Canada's Economy is in Trouble | Chris Vermeulen & Jimmy Connor
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- Опубликовано: 26 авг 2024
- Technical Traders Newsletter thetechnicaltr...
Jimmy Connor and Chris Vermeulen discuss what to expect in the coming weeks and months.
Chris Vermeulen writes an independent, tactical ETF investment signal alert newsletter with a disciplined approach to helping you achieve your financial and lifestyle goals sooner with our unique Asset Revesting Strategy.
At the Technical Traders, we trade and invest differently. It’s a significant change from traditional investing. Our Consistent Growth Strategy generates reliable, above-average returns with a fraction of the portfolio volatility and risk compared to active trading and the buy-and-hope methods.
WAIVER & DISCLAIMER
If you register for this webinar/interview you agree to the following: This webinar is provided for information purposes only. All opinions expressed by the individuals in this webinar/interview are solely the individuals’ opinions and neither reflect the opinions, nor are made on behalf of, Bloor Street Capital Inc. Presenters will not be providing legal or financial advice to any webinar participants or any person watching a recorded version of the webinar. The investing ideas and strategies discussed on this webinar/interview are not recommendations to buy or sell any security and are not intended to provide any investment advise of any kind, but are made available solely for educational and informational purposes. Investments or strategies mentioned in this webinar/interview may not be suitable for your particular investment objectives, financial situation, or needs. You should be aware of the real risk of loss in following any investment strategy discussed in this webinar/interview. All webinar participants or viewers of a recorded version of this webinar should obtain independent legal and financial advice. All webinar participants accept and grant permission to Bloor Street Capital Inc. and its representatives in connection with such recording. The information contained in this webinar/interview is current as of July, 2024, the date of this webinar/interview, unless otherwise indicated, and is provided for information purposes only. Bloor Street Capital was paid a fee for this Interview.
Do you agree or disagree with Chris' assessment of what's to come? Are you Bullish or Bearish? Let me know in the comment section below. I always like to hear from our viewers.
I am waiting to hear why he thinks Canadian banks are in trouble.
@@arnoldvilleneuve8397 Chris thinks the real estate market will collapse. I recently did an interview with David Rosenberg and he goes into more detail on the Canadian real estate market.
@@BloorStreetCapital For my wife and I we realize at this point there is pain with missing out and pain if we chase. So for now we’ve chose to put all our money into 4-5% yielding stable funds like SPAXX. I just can’t get over the increasing debt burdens of all our American cities, school district debt, county debt, state debt, federal debt, student debt, personal and corporate debt, rising housing foreclosures, rising bankruptcies, the Chinese economy crashing etc…I could go on and on.
Im curious what his funds annual return is .
I am in the manipulation camp, I think the market will go up until the elections
I don't understand why so many people in the comments are hostile. No one is forcing you to watch these videos
I love content like this. It’s great to see that there are still plenty of bears out there.
@@TheJermiester It's Jimmy Connor, thanks for the positive comment and for taking the time to view our content!
Complaining is the lowest and easiest form of participation.
Chris Vermeulen is always a pleasure to listen to. Pleased to discover you and your excellent interviewing skills as well!
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier. As a reminder, we release interviews every Saturday at 10am ET.
This guest is very level headed and I have always appreciated his input. His tone of capitulation on a pullback is very telling and thought provoking.
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Thank you for your presentation today.
It's Jimmy Connor, thanks for the comment Arnold and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Thanks Jimmy and Chris! Interesting comments on Canadian real estate but when you look at Royal Bank chart it indicates no problems yet.
It's Jimmy Connor, thanks for the comment Jamie and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Chris, manages my funds he’s extremely knowledgeable and has a great team .
It's Jimmy Connor, thanks for the comment and for taking the time to view our content!
Great stat on the number of cranes in Toronto, I think you said 200 versus 50 in LA. If that is true we could see a real estate melt down in Toronto
It's Jimmy Connor, thanks for the comment Michael and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Or we are just too lazy to lift things up !
I think the S&P500 will reach 6,000 then go into correction of 10%.
I originally thought this would happen in September but then I feel the faster it goes up the sooner. That’s why people are saying this summer for the correction.
The pull back in recent wks in tech is because of profit taking. People don’t want to own shares in Apple or NVIDA long term. It’s more quick fast money in 2024.
Once the correction is finished people will buy tech again. Just my opinion.
Thomas - London.
It's Jimmy Connor, thanks for the comment Thomas and for taking the time to view our content! It is always nice to hear different perspectives on things.
With Case Schiller PE ratios where it is we went 100% cash 7-5-2024. We aren’t gambling with this insanity. Playing it safe.
Agreed! You just never know what the catalyst is but its coming.
RUclipsrs scared me into cash last year. There is too much confusing information in the media.
It's Jimmy Connor, thanks for the comment Shane and you raise a good point. The important thing is to listen to as many divergent points as possible and be aware of what's happening in the economy. Over the long term the market will be higher but during unusual times like we are experiencing now you have to be prepared. Try not to get caught up in the doom and gloom but get as many opinions as possible and then do what you think is best, not someone else.
Follow the charts. DO NOT LISTEN to anyone they will just confuse. Charts make things very clear !!!
I'm the exact same. Have slowly been moving into boxx, usfr. 64% now in cash. 20% in tech but it's hard when all the videos are that the market will crash and enter a Japan like (non) recovery decade.
Lol
Great interview, thank you Jimmy!
It's Jimmy Connor, thanks for the positive comment Hugo and for joining our RUclips Premier today.
We’ve topped for now. Q3 has already turned bearish.
It's Jimmy Connor, thanks for the comment Jay and for joining our RUclips Premier today. The Q3 numbers will be interesting to say the least. As a reminder, we release interviews every Saturday at 10am ET.
Anytime you see a 2% pullback on QQQ, that’s a warning. Happened in December of 2021 too when the Fed minutes were released.
It's Jimmy Connor, thanks for the comment Doug and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Real estate market is definitely slowing down. Would love to see someone who can speak to the hard facts and how much banks are at risk as per loan books. Thanks
It's Jimmy Connor, thanks for the comment Danny and for joining our RUclips Premier today. Check out our last interview with David Rosenberg. He spends a lot of time on Canadian economy and the housing market.
The last time the S&P surged 30% in 30 weeks was 1929.
It's Jimmy Connor, thanks for the comment! That's a great stat!
The other parallel with 1929 is with the length of the yield curve inversion. It's hard to get good daily timeseries from yields 100 years ago, but I believe the stat is the 10yr 2yr spread was negative for ~700-710 days and only uninverted when the Fed took emergency action right after the October 1929 two-day crash. Apart from a few 5-10 day spikes, our 10yr-2yr spread has been negative since September 2022... coming up on a similar milestone.
The S&P surged 50% in 30 weeks in 2020.
Hopefully that doesn't happen but the economics are so screwed up right now it's probably necessary, there's no easy way to fix this mess. They can't paper over this one without disaster
@@machoheadgames8854 good point. Thanks
Thank you very much for the lesson!
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier. As a reminder, we release interviews every Saturday at 10am ET.
Thank you!!
It's Jimmy Connor, thanks for the gratitude and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
I am your fan , Chris 😊😊😊
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! As a reminder, there is a direct link above which will take you to Chris' website.
Chris thinks tlt (bonds) will go up and stocks will go down? What's his expectation for tlt? Rates going down? If so, will it not push stocks up? Typically bonds react to rate cuts first but stocks follow almost right after. So I'm confused what he's trying to say here.
It's Jimmy Connor, thanks for the comment/question! This is my interpretation...stocks are in bubble territory driven by the AI thesis. Many people including David Rosenberg (check out my interview) believe the economy is slowing down faster then the Fed thinks and by the time the Fed reacts it will be too late...the economy will be deep into recession. The Fed, along with other CBs will cut aggressively and this will be bullish for TLT but because the economy is in a recession, this will be bearish for stocks.
It's a boat time to get oat of the market! I'm canadian!
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Most of our viewers are Americans so good to see some Canadians who care.
What were the unmarked red and green indicators on the left that were spiking when the stocks were overbought?
Did you not ask him about the IWM? It was the biggest mover and story for the week. Plus his whole bearish thesis was tied to the SPY going up while the IWM underperformed.
It's Jimmy Connor, thanks for the comment/question Kevin! I did not ask him about IWM because I think its irrelevant. Small cap stocks are not performing for many reasons, one of which is cost of capital is too expensive. Stay away.
@@BloorStreetCapital a 6% up move in 2 days based on the future cost of capital going down seems very relevant
Oh! This interview is from )3-19?
It's Jimmy Connor, the interview was recorded on July the 12th! Why did you think March?
Market is a sell it did 20% from 4800 it makes it around 5750. 4800 was a top on 1/4/2022 and other top 4800 on 12/21/23
It's Jimmy Connor, thanks for the comment! Your target is very close to Chris' of 5800 with a potential of 6100. Time will tell! As a reminder, we release interviews every Saturday at 10am ET.
@@BloorStreetCapital I do not see 6100 let’s not go crazy and trapped by this bull market . Market has structure and limits no matter what Fed does or economical data
Love your content. Subscribed.
It's Jimmy Connor, thanks for the comment and thanks for subscribing! Let me know who else you would like to see on the channel. As a reminder, we release interviews every Saturday at 10am ET.
@@BloorStreetCapital I’ll be watching 👀 you.
Trade the charts, people. What is the need to predict. Trend change takes time. Get out when it does. Calling tops is a fool’s game.
Somthing has to give!
It's Jimmy Connor, thanks for the comment Scott! It's just a matter of time and when it does, its going to be ugly! As a reminder, we release interviews every Saturday at 10am ET.
I call the top, but I do not bet against the market. He must have split personality.
Pls use time stamps
Bull forever stock never drop
He has been calling the top for months on other sites too, but is long and likes Tesla and Apple and Bitcoin!! Cant be wrong that way. If it goes down- see I told you! If it goes up, well I am long!
bro sp6900 then correct 10%. i see it
It's Jimmy Connor, thanks for the comment Albert! A 10% pullback is nothing. Do you think it goes higher after that?
thanks - agree re the condo glut in TO
Going to get real ugly!
Now put to call ratio Lowe's ever ! Sp500 to Gdp is highest ever ! Market too bullish about nothing even Aapl ? AI already in my samsung phone , not much exited ... why it will be better in Apple ?... check last week price move ! We will not to 5800
It's Jimmy Connor, thanks for the comment Andrey and for joining our RUclips Premier. This market has surpassed ever record imaginable. It will come to an end but until then we have to keep riding the wave. As a reminder, we release interviews every Saturday at 10am ET.
@BloorStreetCapital I was right ! But so many traders play too long, so they even can't even imagine the market can fall very quickly
A few weeks ago he was saying the IWM was going to roll over and crash. Iwm up 6% in 2 days breaking out of its trading range. A lot of money to be made buying small caps. IWM heading for all time highs.
Thanks nickel dick!
I think that was because folks think interest rates are going to come down and that will be good for small caps. I think the short end goes to zero really fast and the longer end of the curve goes up. NO the small caps are in serious trouble and I think over half of them go under regardless of what happens next. Folks are trying to be cute. We are seeing price rejection .. just look at the car market. This proves that everyone and especially the small caps are in serious trouble right here right now. That is my take on it.
He's been calling for a correction for weeks if not months. The market keeps going up. I'm sure there will be a minor blip then keeps going up. The 2024 Presidential election is what makes the market looking forward to moving up!
*years
Wow,thanks Forest Dump!
That's it? A Fibonacci extension?
What is so strategic abt the info Chris is sharing here?
It's Jimmy Connor, thanks for the comment/question. Do you disagree with Chris's assessment?
@@BloorStreetCapital Are you Jimmy the tennis legend? I do not have to neither! I just asked a simple question.
@@felicitymabudusha4761 Ha no I have never played tennis one day in my life. We interview people like Chris to get their perspective on the markets. We try to get a mix of people who are bullish like Ed Yardeni and people are bearish like David Rosenberg. Chris is bullish in the short term but bearish longer term.
@@BloorStreetCapital Have seen Ed a few times. The question still remains unanswered. It may never be I will accept and move on! Tnx Jim
Chris with a top off in May. Missed that. He has been wrong for a very long time calling for a big market correction. Now he is at least saying "maybe."
So go watch Gareth Soloway's predictions
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier today. It's tough being a forecaster.
@@orirosengarten2572 No , He has been even worse.
5700 is the top for now and few months ago I said sp500 will be 1500 in 4 years but now I m saying sp500 will be 1400 by mid 2028
Tom Lee said s&p will be 15000 by 2030, who should I believe
To go from 5600 to 1500 would be a 70% pullback. Im going on record saying it will never happen. 30-40% on the S&P is doable but not 70%.
@@BloorStreetCapital I will bring to your attention four years from now that it will be between 1400-1500
@@sunhuiying12Tom lee is gay
@@BloorStreetCapital remember sp500 1400 by mid 2028 . I m writing you this again do you remember .
👍🏼👍🏼
It's Jimmy Connor, thanks for the comment Joey Socks (love that handle) and for taking the time to view our content!
In my honest opinion, Chris is a fraud. I've watched multiple videos where he claims to not diversify away gains and instead only trades 4 tickers (SPY, TLT, UUP, UDN). But when the interviewer asks him about another sector or ETF he claims to be invested with gains there also (typically when asked about gold, PMs,and miners). Interviewers should be checking his portfolio and performance before broadcasting him.
Here we go again, Mr top caller
Most are so excited the more the market goes up. But what I think they are missing is the higher we go the worse the crash is going to be when it does come.
@@bpb5541 😆😂🫵🏼
We will see , none of top's before 1929, 2000, 2008, 2020 marched EWT tops
Bitcoin is a sell too
Given the market is in risk on mode it is interesting to see it come under pressure.
@@BloorStreetCapital time to sell as I shared in my comment sp500 did 20% from 4800 tops. Greed is bad
@@BloorStreetCapital can you interview me and I give many reasons that this is a top and why we will see 1400 on sp500 by mid 2028
Could it be that even MAGA can only stomach so much dishonesty?
Yeah the correction has been coming since the last correction...we need to know the exact date and time of the next one of you do know that you ain't telling us jack shit
Anyone is an expert and anyone cant say anything with conviction. We are wasting time watching them😅
It's Jimmy Connor, thanks for the comment! Always good to hear different opinions. As a reminder, we release interviews every Saturday at 10am ET.
Where is your recession ???? SP at 5700 :D :D :D
It's Jimmy Connor, thanks for the comment/question. It is tough being a forecaster.
Don't listen to this guy...he kept me out last year, luckly i got back in. go watch his old videos, hes been calling for a crash. BTW he was saying he was all in cash, now hes in the s&p and qqq??? ya right
chris has been calling for a crash for a year...now its going up before it goes down LOL, guess he got tired of being wrong
It's Jimmy Connor, thanks for the comment! It's a tough job being a forecaster.
Givin inflation, gold is flat the past 10 years.
It's Jimmy Connor, thanks for the comment! I am a believer in gold but I am very frustrated with the underperformance when compared to other assets such as bitcoin and even more so with the gold stocks. I buy gold stocks for the leverage to the gold price but they are all trading at discounts to the gold price.
@BloorStreetCapital - not only have gold and silver been heavily manipulated for years (tons of evidence), but paper trading of gold (GLD) in numbers of ounces that ridiculously outnumber any connection to actual physical trades has completely broken the supply and demand dynamic that drives true price discovery.
Those currently betting on metals and aware of the true situation are counting on the world economic situation pushing demand of physical metals to highs that surpass the ability to manipulate it. Industrial silver demand in particular is projected to double in the next few years.
You cant be bearish while saying you are playing the markets trend, which is going up. Bear/bull IS the trend. This dude is lying to himself.
Everybody has an opinion....
It's Jimmy Connor, thanks for the comment Dennis and I agree. I like to speak to as many people as possible to get their views, maybe they're right or maybe they're wrong but the more info I have the better. Let me know if there is someone else you would like to see interviewed on the channel.
The market will go up…or down.
It's Jimmy Connor, thanks for the comment and yes it will go up and it will go down but it always falls much faster when it goes down.
You don't say.
These are all BS regular guys uttering buzzwords like correction, upside, percentage points, etc. They'll tell you that the market is due a correction but don't get out of your position or short. WTH! What an intelligent analysis after calling the tops 10-20 times and yet the market went up another 5-10%. Trust me, my 5 year old can do a better analysis. BS!
Keep some cash aside to buy the crash
It's Jimmy Connor, thanks for the comment/advice! Always good to have 5-10% cash but now I'm 50% cash. As a reminder, we release interviews every Saturday at 10am ET.
@@BloorStreetCapital thanks man!
Or short it when the charts tell us too and have even more money to buy things that got crushed when the time comes!
I've learned a lot about cryptocurrency advancements and want to get involved. I'm hoping to find a good mentor.
I think all you need is an expert assigned by a brokerage company that will trade for you and handle your capital professionally and give you weekly returns of investment without any extra fees attached
Evelyn Turner is the professional that guides me and her optimal returns are really impressive
Yeah, I believe investing with a professional is the optimal approach, as it mitigates the risk of significant losses. Did you genuinely know her? I was under the impression that I was the sole beneficiary of her guidance through the challenges of trading.
Seeing a remark regarding my manager Evelyn Turner is quite energizing. It was just like this when I first met her a few weeks ago. Having started with just 4k about 2-3 weeks ago, I have already made it to 21 k. She is very remarkable!
Goodness gracious I'm so excited seeing Ms. Evelyn Turner been mentioned here also. Didn't know she has been good to other people too, this is wonderful because I also started with a RUclips referral like this
Nobody knows which way the market will go. Especially stock brokers. Boring
It's Jimmy Connor, thanks for the comment Nick! Can't argue that point but it's always good to listen to peoples perspectives.
Markets never going down again!!!
It's Jimmy Connor, thanks for the comment Jim and for the ongoing support. As a reminder, we release interviews every Saturday at 10am ET.
"I don't care if I'm right or wrong, I always follow the market. " That's the most stupid thing I've ever heard. What does that even mean? 😂 You by your own admission followed the market and you were wrong! In other words, you have the illusion that you are following the market. The reality has proved otherwise
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
You sure are smart!
Dudes been calling for a crash for years. He's a joke.
It's Jimmy Connor, thanks for the comment Jake and for taking the time to view our content!
Chris has been right about following the overall trend but very wrong with his macro calls… IWM, XBI, KRE, XHB, IYR will absolutely rip with lower rates. This isn’t the GFC II…
It's Jimmy Connor, thanks for the comment and for joining our RUclips Premier today. As a reminder, we release interviews every Saturday at 10am ET.
Notice how they didn’t go over the IWM which was up 6% on the week. It was this biggest story for the week but goes against his bear thesis.
@@kevinwright7026 up 4% in a single day when the QQQs were down 2%… not necessarily a great pairs trade but a significant indicator. All the macro tourists touting bad breadth just brush it off like it’s nothing more than a short squeeze, ain’t seen nothing yet.
This guy is double talking B.S.
Peter Lynch said it best: the only thing I know is stocks will go up some days and go down some other days. Any other opinions are just quackers!
It's Jimmy Connor, thanks for the comment/quote David! Peter Lynch is one of the best! I might steal that quote.
0:45 IN FEB he said the market will top out in May with SEVERE PULLBACK.
.
HE FAILED in Feb. He is back at it.
LOLZ
The key is don't listen to this guy. He has been saying this since January 2024. LOL
Everyone should be listening to you.Did you ever get your own place or still in parents moms basement?
@@brisom40 I can afford buying you little pu..
Click bate!
If you guys keep listening what chris said, you will lose lots of money .. do the opposite
I am somewhere between Tom Lee and Henrik Zeberg. I am prepared for a massive S&P correction this fall (Henrik) as well as a non stop ride to the moon (Tom). Thank God for calls, puts and “stop loss” orders. 😂
It's Jimmy Connor, thanks for the comment! I don't follow Tom Lee but I have done interviews with Henrik Zeberg. He is also calling for a top around 6100. To be successful stop loss orders are a must! As a reminder, we release interviews every Saturday at 10am ET.