Daily Stock Opinions and Ratings

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Gordon Higgins, CA, MBA CanWest Global Comm. CGS-X DON'T BUY Dec 22, 2008

Laden with debt. Took on debt to buy Financial Post. Slow down in their Australian assets. Advertising is down on newspapers and television. High risk.

Gordon Higgins, CA, MBA

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DON'T BUY

At this stage it is basically trading like an option on its survivability. Terrible balance sheet with about $4 billion of debt. Management has not been great.

DON'T BUY

He is not active in this sector. This group has not found a bottom yet.

SELL

(Market Call Minute.) There will undoubtedly be a restructuring but shareholders are unlikely to see any benefit.

DON'T BUY

(Market Call Minute.) Dead issue, big time.

PAST TOP PICK

(A Top Pick July 14/08. Down 83.6%.) Sold at $2 putting him down at 11.1%.

SELL

Media space is a very tough one right now. Newspapers are suffering from declining advertising lines and readership. In the TV space a pay-TV provider went out of business today and local stations are closing down. High debt. Sell as a tax loss.

COMMENT

Fairfax Financial (FFH-T) holds 20% of this company. Not sure that they could have any influence on keeping this company out of bankruptcy.

WATCH

Massive spike on volume recently. Don't act on just a couple of days of action; you want a few days. If it continues to rise that would indicate momentum is starting to move in its favour. RSI index spiked into overbought territory. Would like to see a few more days of action.

DON'T BUY

(Market Call Minute) It’s bankrupt.

DON'T BUY

(Market Call Minute.) Have got to be pretty much worthless.

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Gordon Higgins, CA, MBA CanWest Global Comm. CGS-X DON'T BUY Dec 22, 2008

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