HXD, Shorting Canadian Stocks (TSX)

 

The Canadian market has been especially weak the past few weeks, failing to make new highs despite gold, oil and many other commodities skyrocketing which would normally push Canadian stocks higher.

We're effectively shorting the Toronto Stock Exchange's top 60 stocks via HXD.

HXD trades in Canada on the Toronto Stock Exchange, and we'll place and initial sell stop at $5.25 on an intra-day basis. 

We have an existing position in HXD, diarized in 2017 at $6.95  With this entry, we'll double our holding and bring the average cost down to roughly $6.33 

HXD closed today at $5.71 

Click here to read about HXD and of course forgo this entry if it's not within your risk tolerance, bearing in mind it's a 2x levered instrument.

Here's a look at the TSX:

A drop to, or near, the green up trend is reasonable to expect.

 

 

 

 



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