(A Top Pick Jan 16/08. Down 48.1% but up 30.3% if you sold in May as he suggested.) Key thing with oil sands stocks is to look at what is happening with the price of crude. This is actually bottoming and when it gets above $50 technicals will be achieved. Horrible 4Q earnings are coming, so wait until they are finished.
Canadian energy sector has done very well from the end of January to the end of May. Has worked in 9 of the last 10 periods. Technically has formed a nice base and is starting to show some possible income. Momentum indicators have just started turning up in the last couple of days.
The period of seasonal strength is from the middle of February right through until the middle of June. Chart shows a nice basic pattern with a breakout and looks like it is in gear to move significantly higher.
(A Top Pick March 2/12. Down 15.42%.) (Note: His Picks are never on a 52-week basis but on a short-term seasonal basis. However all 3 of his picks failed as seasonal trades. He liquidated all 3 around the beginning of April when the technicals started to turn negative.
Like BMO’s ZEO-T and iUnits’ XEG-T, these are good assets that have been beaten up and he sees no reason why not to pick some up here, if your profile is fairly aggressive.
Your Watchlist
Add stocks to watchlist to monitor them daily and get important alerts.
(A Top Pick March 2/12. Down 17.79%.) Did not work. Units started moving lower and broke below their 20 day moving average.