of Montreal - have not been immune to the turmoil in global banking.

RBC Bank swings to $103M loss
RBC Bank swung to a loss in the third quarter as the bank faced a worsening loan portfolio and losses from securities.

Bay Street looks into political abyss in Ottawa
As Bay Street looked into the political abyss in Ottawa on Tuesday, the only certainty among economists was that Canada risked sliding back down the slope to structural deficits.

Harper to address nation tonight
A defiant Prime Minister Stephen Harper will take his pitch directly to the Canadian people tonight in a televised address as he fights for his political survival.

Daily Chart with 50- and 200-day Moving Average

Royal Bank of Canada (RY)

Daily Chart with InVivo Swing Trading Tools

Daily Chart with 50- and 200-day Moving Average

The latest analyst talk is that crude oil prices will remain around the $50 level through next year. Let’s see how much of an impact this will have on Canada’s economy and its companies.

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