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Stock Opinions by Javed Mirza

COMMENT
Market rally is short-term?

Yes. We're seeing price momentum continue to trend higher. Last time he was on, he was of the view that a rally would take us into late June or early July. He thinks the short-term rally phase is getting long in the tooth. Three different sentiment indicators are suggesting that there's likely to be a 1-2 month, potentially longer, corrective phase. 

His longer-term work says that we started a new 4-year economic cycle (or 3-5 year cyclical bull market) back in October 2022. That's still his view. He'll be using the correction over the next month or two to add exposure.

Unknown
COMMENT
Feels like 2021, with tech trading at massive multiples?

He'd agree that in the next 1.5-2 months, we're going to see a pretty decent correction of 3-7%. But his longer view remains that this is a new cyclical bull market, within the context of a secular bull market that's been in place since 2011, and which has upside out to 2030. 

Unknown
COMMENT
Defensive sectors.

If we are starting a new 4-year cycle, portfolio managers will rotate out of the defensive sectors, and this will be the trend for the next 3 years. This includes consumer staples, utilities, and telecoms (especially in Canada). These sectors are most at risk for being a source of funds.

Over the next couple of weeks, they're primed for at least a short-term bounce. We're going to see a rotation to defense over the next month or two.

Unknown
BUY

October 2022 was a 4-year cycle low. If correct, more cyclical areas like semiconductors will rally. Pandemic was a black swan event, not changing his analysis. Trend is very positive. Over the next 2 years, should take out the $160 target.

electrical / electronic
BUY
IGM Financial Inc.

Really likes financials for the second half of the year. From July-September, returns are anemic compared to the market. But at the end of the year, financials have good outperformance. Looks fantastic, strong dividend. Likely to take out highs of 2021 over the course of this cycle. Upside until late 2025 or early 2026. 

investment companies / funds
BUY

Leader in Canadian infotech. Next expansion phase is underway, confirmed by its breaking out to new all-time highs. Fantastic chart, great name.

computer software / processing
BUY
Air Canada

Revenge travel. Higher highs and higher lows remain. Fundamentals and technicals align. If it can take out the highs from 2021, which it's in the process of testing, there's upside to the next major resistance level of $40. Potential to double in the next 2 years.

Transportation
BUY
Delta Air Lines Inc

Made a major market low before the market actually bottomed in October 2022. Took out previous resistance from 2022, and poised to test 2021 highs, very positive.

Transportation
BUY

Laggard. Attractive entry point. Silver as a commodity is seeing higher highs and higher lows. Really likes the potential of silver longer term, especially for a Santa Claus rally.

precious metals
BUY
A Comment -- General Comments From an Expert
Silver.

Silver as a commodity is seeing higher highs and higher lows. Silver has more economic applications than gold, and it's responding positively. His work suggests taking out highs of $27, with next upside target around $30. Really likes the potential longer term, especially for a Santa Claus rally.

Unknown
BUY
Nutrien Ltd.

Really likes it here. Quant work is showing attractive value at these levels. Pulled back to some key technical levels. Chart is improving.

agriculture
BUY

Really likes it here. Quant work is showing attractive value at these levels. Pulled back to some key technical levels. Chart is improving.

chemicals
BUY

Beautiful and strong chart, up and to the right. Permanent part of your portfolio. Breakout to new highs targets $75. These are the kinds of charts you want to be looking for as you hunt for names to put in your portfolio.

food stores
COMMENT
Beautiful charts.

Beautiful and strong chart is up and to the right. This type of chart's telling you that the market likes the stock, and the company's doing everything right. These are the kinds of charts you want to be looking for as you hunt for names to put in your portfolio.

Unknown
COMMENT
A Comment -- General Comments From an Expert
The VIX.

The volatility index is telling us right now that the market is definitely not pricing in fear. Spikes highlight previous cycle lows. Pandemic was a black swan event. The last spike was in 2022.

Very positive that the VIX is heading lower. It's telling us that there are fewer surprises on the horizon. Market hates uncertainty. It's in line with his longer-term work. There's upside out into 2025. He expects the VIX to trend lower over the course of next year, which is really positive for equity markets.

Unknown
Showing 1 to 15 of 463 entries