Sean Boyd of Agnico-Eagle
How serious a move is this, Denis Gartman has thrown his hat into the ring by saying he will ‘sell’ Canadian stocks due to the lack of political leadership, Ed Morgan, professor, faculty of law, University of Toronto was of the opinion that this move is not so important as Parliament was due for recess anyway, you can catch his comments on BNN just click here.
In an earlier spot on BNN Sean Boyd, president and CEO, Agnico-Eagle Mines; was of the opinion that the C$ would suffer which would help Agnico as four of their mines are in Canada. The recent loan of $300 million will be spent on mine development, so its full steam ahead for Agnico. He also commented that this was weak political leadership however, Canada has strong business leadership. To see the full interview on BNN just click here and go to about half way through.
The Canadian government will present a budget in mid January and if it receives a vote of no confidence an election will be called.
This may be an opportunity to submit a few ‘stink’ bids on your favourite stocks and hope to have your orders filled later when there just might be a spike down, just our opinion of course.
We would appreciate comments from our Canadian readership if you can spare a few minutes, and of course our regular contributers, please chip in.
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