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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-08-18 N/A A Comment -- General Comments From an Expert
A Commentary
Norman Levine

Markets.  The chaos in Washington does nothing for him in terms of investing.  Both Obama and Trump had legislative gridlock.  A lot of what Trump has talked about has done nothing financially because congress has not wanted to play along.  He keeps waiting for ‘this great correction’ to happen in the US.  Valuations have gotten out of hand.  While the DOW has been hitting new highs, it has been because of AAPL-Q and BA-N.  If you look at an equal weight index, it has been going down.  The Canadian economy is probably one of the best in the world, but because our market is mostly financials and resource/materials, it has been one of the worst in the world.  The rising dollar has taken away any foreign gains you had and the rise in interest rates has taken from your fixed income investments.  Canadian investors have the worst of all worlds.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: _N/A
2017-08-18 N/A A Comment -- General Comments From an Expert
A Commentary
Jon Vialoux

Markets.  We are in the most volatile time of year for the equity markets.  It is a slower time of year and economic activity is diminished.  The headlines are affecting it as we are past the earnings season.  The new season is turning out to be very volatile.  North Korea is nothing new either, but investors are grasping onto that because there is nothing else.  From a technical perspective we are seeing cracks in the longer term S&P.  We broke a rising trend line yesterday.  From a low in July we tend to see the VIX rise and it causes erratic trading activity in the market.  Opportunities to buy are created if you want to add to your portfolio.  We dipped below the rising trend line that was supporting markets in the S&P.  Investors are becoming risk adverse.  Breadth and momentum are decreasing.  Gold is the classic volatility play.  You tend to see a rise through to October.  This year we are bumping to resistance about $1300.  We cracked it today.  It just takes a number of cracks to make it break all together.


Price: $0.020
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: _N/A
2017-08-18 N/A A Comment -- General Comments From an Expert
A Commentary
Jon Vialoux

Nat Gas projections.  The period of season strength is September through to December.  We have seen below average demand in the summer because it has not been a very hot summer.  There has not been that consumption that can lift prices higher.  We have a head and shoulders pattern this year.  Support is about $2.64.  If you get a break on that you see a dip of significant magnitude ($1.50).  He has not seen a bearish pattern play out to that magnitude.  We are expecting a colder than average winter.  We still have lots of time to watch it.  Just sit tight for now.


Price: $0.020
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: _N/A
2017-08-18 WATCH A Comment -- General Comments From an Expert
A Commentary
Jon Vialoux

S&P – where is the support level?  We don’t have the setting for a dramatic sell off.  It will be an orderly sell off of 5-10%. 


Price: $0.020
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 WATCH Apple
AAPL-Q
Jon Vialoux

It had a positive trend.  The gap is $155 and that was previous resistance.  There is a level of support below the market.  If it breaks below that the next level of support is $140 and then $130 so there is potential downside.  The headlines regarding the upcoming launch are supporting it.  That event is very seasonal in nature.  It should dip, selling on the news, in mid-September.  Then we have to see what the sales are on this new product. 


Price: $157.500
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 DON'T BUY Air Canada
AC-T
Norman Levine

You should never own airlines for the long term.  They are extremely cyclical industries.  They have done a wonderful job of taking costs out of their operations.  AC-T had a huge run and he does not know how long it will continue.


Price: $22.450
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 DON'T BUY Applied Materials
AMAT-Q
Jon Vialoux

The optimal time to buy is between December 1st and Feb 21st, producing a 10.86% return normally.  We have seen some problems this year.  There was a constant rising trend line.  It has been a great run, but now we have a short term double top at $47.50.  The lower limit is $42 and if we break that support there would be a further $5 move down.  We are out of the period of seasonal strength.  It should decline 10% before the end of October, seasonally.


Price: $44.300
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 COMMENT Amazon.com
AMZN-Q
Norman Levine

People believe this is going to kill all of retail.  They do not yet make a profit.  They make amazing sales, but don’t worry about making profits.  There was a time when people thought Wal-Mart would take over the world and drive other retailers out of business.  Retailers learned how to deal with and compete with Wal-Mart.  They adapted their operations.  He believes the same thing will happen with AMZN-Q.  It will not go away, but not take everything over either.


Price: $958.470
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 TOP PICK Arc Resources Ltd
ARX-T
Norman Levine

Oil and gas company, mostly natural gas, mostly in BC.  A lot of that is explaining why it is acting as it is in the short term.  It has a secure dividend.  The problem is that it is in BC. He likes natural gas.  Buy things when they are beaten up.  They don’t yet pay a dividend and he does not see one until at least 2020.  They will benefit from rising interest rates.  (Analysts' target: $69.50).


Price: $15.790
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 BUY Alimentation Couche-Tard (B)
ATD.B-T
Norman Levine

He owns PKI-T instead.  ATD.B-T is international and is way bigger.  They make more of their money from convenience store sales.  When the economy softens they don’t do as well.  They did a number of large acquisitions last year and the market wants time to digest them.


Price: $60.740
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-08-18 HOLD Boeing
BA-N
Norman Levine

One of the two stocks that has been propelling the Dow.  Whether that continues remains to be seen.  Defense stocks in general have been doing well and the airline industry around the world has been doing well also.  This one has been doing well and he would almost be a seller of it now.


Price: $235.770
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 HOLD Bank of America
BAC-N
Norman Levine

If you are a long term investor, the financials are good, although they are rolling over in the short term.  He is not as big a fan of the major city banks as of the regional banks.  He would keep it.


Price: $23.620
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 PAST TOP PICK Badger Daylighting
BAD-T
Norman Levine

(Top Pick Sept. 9/16, Up 0.65%)  He bought it when it was about $5 as an income stock.  They’re not as big in oil now, but in municipalities.  This year it had a slow January.  The next two months were so good that they started to build more trucks.  Last week it reported excellent results.  But a short seller went very vocal.  He feels this is a great long term hold.


Price: $27.440
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 TOP PICK Brighthouse Financial Inc.
BHF-Q
Norman Levine

It is a brand new company.  It is the retail division of Met Life, who will continue with institutional life insurance.  BHF-Q is doing variable rate annuities and personal insurance.  The stock went down because some sold off the stock they received from the split up because they did not want to be bothered with it.  (Analysts’ target: $69.50).


Price: $57.450
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 PAST TOP PICK BankUnited, Inc
BKU-N
Norman Levine

(Top Pick Sept. 9/16, Up 6.84%)  It went bankrupt during the crisis and was rescued and recapitalized.  It is headquartered in Florida and takes retail business, but is mainly a commercial bank.  It is dependent on loan growth more than interest rate growth.  Loan growth has been a little sluggish, but he feels it will go up.  He is putting new clients into it.


Price: $32.850
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 PAST TOP PICK Cara Operations Ltd.
CARA-T
Norman Levine

(Top Pick Sept. 9/16, Down 22.60%)  He is disappointed.  They have a big exposure to Alberta and the impact from oil is going down.  Same store sales are starting to stabilize.  It is too cheap to see it here, but it has probably seen its bottom.


Price: $22.900
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 HOLD CASH
CASH
Norman Levine

He has some of his clients’ money in high interest savings accounts.  It is an important investment asset.  If you are fully invested all the time and an opportunity comes along you have to sell something.  Your sell decision should be independent.  The longer you are in a market cycle, then the more likely you are to have a market correction.  He is 10-15% cash for his clients.


Price: $0.010
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 DON'T BUY Cineplex Inc
CGX-T
Norman Levine

He has never owned it because he is one of their best customers.  He has been finding that it is difficult to decide what to go and see and sometimes he considers not seeing anything.  They cannot pick and choose what to sell.  If it is a great movie season they benefit, but if it is bad they suffer.  The movies are the tail that wags the dog.  He has yet to see where this movie season is going to turn around.


Price: $40.150
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-08-18 SPECULATIVE BUY Cineplex Inc
CGX-T
Jon Vialoux

It is a falling knife.  It has had a collapse failing its recent earnings report.  It has a gap.  It is very oversold right now.  You could potentially play a rebound trade, but it would be very short lived and volatile.  A trend has broken.


Price: $40.150
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 WATCH Corus Entertainment (B)
CJR.B-T
Jon Vialoux

Buy Nov 25th and sell Feb 18th.  It produces about 6.5%.  It has really done not too much this year and it is bumping up against resistance.  We want to see a break above $14.  It raises some warning signs, but you could apply a bottoming pattern.


Price: $13.740
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 BUY on WEAKNESS Canadian National R.R.
CNR-T
Norman Levine

It is the best run railway in North America.  They need increasing volumes in products and commodities to move.  They have a big exposure to cross boarder business and not so much to commodities.  Hopefully NAFTA stays as it is.  The dry weather out West could be bad for them.  Buy as they sell off.


Price: $100.000
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 DON'T BUY Facebook
FB-Q
Jon Vialoux

NFLX-Q vs. FB-Q. Two of the fang names have taken us thus far.  He would prefer Netflix.  It gapped up to $160.  FB-Q is bumping its head on rising trend line resistance.  He expects a retracement here.  He prefers NTFLX-Q.


Price: $167.410
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 TOP PICK FedEx
FDX-N
Jon Vialoux

The high shipping season is end of year.  Buy August 27th and sell November 29th(Analysts’ target: $235.00).


Price: $206.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-18 TOP PICK Goldex Resources Corp.
GDX-T
Jon Vialoux

It is 67% cash.  We saw a crack on the price of gold – we cracked the line of resistance.  Seasonal strength is end of July to end of October.  We see early signs of producers outperforming the commodity.  It is a play on volatility, which is seasonal this time of year.  The Indian tax on gold will prevent the bounce in the commodity. 


Price: $0.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-18 WATCH Gilead Sciences Inc.
GILD-Q
Jon Vialoux

The seasonal strength is June 10 to October 24th.  The average is 15% over that period.  We did have a nice break of declining trend line resistance.  We do have a declining trend line and we are not out of the woods yet.  He would hope it could find some support.  If it holds $70 you want to be buying it.


Price: $72.110
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 BUY Gorman-Rupp
GRC-N
Norman Levine

The world’s largest manufacturer of industrial pumps.  It is the third generation of the family that are running it.  It has increased its dividend 44 years in a row.  What has held it back in the last couple of years is that they move fluids and some of it is oil and the weakness in that industry has hurt them.  That part of the business is starting to improve.  Their latest quarter was better than expected.  This will be a good long term stock to own.


Price: $26.990
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 PAST TOP PICK iShares Nasdaq BioTech ETF
IBB-Q
Jon Vialoux

(Top Pick Jun 28/17, Down 4.04%)  Season strength is June to September for Biotech.  It is the ramp up ahead of cold and flu season.  It broke a significance line and we are re-testing it.  Momentum has come out of the name in the last three weeks.  There is the continuous overhang of high drug prices in the US.  If it cannot hold $300 then get out of it.  It is no longer supported as a seasonal trade and he would get out of it.


Price: $304.060
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-18 WATCH Inter Pipeline
IPL-T
Jon Vialoux

It is being driven down by interest sensitivity in some of these stocks.  It is deriving its value from what interest rates are doing.  You would want to be increasing your holdings in these stocks, but because it has been dropping off, you have to watch. 


Price: $22.680
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 DON'T BUY Manulife Financial
MFC-T
Norman Levine

He owns others instead.  It comes down to quality of management and an ill-timed acquisition of John Hancock.  It continues to underperform and they may now spin it out or sell it.  It continues not to be a good performer.  They have hedged away a lot of the benefit they will get from rising bond prices.


Price: $24.500
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-08-18 BUY Netflix Inc.
NFLX-Q
Jon Vialoux

NFLX-Q vs. FB-Q. Two of the fang names have taken us thus far.  He would prefer Netflix.  It gapped up to $160.  FB-Q is bumping its head on rising trend line resistance.  He expects a retracement here.  He prefers NTFLX-Q.


Price: $166.540
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 HOLD Open Text
OTEX-T
Norman Levine

A Software stock that he has owned for some time.  They are a consolidator, merging in companies and taking their costs out.  It was a buying opportunity when they slipped off after a bad quarter.


Price: $40.190
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 WATCH Priceline.com Inc.
PCLN-Q
Jon Vialoux

The PE is 38 times earnings and 22 times forward earnings.  The optimal time to buy is September 25th with a sell date of April 30th.  It should return 23.92% according to seasonal averages.  This year it had a gap lower.  It had a parabolic rise this year and so you expect that to alleviate.  $1728 would be the ideal point to pick it up at.


Price: $1810.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 TOP PICK Pentair PLC (Ireland)
PNR-N
Norman Levine

They are in two main businesses: Electrical and Water solutions.  They are going to split the company in two in 2018.  They have raised their dividend for 40 straight years.  (Analysts' target: $67.00).


Price: $60.970
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-18 PAST TOP PICK Purpose High Interest Savings
PSA-T (Not List
Jon Vialoux

(Top Pick Jun 28/17, Up 0.13%)  It is basically a high interest savings account.  A great place to park cash.  A 1% rate of return savings product.


Price: $0.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-18 TOP PICK Purpose High Interest Savings
PSA-T (Not List
Jon Vialoux

It was a previous past pick.  You sit in cash and look for opportunities. 


Price: $0.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-18 WAIT SSR Mining
SSRM-T
Jon Vialoux

We are in the period of seasonal strength for gold and it gives rise to sliver.  The time to purchase silver is mid December to end of February.  That is because it is an industrial metal.  They are resisting at the top end of the descending trend line.  It is getting enticing, but he would still wait.


Price: $12.440
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 WATCH Stantec Inc
STN-T
Jon Vialoux

It is an easy name to trade.  You have support and resistance over a few years.  $28 to $37.  We had a double bottom recently.  He expects $2 above that range if it breaks out.  He is shying way from construction names at present because the seasonality is not strong this year.


Price: $33.280
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 HOLD Toronto Dominion
TD-T
Norman Levine

He is not big on TD-T, but prefers BNS-T because it is less exposed to Canada and he likes the emerging markets exposure.  He is not that excited about Canadian banks because of the lack of loan growth and the housing question overhanging them.  The rising Canadian dollar takes away from the US operations. 


Price: $63.730
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 SELL Teck Resources Ltd. (B)
TECK.B-T
Norman Levine

He has trouble buying this one low and selling high.  This is generally a trade.  It is not going to run up again and so it is probably a better sell than a buy.


Price: $29.340
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 DON'T BUY Tesla Motors Inc
TSLA-Q
Norman Levine

It loses money and there is no prospect in the near future.  Its business is heavily subsidized by governments.  He does not like that.  There is a lot of work to be done before this market changes.


Price: $347.460
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-18 BUY Visa Inc.
V-N
Jon Vialoux

The optimal time to buy is now (starting Aug 6).  It has been positive for 8 years.  It has done well over those 8 years they have been tracking it.  We spend more going into the Christmas season.  He does not expect this tendency to end any time soon.  If you can pick it up a $97.50 in a pullback then great.


Price: $102.510
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: Unknown
2017-08-18 PAST TOP PICK BMO Dow Jones Indus. Avg. Hedge ETF
ZWA-T
Jon Vialoux

(Top Pick Jun 28/17, Up 0.73%)  The Dow has been the place to be.  It has been a great hold.  He likes the covered call aspect for the summer.  You can collect the extra yield in that time. 


Price: $21.220
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: OPTIMISTIC
Owned: No
2017-08-17 N/A A Comment -- General Comments From an Expert
A Commentary
Bruce Campbell (1)

Markets.  It is pretty quiet and he has been down to 3/4ths staff some days.  Trading volumes in the markets are down these days.  The repatriation of cash may now not happen and that is pressuring the S&P.  Year to date the US is up but in CAD$ really it is not.  Canadian markets are flat also.  Banks look attractive.  Energy is cheap, but you have to believe in the price.  The rest of the Canadian market is actually up.  Canada is not as cheap as it appears and you have to be a stock picker.


Price: $0.020
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: _N/A
2017-08-17 N/A A Comment -- General Comments From an Expert
A Commentary
Gordon Reid

Market. This has been an impressive earning season off the 1st quarter, which was actually more impressive. We were up over 15% in the 1st quarter and over 10% in the 2nd quarter. Earnings are certainly driving this market, and validating the market. The VIX has been at historic lows. Today, we saw the market paying attention to what was happening in Washington. The worry is that the exodus of CEOs in the last few days, might be followed by Trump’s inner circle within the White House. The US economy is on solid footing. Companies are investing and spending again. Far too much attention is paid to politics and policies. Companies are taking advantage of a resurgence in global growth. We are in the procyclical market, which tends to last for a while, and are in the early stages of that move.


Price: $0.020
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: _N/A
2017-08-17 COMMENT Amgen Inc.
AMGN-Q
Gordon Reid

A fabulous company and has done very well, but their drugs are very mature and make up a very large piece of their total revenue and portfolio. They are spending a lot of money on R&D which has some promise, but no guarantee that they are going to be able to replace the revenue flow. The stock is trading at about 12X earnings. Prefers something that has more current opportunities and a deeper pipeline.


Price: $167.810
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Unknown
2017-08-17 COMMENT Amazon.com
AMZN-Q
Gordon Reid

A bit of a tough analytical exercise. CEO truly marches to his own beat and doesn’t care what Wall Street analysts think about his results, and doesn’t view the calendar as some sort of reason to start or end. In many cases, corporate America has fallen prey to the short-term, myopic view of success, quarter to quarter to quarter. Business isn’t built that way. However, it is very difficult to understand or predict in what direction he is going. Cash flow is growing dramatically. Earnings are all over the place. Capital expenditures are skyrocketing. He would prefer Facebook (FB-Q) instead.


Price: $960.570
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: No
2017-08-17 BUY Algonquin Power & Utilities Corp
AQN-T
Bruce Campbell (1)

It’s an acquirer, mostly in the US, for growth.  There is a rumour they are about to make another acquisition.  If so, then the stock goes higher eventually.  It is a 3-5 year hold.


Price: $13.380
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 PAST TOP PICK Alimentation Couche-Tard (B)
ATD.B-T
Bruce Campbell (1)

(Top Pick Jul 12/16, Up 6.45%)  We are going to see Circle K everywhere in Europe. 


Price: $61.140
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 PAST TOP PICK Boeing
BA-N
Gordon Reid

(A Top Pick September 7/16. Up 83.03%.) This has done fabulously well. They are in full production with the 737 and the 787, and has really become a cash flow story. Recently sold this based on “price exhaustion”, where a company does everything you expect of them, but the price rises to such a point that the valuation becomes extreme. Right now, it is trading at about 150% of its normalized multiple. It normally trades at 15-16 times earnings and is now trading at 23-24 times.


Price: $235.590
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: No
2017-08-17 BUY Bank of America
BAC-N
Gordon Reid

This is early days for this bank. It still trades well below BV. Earnings are going to really grow dramatically as the yield curve steepens and interest rates start to rise.


Price: $23.640
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 SELL Baytex Energy Corp
BTE-T
Bruce Campbell (1)

(Market Call Minute)  A challenged balance sheet.  Get something with a better balance sheet because you might have to hold it for some time.


Price: $3.170
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 WEAK BUY Canadian Apartment Properties
CAR.UN-T
Bruce Campbell (1)

Mr. Swartz passed away in the last couple of days after being ill.  That is why you saw dislocation.  Along with other REITs it took a hit from higher rates.  It is okay to hold.  He would not want to hold retail REITs.


Price: $33.790
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 BUY on WEAKNESS Cineplex Inc
CGX-T
Bruce Campbell (1)

He sold it.  They can only do so much.  They are trying to diversify.  By 2020 they want to be only one third exhibition business.  They had an earnings miss.  They spent captial, but have not realized the benefits yet.  If they miss next quarter that is the buying opportunity.  Buy it in thirds over the next 3-5 years.


Price: $41.840
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 TOP PICK Cardinal Energy Ltd
CJ-T
Bruce Campbell (1)

It is an oversold E&P.  They did a financing that got messed up and then repriced.  The circumstances really floored the stock price.  It has almost a 10% yield, but it is not a red flag.  The issue was at $5.75.  Fundamentals will drive it higher.  (Analysts’ target: $6.75).


Price: $4.080
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 WEAK BUY Canadian Imperial Bank of Commerce
CM-T
Bruce Campbell (1)

The high beta Canadian bank.  They have most of their expsosure to Canada.  They put on the most new Canadian mortgages over the last two years.  If you are confident that everything is okay then it is fine.  He as a different pick in the Top Picks today.


Price: $106.670
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 BUY Canadian National R.R.
CNR-T
Bruce Campbell (1)

(Market Call Minute)  Get it under $100 if you can buy.  It is a nice offset if you own pipelines.


Price: $101.210
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 COMMENT Crescent Point Energy Corp
CPG-T
Bruce Campbell (1)

(Market Call Minute)  It will rebound nicely eventually.


Price: $8.680
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 DON'T BUY CSX Corp
CSX-Q
Gordon Reid

Hunter Harrison is controversial because he comes in with very strong ideas on how to create efficiencies and get operating ratios down. The multiple on the stock, in anticipation of Hunter Harrison coming in, grew to the point where it was probably trading at a 70%-80% premium to the normal multiple. They did a reasonable job in bringing the operating ratio down. He likes areas that are a little less controversial, where people work in a conciliatory way. The company has some inherent difficulties, such as a fairly large coal portfolio. He would look at Union Pacific (UNP-N) instead.


Price: $48.880
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: No
2017-08-17 HOLD CVS Health Corp
CVS-N
Gordon Reid

This whole space has been challenged, as well as a bit of an Amazon (AMZN-Q), but doubts that will happen. As we get older, people are taking more and more pills. However, we are moving away from patented medicines towards generics, which have lower margins attached to them. About a 3rd of their business is dedicated to a Pharmacy Benefit Manager, an insurance middleman, to act on behalf of individuals to get better prices. They have 10,000 locations in the US, including deals with Target. Bought Omnicare, which services old-age homes. Will write over a billion subscriptions in 2017.


Price: $78.890
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 PAST TOP PICK Dycom Industries
DY-N
Gordon Reid

(A Top Pick September 7/16. Down 6.9%.) This is in the business of basically wiring North America for 1 Gb streaming of data transmission. We are all looking for “more”, which comes in the form of a more complex data packet, and certainly streaming. Everybody is getting into streaming and we are watching movies and TV shows on computers and mobile devices. We need the transmission infrastructure to do that, and this company does that. Management is confident that over the long-term, they can grow EBIT (earnings before interest and taxes) at a 15%-16% annual clip. This makes this a very compelling long-term buy. Be patient.


Price: $80.540
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 TOP PICK Dycom Industries
DY-N
Gordon Reid

This company is going to do very well over time. Management thinks they can create a runway of 15% growth year-over-year in earnings before interest and taxes. The stock price doesn’t reflect that. We are going to have a wire line plant in the US. It has to happen. Management explains this as a decade long project. (Analysts’ price target is $115.)


Price: $80.540
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 HOLD EnerCare Inc
ECI-T
Bruce Campbell (1)

They are doing very well with acquisitions in the US.  It is starting to get expensive here.  If you like it for the yield then it is perfectly fine to hold it.


Price: $20.790
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 DON'T BUY Eldorado Gold
ELD-T
Bruce Campbell (1)

ELD-T is all international: Greece, China and Turkey.  They have had political problems in Greece, and Turkey is not exactly stable.  He sold 5 years ago because of the volatility.  You are getting way away from gold and it is not portfolio insurance, but execution risk.


Price: $2.370
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 TOP PICK Enbridge
ENB-T
Bruce Campbell (1)

It traded at a 5 year high yesterday.  They are raising the dividend 12% through 2020.  Yield and growth.  It has pulled back to a nice entry point.  (Analysts’ target: $62.00).


Price: $49.610
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 COMMENT Ford Motor
F-N
Gordon Reid

A tough space, simply because auto peak sales have shown themselves in North America. There is some resurgence in auto sales in Europe and emerging markets. Although this company is doing well on a unit basis, it isn’t doing all that well on profitability. The good news is that they are coming out with a refreshed F150, their backbone, which will be good for them.


Price: $10.640
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Unknown
2017-08-17 HOLD Fortis Inc.
FTS-T
Bruce Campbell (1)

He likes it and it is well managed.  You need a company that is going to grow its dividend.  It is a growth/yield play. 


Price: $45.530
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 DON'T BUY Goldcorp Inc
G-T
Bruce Campbell (1)

It had always been his favourite senior, but they had operational difficulties.  It has not come back.


Price: $16.700
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 DON'T BUY General Electric
GE-N
Gordon Reid

This is at a crossroads. The CEO is on his way out. Revenues, over the last 15 years, grew a total of 7% per share, and cash flow and earnings were flat. The street is looking for close to $2 per share in 2018, and thinks that will be revised down significantly. The stock is starting to anticipate that and is falling from the high $20s into the mid $20s. He would rather buy this on the way up at $25-$27.


Price: $24.750
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Unknown
2017-08-17 COMMENT Gilead Sciences Inc.
GILD-Q
Gordon Reid

The potential for this company is for them to use their cash in a positive way. They have about $30 billion of cash on the balance sheet, which represents about 35% of their total market cap. This cash has been acquired because of their hepatitis C portfolio. The drug cures, but costs about $100,000 in the US. However, it is covered by most medical plans. Their opportunity is to make some good acquisitions with their cash hoard.


Price: $72.340
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Unknown
2017-08-17 PAST TOP PICK Home Depot
HD-N
Gordon Reid

(A Top Pick September 7/16. Up 14.66%.) This is benefiting from a variety of things, not the least of which is household formations and housing starts increasing. We are still below trend, which over the last 3, 4, 5 decades, has been between 1-2 million starts per year. We need 1-1.5 million to keep up with the growth of the population, and we are currently at about 1.1 million.


Price: $149.670
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 TOP PICK Honeywell International
HON-N
Gordon Reid

A premier industrial. Great management and a strong balance sheet. They have about 38%-40% in aerospace. They provide products for the home, as well as to industrial operations. Dividend yield of 1.9%. (Analysts’ price target is $146.)


Price: $135.850
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 BUY on WEAKNESS American Hotel Income Properties
HOT.UN-T
Bruce Campbell (1)

Tied to the railroad industry, mid-west US.  They made some non-rail acquisitions.  They had a mini-stumble.  This is not a bad entry point below $10.


Price: $8.990
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 PAST TOP PICK H&R Real Estate Inv Trust
HR.UN-T
Bruce Campbell (1)

(Top Pick Jul 12/16, Down 2.51%)  The cheapest valuation, trading below NAV.  He hangs on to it and this is a great entry point.  He thinks you are good for a year on REITs but not for 5 years.  Keep an eye on the rate outlook.


Price: $21.350
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 DON'T BUY Inter Pipeline
IPL-T
Bruce Campbell (1)

Average Down?  He owns others.  It is oily and Canadian and that is why it is down. He prefers something more US and more geographically diverse, he would not average down. 


Price: $22.850
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 TOP PICK Morgan Stanley
MS-N
Gordon Reid

This has sort of reinvented itself over the last couple of decades. It was primarily an institutional house, a fixed income house. Today, 44% of its business is on wealth management platform. Coming off the financial crisis, they bought Smith Barney from City. Putting those together and growing them, they are now a real force in the US in terms of wealth management. Expects earnings to grow 21% this year and 15% next year. Trading at about 1.2X Book, but well worth it. Dividend yield of 2.1%. (Analysts’ price target is $49.50.)


Price: $45.090
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 COMMENT Microsoft
MSFT-Q
Gordon Reid

Management has done a very, very good job of bringing the shine back. Their initiatives are obviously clear, and do close to 20% of their revenues in the Cloud. Their gaming offering is exciting. They are doing a good job, but when looking at the results, they are still spinning their wheels a little. This company goes up and down the valuation elevator. However, results are quite muted and they don’t change a lot, they grow incrementally. The expected changes haven’t happened yet, so you shouldn’t think that because the stock price has moved dramatically, that they have proven anything.


Price: $72.400
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: No
2017-08-17 DON'T BUY Potash Corp of Saskatchewan
POT-T
Bruce Campbell (1)

He was worried about the fertilizer outlook a year ago.  He preferred AGU-T because they were partly retail.  In a merger you have one vehicle, but a mishmash of lower dividend and more cyclicality.  He does not feel any urgency to come back to the sector.


Price: $21.900
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 WATCH Restaurent Brands International
QSR-T
Bruce Campbell (1)

He likes a nice ice cap and it is okay to eat there, but the stock not so much because of the high valuation.  If they absolutely miss a quarter on same store sales there is a lot of room for the stock to fall.  He would be interested in it after a missed quarter.


Price: $75.860
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 HOLD Pure Multi-Family REIT LP
RUF.U-X
Bruce Campbell (1)

They report differently and more conservatively than other REITs and he believes the stock got hit inordinately.  It will come back.  One quarter does not change the business outlook.  Don’t panic out of this.  It will recover.


Price: $6.300
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 DON'T BUY Shopify Inc.
SHOP-T
Bruce Campbell (1)

It is very expensive.  Look at it as a business.  It has a place.  It has a crazy multiple.  It is awfully dangerous.  It is too much of a gamble.  Take partial profits if you have some.


Price: $118.550
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 COMMENT Suncor Energy Inc
SU-T
Bruce Campbell (1)

Oil.  SU-T vs. VET-T.  They are getting a well developed trading range.  Oil could have $55 on the upside.  If oil goes back to the $50s then the sector is quite oversold.  SU-T protects you and has held up rather well.  But it does not have the same upside as VET-T.


Price: $39.580
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 WEAK BUY Telus Corp
T-T
Bruce Campbell (1)

He exited a while ago.  It is the most wireless of the three.  If you think this is the better growth area then it could be better.  A buy and hold strategy won’t get you into trouble.


Price: $44.790
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 TOP PICK Toronto Dominion
TD-T
Bruce Campbell (1)

It is safer because of the US exposure.  They have not acted like a 50% American bank.  They probably will raise the dividend in the next quarter.  (Analysts’ Target: $70.00).


Price: $63.730
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 HOLD TransCanada Corp
TRP-T
Bruce Campbell (1)

(Market Call Minute)  If it pulled back $2 more it would be in buy territory.


Price: $62.130
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 COMMENT Trevali Mining Corp
TV-T
Bruce Campbell (1)

It has been a Canadian producer of Zinc until now.  There aren’t that many zinc plays.  He owns a bigger one.  TV-T is a relatively low cost producer and 100% zinc.  They have already done well.


Price: $1.390
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 PAST TOP PICK Torex Gold Resources
TXG-T
Bruce Campbell (1)

(Top Pick Jul 12/16, Down 22.42%)  They are in Mexico and are a low cost producer.  They have higher grade material they have discovered that won’t come on stream for a couple of quarters.  They showed an earnings miss a couple of quarters ago and it makes this a great entry point.  This is his only gold holding. 


Price: $19.220
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Yes
2017-08-17 BUY Visa Inc.
V-N
Gordon Reid

This has a very constructive chart. On the back of great fundamentals, this company quarter in and quarter out, produces somewhere around a 20% growth of earnings and cash flow. Very well-managed. The company doesn’t take any credit risks. That lies with the originating sponsor such as a bank. It is really a transaction company and they do a tremendous number of transactions to the point of $1.9 trillion. Acquired Visa Europe, which was a strategic and good move for them.


Price: $102.160
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: Yes
2017-08-17 COMMENT Vermilion Energy Inc
VET-T
Bruce Campbell (1)

Oil.  SU-T vs. VET-T.  They are getting a well developed trading range.  Oil could have $55 on the upside.  If oil goes back to the $50s then the sector is quite oversold.  SU-T protects you and has held up rather well.  But it does not have the same upside as VET-T.


Price: $38.640
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 DON'T BUY Valeant Pharmaceuticals
VRX-T
Bruce Campbell (1)

He missed the Up and the Down.  It is stabilizing and now becoming a regular company again.  It is too unstable still for him.  He owns a Danish Pharma and thereby misses the volatility of this one.


Price: $18.180
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: No
2017-08-17 DON'T BUY Wal-Mart Stores Inc.
WMT-N
Gordon Reid

Just reported earnings and beat consensus, but the stock faltered, probably because of a succession of lower expectations. They’ve done fairly well, especially in North America, in terms of same store sales and working hard on their online offering. Bought a fairly large online company and integrating it, taking Amazon (AMZN-Q) on full tilt. He would pass on this. There are a lot of unknowns, wage inflation and getting near full employment, and they have a very large labour force, mostly of minimum wage workers. 2.5% dividend yield.


Price: $79.700
Subject: US EQUITIES
Bias: OPTIMISTIC
Owned: No
2017-08-17 DON'T BUY Yamana Gold Inc.
YRI-T
Bruce Campbell (1)

They are debt ridden and out of favour.  They overpromised and underdelivered.  The sellers leave after it goes down.  The volatility decreases.  He would prefer other golds such as a past pick today.


Price: $3.470
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-17 HOLD Sleep Country Canada Holdings
ZZZ-T
Bruce Campbell (1)

(Market Call Minute)  It is relatively expensive.  Good management, growth and earnings, however.


Price: $34.070
Subject: CANADIAN LARGE
Bias: SELECTIVE
Owned: Unknown
2017-08-16 N/A A Comment -- General Comments From an Expert
A Commentary
David Burrows

Market. Has a strong belief that we have been in a secular bull market for equities that got underway in 2013 when it took out the 2,000 highs in the US. We probably have a persistent rising market for quite a long period of time, but with some interruptions. A correction was ended in February 2016, which probably opened a window for 2-3 years of a pretty low volatility market. Seasonally July, August, September are the 3 toughest months of the year. It is interesting though that the month of July is much better than seasonal. Historically, if July is good, then August and September are less volatile than typical, which has been the case so far. Over the last 3-4 weeks, in equity markets globally, the work he does around risks has shown an uptick in risks as breadth, the percentage of stocks doing well, has been deteriorating. That always causes him to get a little more cautious. He doesn’t expect significant downside. Over the next month or 2 you could see 3%-5%. However, given that July was a strong as it was and that the economic data is improving and the earnings have been very, very good, he wouldn’t expect that kind of pullback, but it is possible. Thinks people don’t fully understand that not only are earnings beating, but this quarter was the best beat for both revenue and earnings since 2010. Earnings estimates are being revised higher. The market is handling new very, very well, and that is a great indicator of the health of the market.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2017-08-16 N/A A Comment -- General Comments From an Expert
A Commentary
Christine Poole

Market. When Trump was first elected, sentiment was very positive. Pro-growth policies would be put in place. So far, he is not accomplished anything, and it is somewhat discouraging that the councils are being disbanded, as he would be getting good advice from various CEOs. It is somewhat encouraging that nothing has been put through and markets are continuing to go higher, especially in the US. It has really been driven by profit growth. We are now trading above historical averages and we really need to see proper growth come through, which it is doing. Second quarter earnings is just winding down and have come in stronger than expected, double-digit year-over-year. Expectation was around 7%. What is more encouraging, is that we are also seeing growth in the euro zone economies. Japan is even growing now. China seems to be stabilizing. To her, equities still remain the asset class of choice if investors can withstand the volatility and the risk associated with them.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2017-08-16 COMMENT Altaba Inc
AABA-Q
Christine Poole

For now, this just represents their position in Alibaba (BABA-N), so it is kind of a reflection on how Alibaba is doing. Alibaba is doing very well, but the valuation is very high and very difficult to assess a downsize if something goes wrong.


Price: $60.650
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 COMMENT Agnico-Eagle Mines
AEM-T
Christine Poole

A gold producer, and she doesn’t own a lot of gold equities. If she decided to increase her weighting in gold, this would be a name she would go to.


Price: $58.970
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 COMMENT Altagas Ltd
ALA-T
Christine Poole

Owns this in a few accounts. It is a midstream company. The yield is very attractive. In this past week, she has noticed all of these energy infrastructure names, including the pipelines, have been pulling back. This represents an attractive entry point for people who want income. Dividend yield of 7.6%.


Price: $27.660
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 TOP PICK Brookfield Asset Management (A)
BAM.A-T
Christine Poole

An alternative asset manager with over $250 billion under management. They invest for their shareholders and clients into 4 general areas. Property, renewables, infrastructure and private equities. In those sectors, they are looking for real assets that have a long life that are able to generate a stable stream of cash flow. A very good track record of making money for shareholders and their clients. Globally diversified, so a good opportunity for Canadian investors to get a position in a company that has the relationships and resources to bid on large infrastructure projects. She likes that senior management owns a very high percentage of stock. Dividend yield of 1.4%. (Analysts’ price target is $45.)


Price: $49.390
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 COMMENT Blackstone Group LP
BX-N
David Burrows

There are 4 or 5 key themes that have legs in front of it over the next number of years. The most important one, beyond tech and industrials, is probably financials. Within financials, you have insurance, banks, regional banks and asset managers and capital market companies. If you believe we are in a long-term bull market for stocks, you want to own asset managers. It is an area that has growth and has not been highly priced. Prefers Blackrock (BLK-N) over this, and an active manager over a passive manager.


Price: $32.170
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 COMMENT CAE Inc
CAE-T
Christine Poole

Flight simulation and training. It is on her watch list. In a good space, because there is an increasing demand for their products. Feels it is fully valued right now.


Price: $20.780
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 PAST TOP PICK Cineplex Inc
CGX-T
Christine Poole

(A Top Pick Aug 16/16. Down 13.43%.) Reported last week and the stock got hit fairly badly, and is down 15% since it reported. A very attractive opportunity to get into the stock. They closed down about 11 theatres to retrofit the seating, which should benefit them in the future. Thinks the company is trying to diversify away from the theatre base. Dividend yield of about 4%. If you don’t own, she would use this pricing to build a position.


Price: $42.520
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 HOLD Crescent Point Energy Corp
CPG-T
Christine Poole

Owns a bit of this in some of her client’s portfolios from before the energy prices started to fall apart in 2014. The stock has done very poorly on the reflection of energy prices, but also has underperformed its peers. When energy troughed out in February 2016 at $26-$27, this was around $16. Now energy is up $47 and the stock is at $9. Their balance sheet is relatively strong. They have an attractive yield and she doesn’t anticipate that they are going to cut the dividend unless there is continued weakness in crude oil prices. Dividend yield of 4.2%.


Price: $8.660
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 SELL Canexus Corp
CUS-T
David Burrows

This has had tremendous momentum in revenue growth and sales growth. Provides logistics software to large multinational companies to help them manage delivery of product to customers. In a company that has had high momentum, if you disappoint you get punished. It appears Samsung is not going to continue to pay for their product. If you own, use its recent strength as an exit.


Price: $1.640
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 BUY Dow Chemical
DOW-N
David Burrows

One of the themes that is starting to play out is materials, and chemicals would be included in this. This company has lots of opportunity. The economy is growing nicely and their business is improving. You get a very nice 3% dividend. If the US economy continues to perform, the stock is going to do well. It recently pulled back to $63, which is a great opportunity to buy it.


Price: $63.940
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 BUY Enbridge
ENB-T
Christine Poole

This is an attractive entry point. They acquired Spectra. Enbridge is typically more of a crude oil pipeline. Spectra is natural gas, and is all US, so it expanded their geographic scope as well as diversifying their commodity base. The company indicated that they feel they can grow their dividend 10%-12% annually to 2024.


Price: $49.440
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 TOP PICK ETrade Financial Corp.
ETFC-Q
David Burrows

He wants to benefit from both a long-term bull market in equities and rates going slowly higher over the next number of years. This is one of the first discount brokers. It has a very strong brand in the US. Because the US investor is becoming re-engaged, their growth rate has really picked up over the last year. They’ve grown their brokerage account by 5.7% and trading revenues are up 27% so far this year. They have $50 billion in daily deposits, and as rates go higher, make a higher and higher profit margin on that. This is a consolidating industry, and this company could be a target. (Analysts’ price target is $45.)


Price: $40.420
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 COMMENT Facebook
FB-Q
David Burrows

Facebook (FB-Q) or Netflix (NFLX-Q)? These are both dynamite companies with great opportunities in front of them. If he had to choose one over the other, he would choose this one. He considered using it as a Top Pick today. Looking out over the next year, Facebook has so many different engines that are running, and almost none of them are dependent on another company. Netflix has huge growth in subscribers globally, but is still somewhat dependent on 2nd or 3rd party contracts.


Price: $170.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 PAST TOP PICK Fortis Inc.
FTS-T
Christine Poole

(A Top Pick Aug 16/16. Up 12.58%.) Continues to like this. It has held up well relative to a lot of other interest sensitive names. She likes the US acquisition they did earlier on. Dividend yield of about 3.5%.


Price: $46.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 TOP PICK Fortive Corp
FTV-N
David Burrows

A $22 billion industrial company. Their products are in 3 basic spaces; 1) software and hardware for industrial sensors 2) telematic hardware and software for transportation tracking and 3) tools and components for automation of manufacturing. All pretty attractive if we think there could be spending on automation. Dividend yield of 0.42%. (Analysts’ price target is $67.50.)


Price: $66.150
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 WAIT General Electric
GE-N
Christine Poole

The stock has really underperformed its industrial peers as well as the market overall. A new CEO is coming in. The previous CEO did a lot to decrease exposure to the financial services division. The issue going forward is that they have to find something to replace those earnings. She would wait for the new CEO to come on board, to see what his vision and plans are, and what areas he wants to expand in.


Price: $25.100
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 COMMENT Hudbay Minerals Inc.
HBM-T
David Burrows

Materials is a group that is starting to look more attractive. Global growth is picking up, starting in the US, but spreading to the rest of the world. China is doing a little better. Some of the metal producers are starting to perform well. This stock has based over the last 1.5 years and has been improving relative to the market since June. He would have no trouble owning this today. (See Top Picks.)


Price: $10.260
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 TOP PICK Home Depot
HD-N
Christine Poole

She likes home improvement. It is really about US housing, recovery, turnover, the age of the housing stock. All those factors benefit this company. As employment improves and consumer confidence improves, people will spend more on their home. Two thirds of the housing stock in the US is over 30 years old, and about half is actually over 40 years old. They just reported and had good numbers. Dividend yield of 2.3%. (Analysts’ price target is $175.)


Price: $152.250
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 BUY Honeywell International
HON-N
David Burrows

For a couple of years, the talk has been about the Internet of Things and companies that benefit. Given that the US manufacturing economy is improving, but with very, very old equipment, there is money being spent to upgrade. This company builds instruments that measure things and are connected to the Internet. (See Top Picks.)


Price: $138.080
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 BUY H&R Real Estate Inv Trust
HR.UN-T
Christine Poole

A good entry point. It has pulled back quite a bit, and for no fundamental reason. Generally, rising interest rates are not that favourable for REITs, but she is not anticipating a sharply rising interest rate environment. They are in commercial as well as some residential in the US. A well-run company. Dividend yield of 6.5%.


Price: $21.210
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 HOLD Intertape Polymer Group
ITP-T
Christine Poole

A tape manufacturer, so they are going to follow a lot of what is going on with industrial packaging. A pretty well-managed company. In an environment where industrial activity and economies are improving, this company should do well.


Price: $20.150
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 COMMENT Johnson & Johnson
JNJ-N
Christine Poole

A diversified health care company with pharmaceuticals, medical products and consumer products. She likes this. It is well diversified. Their Pharma division is doing quite well. It has a very strong triple A balance sheet. They typically increase their dividend and has done so for the last 50 years. Growth has been improving because of their pharmaceutical division. Valuations are still reasonable. For the long-term, this is a very good holding.


Price: $134.170
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-16 COMMENT KKR & Co. LP
KKR-N
David Burrows

This is in the private equity space, and he would prefer public equities today, where you pay a lower price. However, this company will do just fine.


Price: $18.380
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-16 COMMENT McDonalds
MCD-N
Christine Poole

She prefers Yum Brands (YUM-N) whose franchises are Taco Bell, Pizza Hut and KFC. McDonald’s has done well and is a good company with good standing internationally.


Price: $158.900
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 COMMENT MacDonald Dettwiler & Assoc.
MDA-T
Christine Poole

A satellite manufacturer. Has owned this in the past. Growth has been lumpy in the US. They’ve recently done an acquisition which will increase their growth prospects, so she is watching and monitoring to see how the acquisition gets digested, and potentially she could buy it back at some point.


Price: $68.630
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-16 PAST TOP PICK Mondelez International
MDLZ-Q
Christine Poole

(A Top Pick Aug 16/16. Up 5.28%.) Owns this for the long-term sector of the consumer in emerging markets. As people make more money, they are increasing demand for packaged goods. This is the global leader in chocolate, biscuits, candy and gum. About 40% of their revenue comes from emerging markets which are starting to see some growth.


Price: $44.190
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
Showing 1 to 120 of 167,465 entries
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