No Excitement Today

Markets are somewhat cautious today after a volatile week. I don’t think there are a lot of people that want to take big positions especially ahead of this mornings auto sales numbers and construction spending due out at 10am. Once those numbers come out I hope the market will then settle into a direction, but my feeling is that the markets will hold off until Monday.

Here in Canada, the Liberals paid tribute to there out going leader Paul Martin yesterday and will turn their attention to the process of picking a new leader today. Today’s agenda includes speeches from all the leadership candidates and a first ballot. After the first ballot is where things really start to get interesting.