pitaking

Canada vs. U.S. - Whose Banks Are Safer?

As a Canadian living in the heart of the real estate and commodity bubble near Calgary, I'm looking at shorting most of our banks. The collapse that's occurred in the US and Europe in the first innings here and housing and commercial real estate are in free fall and our consumers are as over extended as any where in the world. As for commodities, junior miners and drillers are going out of business daily and our tax shortfalls will be massive from the lost revenue, not to mention our quickly growing trade deficit. As far as a technical trade, most canuck banks are sitting on or near their 52 week lows. Anyone considering a long position needs a very big time horizon in my opinion, the trend is lower for 2009.