TSX Composite Index Chart – Intraday – The Midday – Valeant Stock Sinks TSX – Mar 16 2016

Mar 15, 2016 | TSX Composite Index Chart - Intraday

For FullyInformed members, here is the TSX Composite Index Midday Intraday Chart Analysis for March 16

The collapse of the TSX Composite Index today is primarily the result of a huge decline in Valeant Pharmaceuticals InternationalStock. The losses in stock valuation are staggering. Much of the rise in the TSX Composite Index in 2014 to the summer of 2015 was the result of the rise in Valeant Pharmaceuticals International Stock.

VRX Stock started 2014 at around $114 and by summer 2015 it was trading at $341 for a gain of 200%. Since then the stock has collapsed repeatedly to today where the stock plunged another 50% to an intraday low of $46.56.

Through it all analysts have been pushing the decline in the stock as “cheap”, “undervalued” and “being punished without cause”. All the analysts including many investors which includes Bill Ackman’s Pershing Square Capital are forgetting common investing practices. Always use a stop-loss or an exit valuation and only buy or add to a position, when a stock shows a bottom has been reached. Normally in a stock like Valeant Pharmaceuticals Stock it will take months to establish a bottom.

TSX Composite Index Result

The result today is a drop of 1.2% in the TSX. It is certainly not the largest drop in the TSX Composite Index this year by any measure but it is disturbing as the drop is primarily the result of one stock’s fall. Into the lunch hour the TSX Composite Index has reached what will probably be the low of the day around the 13284 valuation.

TSX Composite Index to March 15 2016

The rest of this TSX Composite Index analysis includes a number of trade ideas and information on the latest change to the TSX Market Direction Portfolio……the rest of this TSX Midday analysis is for FullyInformed Members

TSX Composite Index – Midday for March 15 2016.

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