Stock Opinions by Keith Richards - Stockchase Experts
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Keith Richards @

On Stockchase since : May 2009

Portfolio Manager at ValueTrend Wealth Management

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Stock Opinions by Keith Richards - Stockchase Experts

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COMMENT
General Market Comment 

December 21, 2018

Technical analysis on equity markets. You can follow his blog at valuetrend.ca. 2540 on the S&P 500 was a reasonably significant support level. Don't want to see it broken because it represents the lows of the year. It broke yesterday, and fell more today. So we've broken significant support. He uses the rule of 3 -- he doesn't make a move until 3 days, which has prevented him from buying back in. If Monday is down, after that if we don't start basing, then the market's in trouble. If it doesn't stop falling later next week, he's going to have to start selling out. We are oversold, and we could get a rebound to the old support level. But if we don't crack above 2540, we could be in a new bear market. The 200-day moving average broke some time ago, and we're getting lower lows. He has about 13% cash now, and will start raising more in the next few weeks.
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Technical analysis on equity markets. You can follow his blog at valuetrend.ca. 2540 on the S&P 500 was a reasonably significant support level. Don't want to see it broken because it represents the lows of the year. It broke yesterday, and fell more today. So we've broken significant support. He uses the rule of 3 -- he doesn't make a move until 3 days, which has prevented him from buying back in. If Monday is down, after that if we don't start basing, then the market's in trouble. If it doesn't stop falling later next week, he's going to have to start selling out. We are oversold, and we could get a rebound to the old support level. But if we don't crack above 2540, we could be in a new bear market. The 200-day moving average broke some time ago, and we're getting lower lows. He has about 13% cash now, and will start raising more in the next few weeks.
Unknown
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$0.000
Owned Owned
Unknown

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DON'T BUY
Altagas Ltd(ALA-T) 

December 21, 2018

Time to buy? You can't find a good chart these days. But the longer term trend was bearish to begin with, and now with the recent waterfall, it's gone down. Market's oversold, and you could get a bounce, but that's all he'd look for. He starts with technicals, so he wouldn't even be looking at this stock.
oil/gas
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Time to buy? You can't find a good chart these days. But the longer term trend was bearish to begin with, and now with the recent waterfall, it's gone down. Market's oversold, and you could get a bounce, but that's all he'd look for. He starts with technicals, so he wouldn't even be looking at this stock.
oil/gas
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$12.750
Owned Owned
Unknown

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COMMENT
General Market Comment 

December 21, 2018

How do you decide whether to keep holding a stock? You can trade in this environment. You have to switch gears. Let's assume it's a bear market, you have to look at ways to peel the stocks you're less long-term bullish on, and you can trade the swings. Or you grin and bear it and hold out. You can use momentum indicators to spot overbought and oversold opportunities.
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How do you decide whether to keep holding a stock? You can trade in this environment. You have to switch gears. Let's assume it's a bear market, you have to look at ways to peel the stocks you're less long-term bullish on, and you can trade the swings. Or you grin and bear it and hold out. You can use momentum indicators to spot overbought and oversold opportunities.
Unknown
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$0.000
Owned Owned
Unknown

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SELL ON STRENGTH
Was in an uptrend, he forgave the pullback. A lot of stocks have broken, not unique to CIBC. Switch directions, look for the old support level, and look to get out. He's going to get out on a bit of a rebound.
banks
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Was in an uptrend, he forgave the pullback. A lot of stocks have broken, not unique to CIBC. Switch directions, look for the old support level, and look to get out. He's going to get out on a bit of a rebound.
banks
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$101.310
Owned Owned
Yes

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COMMENT
Suncor Energy Inc(SU-T) 

December 21, 2018

A fundamental fund manager would want to get back in if it's earning money, and the PE will be higher in 5 years. They wouldn't worry about the 200-day moving average, which he does.
integrated oils
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A fundamental fund manager would want to get back in if it's earning money, and the PE will be higher in 5 years. They wouldn't worry about the 200-day moving average, which he does.
integrated oils
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$36.330
Owned Owned
Unknown

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WATCH
Bank of Nova Scotia(BNS-T) 

December 21, 2018

Bought as part of a trading pattern, but it's broken support. So you wait for a rally back up to support, and then you decide if it can break through or you have to sell it. If it looks as though everything is going down, you look for opportunities to sell.
banks
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Bought as part of a trading pattern, but it's broken support. So you wait for a rally back up to support, and then you decide if it can break through or you have to sell it. If it looks as though everything is going down, you look for opportunities to sell.
banks
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$67.090
Owned Owned
Yes

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WEAK BUY
TFI International Inc(TFII-T) 

December 21, 2018

On the verge of breaking, but for a long-term investor, it has plenty of volatility. A toppy looking chart, but on a big long-term trend line. As long as it doesn't keep breaking down, it looks OK. (Analysts’ price target is $52.50)
Transportation
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On the verge of breaking, but for a long-term investor, it has plenty of volatility. A toppy looking chart, but on a big long-term trend line. As long as it doesn't keep breaking down, it looks OK. (Analysts’ price target is $52.50)
Transportation
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$34.300
Owned Owned
Unknown

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DON'T BUY
Facebook(FB-Q) 

December 21, 2018

Not a new breakdown. Has been breaking for the better part of the last half of the year. There will be multiple support levels it will pause at. If you own it, he doesn't know if he'd continue to hold it. If you're a new buyer, he definitely would not buy it yet.
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Not a new breakdown. Has been breaking for the better part of the last half of the year. There will be multiple support levels it will pause at. If you own it, he doesn't know if he'd continue to hold it. If you're a new buyer, he definitely would not buy it yet.
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$124.950
Owned Owned
Unknown

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DON'T BUY
Bombardier Inc (B)(BBD.B-T) 

December 21, 2018

Was following an uptrend, went parabolic, and then fell right out of bed and has continued its waterfall decline. It's like a lot of other stocks, but more of an aggressive breakdown. To him, he has less confidence in an immediate turnaround. He'd like to see a base and for it to go sideways for a while. He's not interested now.
transportation equip & components
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Was following an uptrend, went parabolic, and then fell right out of bed and has continued its waterfall decline. It's like a lot of other stocks, but more of an aggressive breakdown. To him, he has less confidence in an immediate turnaround. He'd like to see a base and for it to go sideways for a while. He's not interested now.
transportation equip & components
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$1.910
Owned Owned
Unknown

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HOLD
Cisco(CSCO-Q) 

December 21, 2018

It's OK, as it hasn't had a giant breakdown. Closer-term support levels are holding. So far, so good. It's acting better than the market.
electrical/electronic
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It's OK, as it hasn't had a giant breakdown. Closer-term support levels are holding. So far, so good. It's acting better than the market.
electrical/electronic
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$41.850
Owned Owned
Yes

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PAST TOP PICK
SNC-Lavalin Group Inc.(SNC-T) 

December 21, 2018

(A Top Pick Sep 26/18, Down 16%) This is his third shot at this trade. There was a pretty sweet trading range. But now it's broken down. He's looking for an oversold bounce, and then they'll decide if it can break back above or if they need to ditch it. New investors may want to wait.
contractors
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(A Top Pick Sep 26/18, Down 16%) This is his third shot at this trade. There was a pretty sweet trading range. But now it's broken down. He's looking for an oversold bounce, and then they'll decide if it can break back above or if they need to ditch it. New investors may want to wait.
contractors
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$44.510
Owned Owned
Yes

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PAST TOP PICK
BCE Inc.(BCE-T) 

December 21, 2018

(A Top Pick Sep 26/18, Up 4%) A defensive trade. Hasn't been bad, pulled back in past week. Stock has a decent chance of getting back. He's OK to hold this, it has a yield, reasonably sideways pattern, not a ton of downside from here.
telephone utilities
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(A Top Pick Sep 26/18, Up 4%) A defensive trade. Hasn't been bad, pulled back in past week. Stock has a decent chance of getting back. He's OK to hold this, it has a yield, reasonably sideways pattern, not a ton of downside from here.
telephone utilities
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$54.300
Owned Owned
Yes

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PAST TOP PICK
Manulife Financial(MFC-T) 

December 21, 2018

(A Top Pick Sep 26/18, Down 20%) Bought it as an oversold candidate. It's broken down like other stocks. "Old support becomes new resistance," so when stock returns, people start selling.
insurance
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(A Top Pick Sep 26/18, Down 20%) Bought it as an oversold candidate. It's broken down like other stocks. "Old support becomes new resistance," so when stock returns, people start selling.
insurance
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$18.620
Owned Owned
Yes

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WAIT
Goldman Sachs(GS-N) 

December 21, 2018

Loves range-bound stocks, because they're so easy to trade. He was going to buy this, but didn't because it broke down early. Fundamentally, he likes it. $160-130 would be a target for the downside, and could bounce off that. If you already own, you're already 3/4 of the way through the damage.
investment companies/funds
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Loves range-bound stocks, because they're so easy to trade. He was going to buy this, but didn't because it broke down early. Fundamentally, he likes it. $160-130 would be a target for the downside, and could bounce off that. If you already own, you're already 3/4 of the way through the damage.
investment companies/funds
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$160.050
Owned Owned
No

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WATCH
JP Morgan Chase & Co(JPM-N) 

December 21, 2018

All the US major banks look the same. Chart is better than Goldman Sachs. It's broken, but is it flat-out broken? It's not been annihilated. In short-term, it will probably bounce up, but if we're in a bear market, it will go down with everything else. If there's a bounce, the banks will be the leaders. The next week will be key.
Financial Services
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All the US major banks look the same. Chart is better than Goldman Sachs. It's broken, but is it flat-out broken? It's not been annihilated. In short-term, it will probably bounce up, but if we're in a bear market, it will go down with everything else. If there's a bounce, the banks will be the leaders. The next week will be key.
Financial Services
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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$94.170
Owned Owned
Unknown

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