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Message: Dwonward Pressure Today

Dwonward Pressure Today

posted on Dec 17, 2007 08:30PM

Two issues pushing the share price down a bit today: 

1.  General market condition

TORONTO (Reuters) - The Toronto Stock Exchange's main index closed broadly lower on Monday due to a sharp selloff of resource issues and persistent worries over the health of the U.S. economy.

The resource-heavy materials sector led the fall, shedding 3.8 percent. The group was pulled lower by gold miners, despite a bounce in the price of the commodity.

Barrick Gold fell 89 Canadian cents, or 2.3 percent, to C$37.67, and Centerra Gold was down 47 Canadian cents, or 4.1 percent, at C$10.98. The gold-mining subsector as a whole lost 4.5 percent.

2.  Year-end tax loss selling

Both of these are temporary and I expect we will see upward movement in the SP again very soon.  

Lion 

 

 

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