Got crushed on my stocks last week, but are up this morning :
Valeant pulls down TSX; resource and bank stocks weigh
http://ca.reuters.com/article/busine...0SO1F220151030
Quote:
TORONTO (Reuters) - Canada's main stock index fell sharply on Friday, pushed lower by a slump in Valeant Pharmaceuticals International Inc VRX.TO after it cut ties with a specialty pharmacy accused of helping it inflate revenue, and by retreats in heavyweight banks.
The most influential single weight on the index was Valeant, which fell 17.7 percent after it said it will sever ties with Philidor Rx Services in the wake of criticism over the relationship between the two closely associated companies.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 262.71 points, or 1.90 percent, at 13,529.17. All 10 of its main groups fell. It lost 3 percent on the week but gained 1.7 percent through October.
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I finally got my commission check last week from work, plus I also got my dividend checks from my investments, I put that into cash, as well I'll fund from savings to make a buy if there is any downward move again on stocks. China is still slowing and that will for sure push stocks down. If that's the case, I'm gonna use inverse financial eft's (leveraged) to hedge my investments in case of further moves down and to protect my position (and profits if any) will be used accumulate more shares in blue chips. Things get wild this week, I push more into EFT's, if things stabilize, I'll go into Blue chips. Right now cash just waiting on the sidelines to see what moves the market will make.