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

Recent Opinions

Generated Aug 19, 2017 5:19:46 AM

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
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