Stock Opinions by David Burrows - Stockchase Experts
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David Burrows

On Stockchase since : Jun 2001

President & Chief Investment Strategist at Barometer Capital Management

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Stock Opinions by David Burrows - Stockchase Experts

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General Market Comment 

February 7, 2019

Market. Multi asset funds have struggled over the last while. Last year was a whip saw year where we were up and down dramatically. He focuses on structural long term themes. In 1994 he learned not to get too aggressive on the sell side because the recovery comes so quickly. This is playing out again. He made a call to stay with his positions into year end and then they rallied back. Last December's exit from the markets dwarfed the worst 4 week period in 2008.
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Market. Multi asset funds have struggled over the last while. Last year was a whip saw year where we were up and down dramatically. He focuses on structural long term themes. In 1994 he learned not to get too aggressive on the sell side because the recovery comes so quickly. This is playing out again. He made a call to stay with his positions into year end and then they rallied back. Last December's exit from the markets dwarfed the worst 4 week period in 2008.
Unknown
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David Burrows

President , Barometer Capital Ma...

Price Price
$0.000
Owned Owned
_N/A

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HOLD
Hess Corp.(HES-N) 

February 7, 2019

It is interesting because they have some very large finds. One is about as large an oil find as there has been in the last 20 years. It has rallied off the lows and has come back quite nicely although not rallying as well as others in the group. It is not one of the leadership groups.
integrated oils
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It is interesting because they have some very large finds. One is about as large an oil find as there has been in the last 20 years. It has rallied off the lows and has come back quite nicely although not rallying as well as others in the group. It is not one of the leadership groups.
integrated oils
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David Burrows

President , Barometer Capital Ma...

Price Price
$53.250
Owned Owned
Unknown

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BUY
CGI Group (A)(GIB.A-T) 

February 7, 2019

There is a secular theme where companies will continue to spend on IT development. The industry is growing between 5 and 6%, roughly twice the growth rate of the economy. They can now make another acquisition and he is watching for potential catalysts.
consulting
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There is a secular theme where companies will continue to spend on IT development. The industry is growing between 5 and 6%, roughly twice the growth rate of the economy. They can now make another acquisition and he is watching for potential catalysts.
consulting
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David Burrows

President , Barometer Capital Ma...

Price Price
$88.610
Owned Owned
Unknown

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BUY
On a 12 months basis it is better than 85% of the companies in the NYSE. Healthcare has come back quite nicely. This is trading well above a rising 150 day average. This is a theme you can depend on. Managed Healthcare. Continue to hold it.
medical services
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On a 12 months basis it is better than 85% of the companies in the NYSE. Healthcare has come back quite nicely. This is trading well above a rising 150 day average. This is a theme you can depend on. Managed Healthcare. Continue to hold it.
medical services
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David Burrows

President , Barometer Capital Ma...

Price Price
$268.160
Owned Owned
Unknown

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BUY
Waste Connections(WCN-T) 

February 7, 2019

This selloff in the fall was a correction and not a transition. The US economy is in good shape. This one is in a good industry. It is trading at a new relative high. If you believe we have a soft landing this year, you want to own things focused on the US domestic economy.
Transportation & Environmental Services
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This selloff in the fall was a correction and not a transition. The US economy is in good shape. This one is in a good industry. It is trading at a new relative high. If you believe we have a soft landing this year, you want to own things focused on the US domestic economy.
Transportation & Environmental Services
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David Burrows

President , Barometer Capital Ma...

Price Price
$111.340
Owned Owned
Unknown

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BUY
Enbridge(ENB-T) 

February 7, 2019

It has been really good at executing within their industry. They have strong metrics that they judge their operations against. They have grown their dividend over time. We are seeing a reflation in the economy and we need a rising stream of dividends going forward, which this has.
oil/gas pipelines
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It has been really good at executing within their industry. They have strong metrics that they judge their operations against. They have grown their dividend over time. We are seeing a reflation in the economy and we need a rising stream of dividends going forward, which this has.
oil/gas pipelines
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David Burrows

President , Barometer Capital Ma...

Price Price
$49.310
Owned Owned
Unknown

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BUY
XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$24.990
Owned Owned
Unknown

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BUY
SPDR S&P 500 ETF(SPY-N) 

February 7, 2019

XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$270.170
Owned Owned
Unknown

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BUY
XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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0 comments
XIC-T vs. SPY-N vs. VT-N. After a sharp decline after a rally you are likely to retest lows. The thrust off the bottom was so significant. 10 of the last 12 corrections never went back to retest the lows. Positioning is so defensive that people are not likely to get the retesting of the lows they are waiting for. The commodity complex could see strength. All three should do well.
E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$70.570
Owned Owned
Unknown

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SELL
Inter Pipeline(IPL-T) 

February 7, 2019

It is a bit of a poor cousin to ENB-T. Despite the fact that defensives sectors did well through the fall, it is still at a 52 week low relative to the market so its been signifncantly under performing. He would stay in ENB-T, but look even more for dividend growth. He suggests looking more to dividend growth like financials vs the big pipes.

oil pipelines
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It is a bit of a poor cousin to ENB-T. Despite the fact that defensives sectors did well through the fall, it is still at a 52 week low relative to the market so its been signifncantly under performing. He would stay in ENB-T, but look even more for dividend growth. He suggests looking more to dividend growth like financials vs the big pipes.

oil pipelines
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David Burrows

President , Barometer Capital Ma...

Price Price
$20.680
Owned Owned
Unknown

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COMMENT
What comes screaming back is the previous leaders. There is persistence. Internet retail is the first one to break down and the first one to reverse. Basic materials are the area starting to make a turn. It would be complimentary to add some Canada.
E.T.F.'s
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What comes screaming back is the previous leaders. There is persistence. Internet retail is the first one to break down and the first one to reverse. Basic materials are the area starting to make a turn. It would be complimentary to add some Canada.
E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$215.120
Owned Owned
Unknown

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WAIT
Manulife Financial(MFC-T) 

February 7, 2019

The problem is that life insurance companies are having a tough time. You are dealing with a tough sector back drop.
insurance
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The problem is that life insurance companies are having a tough time. You are dealing with a tough sector back drop.
insurance
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David Burrows

President , Barometer Capital Ma...

Price Price
$21.090
Owned Owned
Unknown

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BUY on WEAKNESS
Magna Int'l. (A)(MG-T) 

February 7, 2019

The auto and auto sector rolled over early last year with a mid-cycle slow down. This sector is relatively outperforming now. He thinks we have seen a turn. We need a pull back. Then they will perform well over the next year.
Automotive
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The auto and auto sector rolled over early last year with a mid-cycle slow down. This sector is relatively outperforming now. He thinks we have seen a turn. We need a pull back. Then they will perform well over the next year.
Automotive
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David Burrows

President , Barometer Capital Ma...

Price Price
$67.480
Owned Owned
Unknown

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PAST TOP PICK
Microsoft(MSFT-Q) 

February 7, 2019

(A Top Pick Jan 31/18, Up 13%) There is a secular theme in software as a service, as well as the cloud and this one is right in the middle of this. They are the absolute leader in their space. It pulled off its highs, but as one of the last stocks to sell off, it is a company you can buy here and hold it for 2 to 3 years.
computer software/processing
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(A Top Pick Jan 31/18, Up 13%) There is a secular theme in software as a service, as well as the cloud and this one is right in the middle of this. They are the absolute leader in their space. It pulled off its highs, but as one of the last stocks to sell off, it is a company you can buy here and hold it for 2 to 3 years.
computer software/processing
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David Burrows

President , Barometer Capital Ma...

Price Price
$105.210
Owned Owned
Yes

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PAST TOP PICK
Charles Schwab Corp(SCHW-N) 

February 7, 2019

(A Top Pick Jan 31/18, Down 14%) Even if you look at a turn in rates, themes have an interruption. This one was 2-4 months long. We had that last fall. He would buy it here, or IAI-N. It is a great entry point.
investment companies/funds
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(A Top Pick Jan 31/18, Down 14%) Even if you look at a turn in rates, themes have an interruption. This one was 2-4 months long. We had that last fall. He would buy it here, or IAI-N. It is a great entry point.
investment companies/funds
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David Burrows

President , Barometer Capital Ma...

Price Price
$45.180
Owned Owned
No

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PAST TOP PICK
United Rentals(URI-N) 

February 7, 2019

(A Top Pick Jan 31/18, Down 29%) It is a proxy for the broad US economy and also for the cycle itself. We will have to see if the numbers re-accelerate.
Financial Services
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(A Top Pick Jan 31/18, Down 29%) It is a proxy for the broad US economy and also for the cycle itself. We will have to see if the numbers re-accelerate.
Financial Services
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David Burrows

President , Barometer Capital Ma...

Price Price
$127.960
Owned Owned
Unknown

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DON'T BUY
Parkland Fuel Corp(PKI-T) 

February 7, 2019

They have done a good job of operating the business over time. Dividend growth has been slow. He prefers ATD.B-T.
merchandising/lodging
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They have done a good job of operating the business over time. Dividend growth has been slow. He prefers ATD.B-T.
merchandising/lodging
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David Burrows

President , Barometer Capital Ma...

Price Price
$37.040
Owned Owned
No

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WEAK BUY
TransCanada Corp(TRP-T) 

February 7, 2019

The energy space was tough last year. This has been rising since September, relative to the energy space. It has performed well through the recovery. Nice dividend, growing at about 6% annually. If you took at three year period in the market it will under-perform but be more stable.
oil/gas pipelines
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The energy space was tough last year. This has been rising since September, relative to the energy space. It has performed well through the recovery. Nice dividend, growing at about 6% annually. If you took at three year period in the market it will under-perform but be more stable.
oil/gas pipelines
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David Burrows

President , Barometer Capital Ma...

Price Price
$55.730
Owned Owned
Unknown

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DON'T BUY
Imperial Oil(IMO-T) 

February 7, 2019

He would be looking for a turn relative to its group and relative to the market and neither of those two are happening. It has been having a difficult time generating a total return over the years. There are better places.
integrated oils
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He would be looking for a turn relative to its group and relative to the market and neither of those two are happening. It has been having a difficult time generating a total return over the years. There are better places.
integrated oils
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David Burrows

President , Barometer Capital Ma...

Price Price
$35.980
Owned Owned
Unknown

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DON'T BUY
XPO Logistics, Inc(XPO-N) 

February 7, 2019

In the last little while it has had a tough go. It has beaten only 6% of stocks on the S&P over the last year. He likes the transports but the rails more. You could buy IYT-N and that would be a better bet.
Transportation
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In the last little while it has had a tough go. It has beaten only 6% of stocks on the S&P over the last year. He likes the transports but the rails more. You could buy IYT-N and that would be a better bet.
Transportation
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David Burrows

President , Barometer Capital Ma...

Price Price
$59.660
Owned Owned
Unknown

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DON'T BUY
Keyera Corp(KEY-T) 

February 7, 2019

Energy infrastructure has bounced off the lows but is still an under-performer. They grew their dividend over 10% which is attractive but he would prefer to go more for market strength. Look at financials or apartment REITs. ENB-T would be better also.
oil/gas
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Energy infrastructure has bounced off the lows but is still an under-performer. They grew their dividend over 10% which is attractive but he would prefer to go more for market strength. Look at financials or apartment REITs. ENB-T would be better also.
oil/gas
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David Burrows

President , Barometer Capital Ma...

Price Price
$28.280
Owned Owned
Unknown

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BUY
It is a great company and has been well managed over time. They grew about 12% on the dividend over time. He prefers a higher dividend vs. a higher growth of the dividend. CNR-T has had great pricing power over time. This one has a really defendable position.
Transportation
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It is a great company and has been well managed over time. They grew about 12% on the dividend over time. He prefers a higher dividend vs. a higher growth of the dividend. CNR-T has had great pricing power over time. This one has a really defendable position.
Transportation
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David Burrows

President , Barometer Capital Ma...

Price Price
$109.970
Owned Owned
Unknown

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BUY
Organic LED devices for consumer electronics. He likes the tech group. These guys are a leading in their space. It held in much better since September, relative to their group. This one looks timely.
electrical/electronic
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Organic LED devices for consumer electronics. He likes the tech group. These guys are a leading in their space. It held in much better since September, relative to their group. This one looks timely.
electrical/electronic
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David Burrows

President , Barometer Capital Ma...

Price Price
$110.050
Owned Owned
Unknown

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BUY
Semi-conductors had a really hard fourth quarter. Skyworks provided a number that was weak and the stock took off, telling you that the market is looking beyond the current slowdown. It is a great way to play the components companies.
electrical/electronic
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Semi-conductors had a really hard fourth quarter. Skyworks provided a number that was weak and the stock took off, telling you that the market is looking beyond the current slowdown. It is a great way to play the components companies.
electrical/electronic
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David Burrows

President , Barometer Capital Ma...

Price Price
$81.560
Owned Owned
Unknown

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HOLD
Cameco Corporation(CCO-T) 

February 7, 2019

There is secular growth and they are cyclical. We are starting to make a turn. We are seeing good risk/reward in this area. He would be buying it here. He bought an EFT in the area just this week.
integrated mines
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There is secular growth and they are cyclical. We are starting to make a turn. We are seeing good risk/reward in this area. He would be buying it here. He bought an EFT in the area just this week.
integrated mines
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David Burrows

President , Barometer Capital Ma...

Price Price
$16.890
Owned Owned
Unknown

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TOP PICK
Within the REIT sector, apartments are interesting because there is a real lack of rental space. Rental rates are really accelerating at just under 12%. They are growing cash to be distributed at about 8%. They have a 2.8% dividend that is growing faster than other apartment REITs. They have a strong balance sheet. They can get into more projects. They will add apartments in Toronto and Vancouver. It is one of his largest positions as a firm. (Analysts’ price target is $50.56)
investment companies/funds
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Within the REIT sector, apartments are interesting because there is a real lack of rental space. Rental rates are really accelerating at just under 12%. They are growing cash to be distributed at about 8%. They have a 2.8% dividend that is growing faster than other apartment REITs. They have a strong balance sheet. They can get into more projects. They will add apartments in Toronto and Vancouver. It is one of his largest positions as a firm. (Analysts’ price target is $50.56)
investment companies/funds
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David Burrows

President , Barometer Capital Ma...

Price Price
$48.750
Owned Owned
Yes

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TOP PICK
Mastercard Inc.(MA-N) 

February 7, 2019

It is a secular theme that goes beyond the business cycle. They are more focused on emerging markets, where the industry is growing faster than domestically. It does not matter if the business cycle slows down or not. (Analysts’ price target is $235.70)
other services
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It is a secular theme that goes beyond the business cycle. They are more focused on emerging markets, where the industry is growing faster than domestically. It does not matter if the business cycle slows down or not. (Analysts’ price target is $235.70)
other services
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David Burrows

President , Barometer Capital Ma...

Price Price
$213.970
Owned Owned
Yes

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TOP PICK
Servicenow(NOW-N) 

February 7, 2019

Software as a service. It is the strongest sector, period – in the last two years. It makes software that is used to manage workflow such as for companies that provide IT servicing. It is growing rapidly. 35% year over year. They have running room in front of them. (Analysts’ price target is $233.32)
Technology
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Software as a service. It is the strongest sector, period – in the last two years. It makes software that is used to manage workflow such as for companies that provide IT servicing. It is growing rapidly. 35% year over year. They have running room in front of them. (Analysts’ price target is $233.32)
Technology
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David Burrows

President , Barometer Capital Ma...

Price Price
$226.960
Owned Owned
Yes

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COMMENT
General Market Comment 

September 19, 2018

All the way through this bull market, people have been nervous. Bull markets die of excess, but that we have been in a cautious expansion. We are in the early stages of a reflation in the economy. There are no signs of recession on the horizon. The market is healthy. Tilray took off today: that's investing, not speculating. He'd be concerned about buying cannabis stocks, but if you have the stomach for it, all the power to you. He doesn't have the stomach for it. Some cannabis companies will do well and others will be wreckage.

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All the way through this bull market, people have been nervous. Bull markets die of excess, but that we have been in a cautious expansion. We are in the early stages of a reflation in the economy. There are no signs of recession on the horizon. The market is healthy. Tilray took off today: that's investing, not speculating. He'd be concerned about buying cannabis stocks, but if you have the stomach for it, all the power to you. He doesn't have the stomach for it. Some cannabis companies will do well and others will be wreckage.

Unknown
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0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$0.020
Owned Owned
Unknown

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BUY
Canadian Natural Rsrcs(CNQ-T) 

September 19, 2018

Energy producers have been weak this summer, but strengthening in the last few weeks. He looks for companies that thrive through too patches. CNQ is better than the group. The sector is catching a bid; the cyclicals will do better in this next part of the cycle. They will generate a lot of cash and improve their multiples. CNQ will do well.

oil/gas
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Energy producers have been weak this summer, but strengthening in the last few weeks. He looks for companies that thrive through too patches. CNQ is better than the group. The sector is catching a bid; the cyclicals will do better in this next part of the cycle. They will generate a lot of cash and improve their multiples. CNQ will do well.

oil/gas
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0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$42.470
Owned Owned
Unknown

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BUY
Intel(INTC-Q) 

September 19, 2018

There's been profit-taking in tech in the past 4 weeks when those stock peaked; semis were especially sold off. Intel pays a 2.6% dividend yield, offers good share buybacks and is a leader in the space.

electrical/electronic
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There's been profit-taking in tech in the past 4 weeks when those stock peaked; semis were especially sold off. Intel pays a 2.6% dividend yield, offers good share buybacks and is a leader in the space.

electrical/electronic
0 0 0 0 0
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David Burrows

President , Barometer Capital Ma...

Price Price
$46.150
Owned Owned
Unknown

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BUY
Amazon.com(AMZN-Q) 

September 19, 2018

All tech HAS pulled back in the past two weeks. It's a secular leader in a secular theme. Give it the benefit of the doubt. Amazon is nowhere close to stopping its momentum.

specialty stores
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All tech HAS pulled back in the past two weeks. It's a secular leader in a secular theme. Give it the benefit of the doubt. Amazon is nowhere close to stopping its momentum.

specialty stores
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David Burrows

President , Barometer Capital Ma...

Price Price
$1926.420
Owned Owned
Yes

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COMMENT

ENB taking over ENF: Sell one, buy one or both buy? The reflationary sectors will do well in the next leg of this cycle, but the pipelines will not. Instead look at U.S. financials. Hold onto ENB, maybe make a move on the fund, ENF. Buy stocks/sectors that will benefit from rising rates.

oil/gas
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0 comments

ENB taking over ENF: Sell one, buy one or both buy? The reflationary sectors will do well in the next leg of this cycle, but the pipelines will not. Instead look at U.S. financials. Hold onto ENB, maybe make a move on the fund, ENF. Buy stocks/sectors that will benefit from rising rates.

oil/gas
0 0 0 0 0
0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$33.520
Owned Owned
Unknown

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COMMENT
Enbridge(ENB-T) 

September 19, 2018

ENB taking over ENF: Sell one, buy one or both buy? The reflationary sectors will do well in the next leg of this cycle, but the pipelines will not. Instead look at U.S. financials. Hold onto ENB, maybe make a move on the fund, ENF. Buy stocks/sectors that will benefit from rising rates.

oil/gas pipelines
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0 comments

ENB taking over ENF: Sell one, buy one or both buy? The reflationary sectors will do well in the next leg of this cycle, but the pipelines will not. Instead look at U.S. financials. Hold onto ENB, maybe make a move on the fund, ENF. Buy stocks/sectors that will benefit from rising rates.

oil/gas pipelines
0 0 0 0 0
0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$44.740
Owned Owned
Unknown

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BUY
Visa Inc.(V-N) 

September 19, 2018

Visa vs. Square He really likes the fintechs, including these. He owns both. They've had a wonderful run. Short-term,
we may see a brief rotation into the banks. But the fintechs are here to stay. They have years to rally.

other services
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Visa vs. Square He really likes the fintechs, including these. He owns both. They've had a wonderful run. Short-term,
we may see a brief rotation into the banks. But the fintechs are here to stay. They have years to rally.

other services
0 0 0 0 0
0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$147.420
Owned Owned
Yes

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BUY
Square Inc(SQ-N) 

September 19, 2018

Visa vs. Square He really likes the fintechs, including these. He owns both. They've had a wonderful run. Short-term,
we may see a brief rotation into the banks. But the fintechs are here to stay. They have years to rally.

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Visa vs. Square He really likes the fintechs, including these. He owns both. They've had a wonderful run. Short-term,
we may see a brief rotation into the banks. But the fintechs are here to stay. They have years to rally.

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David Burrows

President , Barometer Capital Ma...

Price Price
$84.800
Owned Owned
Yes

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COMMENT
Micron Technology(MU-Q) 

September 19, 2018

It's very cyclical. It has consolidated the space as leader, so there's less competition now. This cycle is not over, but it's trading below its 50-day moving average. If you're a value investor, you could buy it now, but the technicals don't impress him.

computer software/processing
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It's very cyclical. It has consolidated the space as leader, so there's less competition now. This cycle is not over, but it's trading below its 50-day moving average. If you're a value investor, you could buy it now, but the technicals don't impress him.

computer software/processing
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David Burrows

President , Barometer Capital Ma...

Price Price
$45.060
Owned Owned
Unknown

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PAST TOP PICK
ETrade Financial Corp.(ETFC-Q) 

September 19, 2018

(Past Top Pick, August 16, 2017, Up 38%) Sold at a good profit. It's well-run. He likes this space, online trading. Expects trading volumes online to increase. This space has consolidated in the past few months. It could be taken out by someone like a Schwab.

investment companies/funds
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(Past Top Pick, August 16, 2017, Up 38%) Sold at a good profit. It's well-run. He likes this space, online trading. Expects trading volumes online to increase. This space has consolidated in the past few months. It could be taken out by someone like a Schwab.

investment companies/funds
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David Burrows

President , Barometer Capital Ma...

Price Price
$55.780
Owned Owned
No

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DON'T BUY
BCE Inc.(BCE-T) 

September 19, 2018

Even with the telcos bouncing up in the summer, BCE did not. Little growth here. People buy this for the dividend. He wouldn't buy any telco now, and BCE is among the weaker ones.

telephone utilities
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Even with the telcos bouncing up in the summer, BCE did not. Little growth here. People buy this for the dividend. He wouldn't buy any telco now, and BCE is among the weaker ones.

telephone utilities
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David Burrows

President , Barometer Capital Ma...

Price Price
$51.910
Owned Owned
No

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DON'T BUY
Alibaba Group Holding(BABA-N) 

September 19, 2018

An important Chinese company. Only 16% of Chinese stocks have an upward bias now. He closely watches Chinese stocks. Alibaba has held on longer than most in China, but it eventually broke support at $170. He needs the Chinese market and Alibaba to recover (to $170) before he steps back in. We're in a time when he'd favour US stocks over Chinese given trade tensions.

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An important Chinese company. Only 16% of Chinese stocks have an upward bias now. He closely watches Chinese stocks. Alibaba has held on longer than most in China, but it eventually broke support at $170. He needs the Chinese market and Alibaba to recover (to $170) before he steps back in. We're in a time when he'd favour US stocks over Chinese given trade tensions.

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David Burrows

President , Barometer Capital Ma...

Price Price
$162.630
Owned Owned
Unknown

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BUY
Toronto Dominion(TD-T) 

September 19, 2018

Do you see TD hitting $87 in Q4? He'd rather buy a US bank or at least a Canadian one with US exposure--TD and BMO. Both have excellent loan growth in the U.S. You're paid a good yield by TD and it's trading better than most of the S&P 500.

banks
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Do you see TD hitting $87 in Q4? He'd rather buy a US bank or at least a Canadian one with US exposure--TD and BMO. Both have excellent loan growth in the U.S. You're paid a good yield by TD and it's trading better than most of the S&P 500.

banks
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David Burrows

President , Barometer Capital Ma...

Price Price
$79.310
Owned Owned
Yes

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DON'T BUY
CVS Health Corp(CVS-N) 

September 19, 2018

The drug stocks are defensive. Consumer discretionary has been doing well. CVS had 19% earnings growth, and estimated 4% next year, which is not enough in a bull market to take advantage of economic strength. You could see money rotate away from this sector.

specialty stores
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The drug stocks are defensive. Consumer discretionary has been doing well. CVS had 19% earnings growth, and estimated 4% next year, which is not enough in a bull market to take advantage of economic strength. You could see money rotate away from this sector.

specialty stores
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David Burrows

President , Barometer Capital Ma...

Price Price
$78.960
Owned Owned
Unknown

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BUY
Boeing(BA-N) 

September 19, 2018

Aerospace and defence have long contracts, so that's attractive. Also, you don't pay for the future as you do with pharma, because these companies keep their projects in development in secret; then they just unveil them. He likes Boeing for its civil aviation and defence sides. He prefers this over Lockheed.

Transportation
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Aerospace and defence have long contracts, so that's attractive. Also, you don't pay for the future as you do with pharma, because these companies keep their projects in development in secret; then they just unveil them. He likes Boeing for its civil aviation and defence sides. He prefers this over Lockheed.

Transportation
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David Burrows

President , Barometer Capital Ma...

Price Price
$365.220
Owned Owned
Unknown

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BUY

Internet security are software companies and this group is in favour, because companies need security now. This ETF holds a basket of these companies and this should do well in the coming year. A little money may rotate out of tech into financials, but only briefly, he expects.

E.T.F.'s
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Internet security are software companies and this group is in favour, because companies need security now. This ETF holds a basket of these companies and this should do well in the coming year. A little money may rotate out of tech into financials, but only briefly, he expects.

E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$39.460
Owned Owned
Yes

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DON'T BUY
CCL Industries (B)(CCL.B-T) 

September 19, 2018

Erratic this year, though good over the long run. It used to be illiquid to buy. It's lumped in with consumer staples, though it's really packaging. It's not performing well in this market. Look elsewhere.

packaging/containers
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Erratic this year, though good over the long run. It used to be illiquid to buy. It's lumped in with consumer staples, though it's really packaging. It's not performing well in this market. Look elsewhere.

packaging/containers
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David Burrows

President , Barometer Capital Ma...

Price Price
$60.590
Owned Owned
Unknown

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DON'T BUY
FedEx(FDX-N) 

September 19, 2018

He likes transports, which have recently made new highs. He would prefer a rail stock like CP or CSX or KSU. They benefit from North American strength. Look there instead of FedEx or UPS.

Transportation
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He likes transports, which have recently made new highs. He would prefer a rail stock like CP or CSX or KSU. They benefit from North American strength. Look there instead of FedEx or UPS.

Transportation
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David Burrows

President , Barometer Capital Ma...

Price Price
$242.880
Owned Owned
Unknown

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WAIT
Facebook(FB-Q) 

September 19, 2018

The stock has broken technically. All social media has been pressured. Short-run, there's noise. Until technicals improve, he won't enter this. He'd wait for a better entry point. Remember: a lot of investors who bought when the stock climbed to $220 will sell when FB rises to those levels again. Why wait for that?

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The stock has broken technically. All social media has been pressured. Short-run, there's noise. Until technicals improve, he won't enter this. He'd wait for a better entry point. Remember: a lot of investors who bought when the stock climbed to $220 will sell when FB rises to those levels again. Why wait for that?

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David Burrows

President , Barometer Capital Ma...

Price Price
$163.060
Owned Owned
Unknown

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DON'T BUY
Sun Life Financial Inc(SLF-T) 

September 19, 2018

Today, everything in financials rallied, including the lifecos. Rising rates benefit them. But the US banks look better. Instead, look at the ETF, KIE-N, to give you a basket of insurance companies. Today it broke new highs. SLF isn't the best house in a very good neighbourhood.

insurance
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Today, everything in financials rallied, including the lifecos. Rising rates benefit them. But the US banks look better. Instead, look at the ETF, KIE-N, to give you a basket of insurance companies. Today it broke new highs. SLF isn't the best house in a very good neighbourhood.

insurance
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David Burrows

President , Barometer Capital Ma...

Price Price
$52.320
Owned Owned
Unknown

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BUY
SPDR S&P Insurance ETF(KIE-N) 

September 19, 2018

Today, everything in financials rallied, including the lifecos. Rising rates benefit them. Look at this to give you a basket of insurance companies. Today it broke new highs. 

E.T.F.'s
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Today, everything in financials rallied, including the lifecos. Rising rates benefit them. Look at this to give you a basket of insurance companies. Today it broke new highs. 

E.T.F.'s
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David Burrows

President , Barometer Capital Ma...

Price Price
$32.480
Owned Owned
Yes

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PAST TOP PICK
Rio Tinto(RIO-N) 

September 19, 2018

(Past Top Pick, August 16, 2017, Up 16%) Sold in March around $55. He expects a near-term turn in the basic materials, which have enjoyed good recent weeks. Look at this space now.

other mines
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(Past Top Pick, August 16, 2017, Up 16%) Sold in March around $55. He expects a near-term turn in the basic materials, which have enjoyed good recent weeks. Look at this space now.

other mines
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David Burrows

President , Barometer Capital Ma...

Price Price
$49.280
Owned Owned
No

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PAST TOP PICK
Fortive Corp(FTV-N) 

September 19, 2018

(Past Top Pick, August 16, 2017, Up 31%) He likes the industrials, and companies in secular robotics. Great managers. It's outperforming the sector a lot. There's a chance of a slight pullback. This could lead this space if there's a strong fall.

INDUSTRIAL PRODUCTS
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(Past Top Pick, August 16, 2017, Up 31%) He likes the industrials, and companies in secular robotics. Great managers. It's outperforming the sector a lot. There's a chance of a slight pullback. This could lead this space if there's a strong fall.

INDUSTRIAL PRODUCTS
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David Burrows

President , Barometer Capital Ma...

Price Price
$85.990
Owned Owned
Yes

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BUY
Bank of America(BAC-N) 

September 19, 2018

Trading at 1x book value, and in past bull markets has traded at 3-4x that. Not expensive and he sees a lot of upside in the US market. The US economy is growing and there's a little inflation in the system--tthese are great conditions for BAC. (The US banks underperformed, because they had a great run from Sept. 2017 to Feb. 2018.)

banks
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Trading at 1x book value, and in past bull markets has traded at 3-4x that. Not expensive and he sees a lot of upside in the US market. The US economy is growing and there's a little inflation in the system--tthese are great conditions for BAC. (The US banks underperformed, because they had a great run from Sept. 2017 to Feb. 2018.)

banks
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David Burrows

President , Barometer Capital Ma...

Price Price
$31.000
Owned Owned
Yes

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TOP PICK
Hess Corp.(HES-N) 

September 19, 2018

Energy is bouncing back. Hess has resources in Mexico, North Sea and Africa (Guyana). They used their free cash flow to develop new resources, They found the largest new oil find in the last 20 years. They could produce a million barrels a day in Guyana by 2025. Great cash flow, and they do share buybacks. Great growth ahead. (1.4% dividend, Analysts' price target: $71.95)

integrated oils
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Energy is bouncing back. Hess has resources in Mexico, North Sea and Africa (Guyana). They used their free cash flow to develop new resources, They found the largest new oil find in the last 20 years. They could produce a million barrels a day in Guyana by 2025. Great cash flow, and they do share buybacks. Great growth ahead. (1.4% dividend, Analysts' price target: $71.95)

integrated oils
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David Burrows

President , Barometer Capital Ma...

Price Price
$69.420
Owned Owned
Yes

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TOP PICK
JP Morgan Chase & Co(JPM-N) 

September 19, 2018

They have $1.5 trillion in deposits. They're grown their dividend $12% a year over the last 5 years. Capital position equal to 12%, which is more than they need. Expect more dividend growth. They are the gorilla and will only get bigger. (2.7% dividend, Analysts' price target: $122.36)

Financial Services
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They have $1.5 trillion in deposits. They're grown their dividend $12% a year over the last 5 years. Capital position equal to 12%, which is more than they need. Expect more dividend growth. They are the gorilla and will only get bigger. (2.7% dividend, Analysts' price target: $122.36)

Financial Services
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David Burrows

President , Barometer Capital Ma...

Price Price
$117.620
Owned Owned
Yes

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TOP PICK
Boeing(BA-N) 

September 19, 2018

Two-thirds commercial jets, one-third is defence. They have a giant backlog of planes to deliver. They've grown their dividend 28% a year over the last 5 years. This will beat rising interest rates. Great runway ahead. (1.9% dividend, Analysts' price target: $412.63)

Transportation
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Two-thirds commercial jets, one-third is defence. They have a giant backlog of planes to deliver. They've grown their dividend 28% a year over the last 5 years. This will beat rising interest rates. Great runway ahead. (1.9% dividend, Analysts' price target: $412.63)

Transportation
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David Burrows

President , Barometer Capital Ma...

Price Price
$365.220
Owned Owned
Yes

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COMMENT
General Market Comment 

July 18, 2018

Market. He thinks the market breadth has been slowly expanding since March.  There has been no major correction that has occurred while market breadth was expanding.  The ValueLine 1700 stock index has hit an all-time high, telling you it is not just a handful of tech stocks leading the market higher.  He thinks the market is just starting the next bullish market surge.  There are more people short the S&P500 than in 2015.  Normally, markets reverse when everyone is “hanging out over their skis” – we are not there yet.  He holds 80% of their assets in the US and have been reducing their exposure in Canada due to the current investment horizon.    

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Market. He thinks the market breadth has been slowly expanding since March.  There has been no major correction that has occurred while market breadth was expanding.  The ValueLine 1700 stock index has hit an all-time high, telling you it is not just a handful of tech stocks leading the market higher.  He thinks the market is just starting the next bullish market surge.  There are more people short the S&P500 than in 2015.  Normally, markets reverse when everyone is “hanging out over their skis” – we are not there yet.  He holds 80% of their assets in the US and have been reducing their exposure in Canada due to the current investment horizon.    

Unknown
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David Burrows

President , Barometer Capital Ma...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

July 18, 2018

Technicals and trading. On technical charts he never will make a decision against what the technical chart is saying. He likes to invest in leadership sectors, like inflation based stocks now. He then will look at 150 day moving averages, and would not sell when the price was well below the moving average and he would not buy when the price was well above the average. He likes Point and Figure charts to scan for higher highs and higher lows.

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Technicals and trading. On technical charts he never will make a decision against what the technical chart is saying. He likes to invest in leadership sectors, like inflation based stocks now. He then will look at 150 day moving averages, and would not sell when the price was well below the moving average and he would not buy when the price was well above the average. He likes Point and Figure charts to scan for higher highs and higher lows.

Unknown
0 0 0 0 0
0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

July 18, 2018

Where are oil prices going? He thinks oil prices are near the lower end of the trading range and more likely to go higher.  He would own the best companies in the group as this is a cyclical sector, but not make it a major holding in his portfolio.  

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Where are oil prices going? He thinks oil prices are near the lower end of the trading range and more likely to go higher.  He would own the best companies in the group as this is a cyclical sector, but not make it a major holding in his portfolio.  

Unknown
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0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT
General Market Comment 

July 18, 2018

Should I sell my negative holdings as the market is trading a record highs? This requires the leap that you are moving on to a better place.  Would I be a buyer of these holdings today?  If not, then take at least or half or more off the table and watch how things progress.  If they are not in the sunshine, be careful.  You want to own things participating now.  There are many months of higher stock prices yet to come.  

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Should I sell my negative holdings as the market is trading a record highs? This requires the leap that you are moving on to a better place.  Would I be a buyer of these holdings today?  If not, then take at least or half or more off the table and watch how things progress.  If they are not in the sunshine, be careful.  You want to own things participating now.  There are many months of higher stock prices yet to come.  

Unknown
0 0 0 0 0
0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$0.020
Owned Owned
_N/A

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WATCH

The home building and material sector has gone through a correction over the past few months.  He believes the bull cycle will resume and thinks this could be starting now.  He just doesn’t think this is one of the leaders in the group.  He would like to see a move back above $145 before he would get excited.  He would favour Home Depot instead.  

misc industrial products
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The home building and material sector has gone through a correction over the past few months.  He believes the bull cycle will resume and thinks this could be starting now.  He just doesn’t think this is one of the leaders in the group.  He would like to see a move back above $145 before he would get excited.  He would favour Home Depot instead.  

misc industrial products
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0 comments
David Burrows

President , Barometer Capital Ma...

Price Price
$138.270
Owned Owned
No

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