This isn't the end of the sell-off (despite markets plunging 10% today). We're in a perfect storm with the Saudis hitting us with the oil shock. Where's the bottom? On July 26, 2002, the S&P bottomed at twice book, 2175 points. That is just 200 points from today's close--and that amounts to one day's trading! You can trade markets now, but where's the bottom? All kinds of people are suffering. Also, this is the first social media bear market.

Buy lifecos or banks? This sell-off has been peculiar, because the most-damaged are value stocks including financials in Canada and the U.S. Massacred. MFC is close to a low. It has huge upside potential based on its earnings. But they're in medical insurance. He suspects these stocks are getting close to attractive prices.

His downside target is $238, which is pretty close to today's close of $242. The FANGs have held up relatively well compared to the financials. At $238, take a trade. It's not the dead bottom, though (that was in 2009). In 2002, it bottomed at twice book. We're not at the bottom yet; when do people return to work. If the S&P doesn't hold at 2,175 on the downside (his projection), then he doesn't want to think about it.

He likes its fundamentals. When gold companies report their earnings, those earnings will really come through. Gold has been a victim of selling, but the gold outlook hasn't changed. Governments are still struggling, and now carry even more debt. We're at a dangerous tipping point of the solvency of the U.S., Europe and Japan..

He expects this to fall to $52. Some Canadian bank stocks are moving up or down 20% in a day, which he hasn't seen since 2009. It's panic. An extreme low for TD is $44. Once the downward pressure is off, these bank stocks will rebound nicely and rapidly. He worries less about banks than tech stocks.

He doesn't know if gold has bottomed, but the underlying fundamentals are superb. He would tiptoe into this space in the coming months.

(A Top Pick Feb 11/19, Down 26%) This can still fall further, though it has a lot. Now, it's very cheap and pays a fine yield. It's fairly safe to buy it. The banks are close to the bottom.

(A Top Pick Feb 11/19, Down 46%) The problem in calling a bottom in oil is what's going to happen to oil's earnings. See what happens in the market for a while, before deciding what to do with this.

(A Top Pick Feb 11/19, Down 16%) This also carries silver to give you a nice spread. Carries a nice portfolio of all the gold juniors. You don't need to buy more juniors if you buy this. Gold, though, has been slaughtered like all else. Silver has the potential to make a big move. You can build a position from here.

What is the intrinsic value of the S&P now? How fast will the economy--and earnings--bounce back? There'll be a lot of damaged consumer sentiment, making consumers cautious.

It's held up very well in this sell-off. It could see a nice rebound. His target is $64.50 and buy there. But it it fails there, then $53 is the next support. Its FMV is $74.68, actually, so the stock isn't cheap at current levels. Also, it pays only a 1.5% dividend.

It rose to 10x book value, held for a while, and eventually broke out in 2019 to enjoy a very nice run. During this setback, it's returned below 10x book. The stock is in no man's land. $156 is key resistance. $122 is another. At the current $135, it's in no man's land.

Management blew the Max 737 fiasco, putting together a flying coffin. Earnings have collapsed. The stock is down a lot, but the FMV is still 42% lower than today's price. The balance sheet is weak. Still a long way to go to bottom.

He had a short-term sell around $110-112. At $80, he'd buy it for a trade. It's now between his buy and sell point.

Loves AQN and clean energy. ESG is gathering momentum. In this bear market, these stocks are getting hammered--and are a buying opportunity. Buy at $13.50, his downside target.