Did you know that Canadian stock markets tend to rally over the American Thanksgiving? Since the NYSE and NASDAQ exchanges shut down, but the TSX and venture markets remain open north of the border, lower volume levels mean it’s easier to produce a rally on Toronto markets.
Seasonal traders like Brooke Thackray and Don Vialoux tend to recommend the U.S. Thanksgiving trade, which means you buy ahead of the holiday (like yesterday, when we saw American markets rally back up) and you hold until a few days after the American Thanksgiving.
I previously wrote about Thackray’s own advice on the so-called “American Thanksgiving trade” in an explanation of how Canadian stocks go higher over American Thanksgiving.
I don’t engage in such very short-term market trading myself, but even if you’re a buy-and-hold investor, it can be helpful to note the timing of this rally. If you were planning on buying a member of the TSX 60, you might want to note that it’s likely to have jumped up a bit over the American holiday, so it could pay to get in early – the morning of the day before the holiday, by the latest.
If you have any specific experience making this trade, let us know in the comments below.
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