Cejay Kim September 3, 2015 Category: Research Since the 1950s, the S&P 500 has experienced ten bull markets and nine bear markets. The average length of a bull market has been 282 weeks, with the bear markets averaging 67 weeks.The most prolific bull market occurred during December 4, 1987 to March 24, 2000, when the S&P returned 549% over 642 weeks. To put that into perspective, the curr...Read More

Cejay Kim August 26, 2015 Category: Research 1.The divergence between commodities and the S&P 500 is at an all-time high. The recent flash crash of the S&P 500 suggests that we are nearing a closing of the gap.2.We continue to update this chart and wonder just how much longer this bear can last. The TSX Venture has now almost hit the record low it achieved during the 2008-2009 Financial Cr...Read More

Cejay Kim August 19, 2015 Category: Research No one wants to buy TSX Venture-listed companies. The numbers speak for themselves, from 2011 the total shares traded dropped from 64.5 billion to a measly 18.5 billion year-to-date. And the total value traded in those shares was down from C$42.5 billion to C$5.6 billion.You can thank the junior miners for that, who comprise 60% of the TSXV, or 1,154 of...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 5, 2015 Category: Research This cartoon, drawn by Keven Kallaugher (KAL) in 1989, was featured on cover of the Economist and it's surprising how relevant it remains.What we see is the classic case of 'herd instinct', or the mentality in which an individual lacks unique decision-making and simply acts in the same way as the majority around them. In finance, this means investors gra...Read More

Cejay Kim July 26, 2015 Category: Research Removing new issues, from 2011 to April 2015, the TSX Venture has had over1,200 casualties, or has lost over50% of its listed constituents. While new companies have been slowly replacing the dead, the index is still 320 companies lighter.Companies are still trying, but are failing. Read More

Cejay Kim July 23, 2015 Category: Research This chart seems to be making its rounds so we decided to update it. Unfortunately, since we last published it, gold has plunged even more and the TSXVentures inches closer to its largest decline ever. The length of this bear market is also staggering, in four months' time it will have encompassed the total days of all the bear markets combined.Read More

Palisade Research August 16, 2017 Category: Research In the last couple of years, we have seen the majority of commodities bottom out, finally seeing some signs of life. The majority of the rebounds occurred from late-2015 to early 2016.  Molybdenum led the pack after its mini-resurgence and subsequent fall, while nickel experienced the same path, bottoming out several months later. ...Read More

Palisade Research May 1, 2017 Category: Research Before scrolling down, take a guess at the three best and worst performing commodities of 2016 and 2017!Ok now go... 2016 was a good year for commodities. The Bloomberg Commodity Index, which is a diversified benchmark for commodity investments, gained 10%. Uranium ended the year down 41%! The nuclear sector spent much of 2016 continuing its...Read More

Cejay Kim October 21, 2015 Category: Research The S&P 500 is the most commonly used benchmark in measuring the performance of stocks. Because of the size of its constituents and the liquidity of its market, it is also used as a leading indicator of US equities in general. Thus, a lot of people look to the S&P 500 to get a feel of where stocks will trade in the future.We charted the S&P...Read More

Cejay Kim October 14, 2015 Category: Research Since the NYSE put in a top in late May, the index has dropped almost 10%. We looked around the world in order to see how the other large markets are doing.Since May 21, 2015, all the major trading centres around the world have notched losses, with the Shenzhen Stock Exchange and the Shanghai Stock Exchange leading the way, off -30.9% and -27.4%, respe...Read More

Cejay Kim September 16, 2015 Category: Research Who is Dr. Copper? He is believed to have a PhD in advanced economics because of his almost supernatural ability of predicting inflection points in the economy. He is looked at as a leading indicator because of his widespread application across industries; when copper prices decline there is a slowdown in growth and when prices increase there is a st...Read More

Cejay Kim September 9, 2015 Category: Research We are mired in almost the longest gold bear market in history. Since April 2011, the (HUI) Gold BUGS Index has declined more than 80%, while in the same period physical gold has declined 25%.Needless to the say, miners have experienced significantly more volatility than the underlying commodity. This is because gold producers are leveraged to gold pr...Read More

Cejay Kim September 3, 2015 Category: Research Since the 1950s, the S&P 500 has experienced ten bull markets and nine bear markets. The average length of a bull market has been 282 weeks, with the bear markets averaging 67 weeks.The most prolific bull market occurred during December 4, 1987 to March 24, 2000, when the S&P returned 549% over 642 weeks. To put that into perspective, the curr...Read More

Cejay Kim August 26, 2015 Category: Research 1.The divergence between commodities and the S&P 500 is at an all-time high. The recent flash crash of the S&P 500 suggests that we are nearing a closing of the gap.2.We continue to update this chart and wonder just how much longer this bear can last. The TSX Venture has now almost hit the record low it achieved during the 2008-2009 Financial Cr...Read More

Cejay Kim August 19, 2015 Category: Research No one wants to buy TSX Venture-listed companies. The numbers speak for themselves, from 2011 the total shares traded dropped from 64.5 billion to a measly 18.5 billion year-to-date. And the total value traded in those shares was down from C$42.5 billion to C$5.6 billion.You can thank the junior miners for that, who comprise 60% of the TSXV, or 1,154 of...Read More

Cejay Kim August 12, 2015 Category: Research As of June 30, 2015, the TSX Venture in aggregate has raised $1.7 billion in capital and is on pace to raise $3.4 billion by the end of the year. This is a 35% decline from last year and almost a 70% drop from 2011.The number of new issuers has also decreased substantially. There has only been 43 new listings year-to-date, versus the 122 in 2014 and 334...Read More

Cejay Kim August 5, 2015 Category: Research This cartoon, drawn by Keven Kallaugher (KAL) in 1989, was featured on cover of the Economist and it's surprising how relevant it remains.What we see is the classic case of 'herd instinct', or the mentality in which an individual lacks unique decision-making and simply acts in the same way as the majority around them. In finance, this means investors gra...Read More

Cejay Kim July 26, 2015 Category: Research Removing new issues, from 2011 to April 2015, the TSX Venture has had over1,200 casualties, or has lost over50% of its listed constituents. While new companies have been slowly replacing the dead, the index is still 320 companies lighter.Companies are still trying, but are failing. Read More

Cejay Kim July 23, 2015 Category: Research This chart seems to be making its rounds so we decided to update it. Unfortunately, since we last published it, gold has plunged even more and the TSXVentures inches closer to its largest decline ever. The length of this bear market is also staggering, in four months' time it will have encompassed the total days of all the bear markets combined.Read More