Search
Generic filters
Search in excerpt

Un FNB pour chaque investisseur.

HSAV

FNB Horizons Compte maximiseur d’espèces

Prix
$106.05
$0.17
0.16%
Valeur liquidative
$104.1737
$0.0136
0.01%

Indices

Catégorie de Société - Rendement Total

Aperçu du FNB
En savoir plus sur HSAV

QQCC

FNB Horizons Options d’achat couvertes NASDAQ-100

Prix
$9.92
$0.16
1.64%
Valeur liquidative
$9.9784
$0.2207
2.26%

Active

Options D'achat Couvertes

Aperçu du FNB
En savoir plus sur QQCC

HAC

FNB Horizons à rotation saisonnière

Prix
$26.20
$-0.20
-0.76%
Valeur liquidative
$26.2505
$-0.0925
-0.35%

Active

Stratégique

Aperçu du FNB
En savoir plus sur HAC
Explorer tous les produits
Search
Generic filters
Search in excerpt
Retour à Médias

Is It Really Just a ‘Glitch’?

knight.jpg  

BY: NICOLAS PIQUARD, CFA®, VICE-PRESIDENT, PORTFOLIO MANAGER AND OPTIONS STRATEGIST, HORIZONS ETFS

January 4, 2019

Trump’s pronouncement of last month’s market action as a “glitch”, reminds me of Monty Python and the Holy Grail.

A well-known scene in that film depicts a sword fight between King Arthur and the Black Knight – the latter of whom, according to Wikipedia, “suffers from unchecked overconfidence and a staunch refusal ever to give up.”

As he is being utterly beaten by King Arthur, the Black Knight fails to recognize the seriousness of the situation – referring to his lost limbs as flesh wounds and scratches. It sounds like the Black Knight would be good at writing tweets on behalf of Trump.

The fact of the matter is, when the stock market reaches new lows at the end of the year (in December when we normally see rallies), the picture for the following year is most often terrible. As the chart below indicates, the stock market has been down by18% on average during the years following those in which new lows were reached in December.

Despite poor risk signals since November, I had hoped to see a Santa Claus rally going into the end of the year and to watch out for positive stock action in January. Unfortunately, Santa never showed up this year for stocks, and that may be a worse sign than ever.

When The Stock Market Makes New Lows in December
The Following Year Is Not Pretty!

1927 to 2018

Year of December
Low (Date)
Following
Year
Recession
Year?
The Following Year's S&P 500 Returns
Q1 Q2 Full Year
12/17/1930 1931 Yes -8.80% 3.32% -47.07%
12/17/1931 1932 Yes -9.98% -45.44% -14.78%
12/29/1941 1942 No -7.83% -4.49% 12.43%
12/14/1973 1974 Yes -3.66% -11.84% -29.72%
12/20/2000 2001 Yes -12.11% -7.26% -13.04%
12/17/2018 2019 ??? ??? ??? ???
Average     -8.48% -13.14% -18.44%

 

Source: The Chart Store (www.thechartstore.com)

Chart sourced via: https://twitter.com/jessefelder/status/1075429420897366016

The views/opinions expressed herein may not necessarily be the views of Horizons ETFs Management (Canada) Inc. All comments, opinions and views expressed are of a general nature and should not be considered as advice to purchase or to sell mentioned securities. Before making any investment decision, please consult your investment advisor or advisors.

Mots-clés
Non classifié(e)

Get Horizons insights in your inbox

"*" indique un champ obligatoire

Veuillez indiquer si vous êtes :*
* Indique un champ obligatoire

Publications connexes

À Horizons ETFs, nous croyons que l’éducation est synonyme d’autonomisation. Nous nous efforçons de fournir aux investisseurs canadiens les connaissances et les outils dont ils ont besoin pour naviguer dans le monde des placements. Qu’il s’agisse des connaissances de base sur les FNB ou de sujets plus complexes comme le fonctionnement de notre gamme de fonds inverses et à effet de levier, notre bibliothèque d’apprentissage exhaustive vise à être accessible à tous les investisseurs, des débutants aux spéculateurs expérimentés!