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The Week of August 31st to September 6th, 2015 "A Brief Look Back Into Tomorrow" Good Day The new trading week began on Monday, August 31st with investors somewhat

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Published by , 2016-09-15 20:00:03

The Week of August 31st to September 6th, 2015 A Brief ...

The Week of August 31st to September 6th, 2015 "A Brief Look Back Into Tomorrow" Good Day The new trading week began on Monday, August 31st with investors somewhat

The Week of August 31st to September 6th, 2015
"A Brief Look Back Into Tomorrow"

Good Day

The new trading week began on Monday, August 31st with investors somewhat
mesmerized by the previous weeks action that saw the major North American
markets drop by record amounts one morning only to rally back and end the week
higher and wondering, if like lightning, if the same sort of action might happen again.

Technical analyst Ron Meisels - "August 24th's action clearly indicated a selling
climax but probably not the selling bottom....A potential October low could occur
either with a successful retest of the recent low, or with a decline that reaches a
slightly lower low before the next up-leg." (For a complete copy of this report please
contact [email protected])

Warren Buffet's Berkshire Hathaway (BRK.A-N) announced the world's largest holding
company had acquired an 11% or US$4.48-billion interest in giant American
petroleum company Phillips 66 (PSX-N).

While on a similar note - the price of crude oil and petroleum stocks rallied after the
U.S. Department of Energy lowered its domestic oil production figure by 130,000
barrels-a-day and OPEC indicated it was willing to discuss "level playing field"
production cuts with other producers.

And still related - The International Energy Agency (IEA) calculates that the median
baseline cost of producing solar energy power has dropped by $300 in the past 5-
years to just US$200-a-megawatt-hour, much closer to the current US$100-a-
megawatt-hour cost for coal, natural gas & nuclear power.

Blyth Inc. (BTH-N) shares' soared higher by over 104% to US$3.04 on word the direct
sales company had agreed to a US$98-million buyout from the Carlyle Group (CG-N).

Tuesday, September 1st began with Statistics Canada reporting that the economy
shrank by an annualized 0.5% in the second quarter, marking the second
consecutive quarter of negative growth that officially, or unofficially (depending on
one's vantage )puts the country in a recession.

Industry sources reported that American auto sales improved in August to a better
than expected annualized 17.5-million units.

Restaurant conglomerate Cara Operations (CAO-T) announced they were purchasing
New York Fries for an undisclosed amount.

Pengrowth Energy (PGF-T) and Penn West Petroleum join the growing list of
petroleum companies to announce dividend cutbacks.

Dollar Tree (DLTR-Q) shares' fell by over 10% to US$7.83 when the discount retailer
failed to impress the street with its 2nd quarter financials.

Oil was in the media again on Wednesday, September 2nd when the National Energy
Board (NEB) reported that although it was encouraging that Canadian exports of
crude to countries other than the United States rose by 25% in the 2nd quarter to
26,277 barrels-a-day, they were still well below the 117,829 barrel-a-day exported in
the same quarter just one year ago.

The shares' of Synergetics USA (SURG-Q) surged up by over 50% to US$6.59 on word
the precision surgical device company was being taken over by industry favourite
Valeant Pharmaceuticals (VRX-T).

Vera Bradley (VRA-Q) shares' rose by almost 28% to US$13.34 when the handbag &
purse manufacturer reported better than expected 2nd quarter financials.

Thursday, September 3rd saw the decimated iron ore stocks get a bit of a refreshing
lift after mining giant Rio Tinto (RIO-N) saw increased iron ore demand going out to

Statistics Canada reported the country's trade deficit fell by almost 27% in July to

Millennial Media (MM-N) shares' surged up by almost 30% to US$1.74 on news the
mobile advertising company had agreed to a US$240-million take-over by AOL.

Friday, September 4th had the markets focuses on employment figures with
Statistics Canada reporting that the country created a better than expected 12,000
new jobs in August although the unemployment rate did rise by 0.1% to 7.0%. On the
American side, the U.S. Labor Department reported they created a less than
expected 173,000 new jobs in August and their unemployment rate fell by 0.1% to a
7-year low of 5.1%.

Smartphone manufacturer BlackBerry Ltd. (BB-T) announced it had purchased
secured technology company Good Technology in a cash deal of USS$445-million.

United States driving is cheap going into the Labor Day holiday weekend as according
to the U.S. Energy Information Administration, gasoline is selling for an average 11-

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year low of US$2.44-a-gallon.

Descartes Systems Group (DSG-T) at $23.39, Mad Catz Interactive (MCZ-T) at $0.71,
and Whistler Blackcomb (WB-T) at $22.50 found new TSX 52-week trading highs
while DragonWave (DWI-T) at $0.25, O'Leary Canadian Diversified Fund (ODI.UN-T) at
$9.86 and TransAlta Corp. (TA-T) at $5.93 all fell to new 52-week trading lows.

For the Week - The Dow Industrials lost 3.25% to 16,102, with the S&P 500 Index off
by 3.42% to 1,921 and the NASDAQ Exchange down by 2.78% to 4,684. To the
baseball fevered north, the TSX Composite Index fell by 2.75% to 13,487 and the TSX
Venture Exchange gave back 1.07% to 553.

With commodities, gold bullion was off by 0.71% to US$1,122, with copper down by
0.85% to US$2.32, while crude oil rose by 1.78% to US$46.02 and natural gas
dropped by 2.57% to US$2.65. Overall, the CRB Spot Commodity Index improved by
a marginal 0.25% to end the week at 406.

The Canadian dollar was 0.45% lower against the American dollar to finish the week
at US$0.7540.

And the closely watched CBOE Volatility Index or VIX rose by 1.48-points to end the
week at a fairly nervous level of 27.53.

And Finally - Manulife (MFC-T) announced they are introducing "voice biometrics
natural language technology" into their automated phone system that will eliminate
the need for clients to use passwords or PINs to access their accounts.

And Finally, Finally - The Week is taking a short time off to visit family in
Saskatchewan. If all goes according to plan this publication will once again appear in
your inbox on or about Monday, September, 21st.

Rod Blake, AScT
Investment Advisor
[email protected]

Farzaneh Peiro
Investment Advisor Assistant
[email protected]

T: 604.643.7597

Looking for investment or trading ideas? Give us a call, we can help. Toll free 1-800-663-

To view previous editions of “The Week”, “Articles of Interest” or to learn more about
us please visit our website at

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Our mission is to maximize the value of your portfolio through a dedication to investigation,
research and innovative ideas, and to enhance your investment experience by providing the
highest level of attention to detail and service available in the financial community.

Sources: Bloomberg, Thomson Reuters, MarketWatch, Globe & Mail, Wall Street Journal, Dow Jones,
Financial Times, National Post,, Credit Suisse, and StreetAccount.
Disclaimer: This publication is a general market commentary and for informational purposes only, it
does not constitute a research report and does not contain investment advice. This commentary has
been prepared using sources believed to be accurate and true. This material is not complete
information respecting any security and therefore is not a sufficient basis on which to base an
investment decision.
The information contained in this commentary is drawn from sources believed to be reliable, but the
accuracy and completeness of the information is not guaranteed, nor in providing it does Rod Blake,
Canaccord Genuity Corp. or its subsidiaries, or affiliated companies, assume any liability. This
information is current as of the date appearing in this commentary, and neither Canaccord Genuity
Corp. nor Rod Blake assume any obligation to update the information or advise on further
developments relating to these securities. This commentary is intended for distribution in those
jurisdictions where Canaccord Genuity Corp. Rod Blake is registered as advisors or dealers in
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arrive late or contain viruses. Canaccord Genuity Wealth Management is a division of Canaccord
Genuity Corp., a Member of the Canadian Investor Protection Fund.

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