The Toronto Stock Exchange look like it is set to hit the previous high of around 15,000 points at which time my prediction is that it will take a turn downward. This could be a correction of sorts that I could profit from. The 15,000 level also looks to be a top of a cycle and from there it could very well be down hill for a while.
Though I could be wrong, the evidence sure points in that direction. Rising oil prices, uncertainty in the Middle East, food inflation and not to mention that our neighbor to the south the United States have been printing money like there is no tomorrow causing a manipulated / illusion of a recovery that will eventually blow up, causing another world recession / depression. However, these negative events will take time to play out…possibly 1 to 2 years or more.
However, in the mean time I will be watching for the 15,000 level on the Toronto Stock Exchange and when the time looks right then move into a position on the Horizons BetaPro S&P/TSX 60 Bear Plus ETF.
Keep you posted.
by Das Brain
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