I think we're still in a bull market for commodities and the fact that we are pausing or correcting a bit is healthy.
People own banks for consistency of results. Dividends keep increasing, that's what the banks are giving investors.
We were so strong yesterday that I think there is a natural inclination to sell a little bit off. But this is a dip to be bought rather than to be sold into.
These commodity stocks, including the base metals, are still below their all-time highs, so I think they will play some catch-up here.
The Canadian market will be volatile because of its high exposure to commodities. But even at all-time highs it's still worth investing in stocks, because the general outlook is still good.
The fact is the market went up a lot, and whenever there is a reason to take profits, people will take profits.
I think they're definitely looking for asset management companies in the U.S.. Certainly, they have a shareholder base that's confident of their ability to do a large acquisition without any hiccups.
There is more to it than just the natural resources story. If you look at the Canadian economy, it looks very good.
I think it is psychologically significant.
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