Opinions by Bill Carrigan | StockChase
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Bill Carrigan

Technical Analyst

ON STOCKCHASE SINCE Jul 2003

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Opinions by Bill Carrigan


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2016-06-10

N/A
A Comment -- General Comments From an Expert 

Markets. The TSX has had a big run, which was powered by the 3 big ones, financial, energy and materials. We have just had a correction and he wouldn’t worry about it. It is a normal, healthy correction. The long-term chart showed a low in 2008/2009, a low in 2012 and another one this year. Each low is higher, and now it is trying to break out. A peak occurred in 2008 and a double one occurred in 2015, which are called bull traps. He is sure the low of 11,500 will not be violated.

Bill Carrigan

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2016-06-10

COMMENT
A Comment -- General Comments From an Expert 

As a short-term+ intraday trader of stocks below $1, which 3 or more indicators and setups are best for taking decisions? A lot of day traders turned to long-term investors because they got the trade wrong. He would not trade anything under $1 unless there is big volume. If it is trading less than 100,000 shares a day, he wouldn’t touch it.

Bill Carrigan

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2016-06-10

HOLD
Pure Industrial Real Estatetrust Trust (AAR.UN-T)

This had a secondary offering last week and it was well taken. This should digest the move that it has had, and then break into new highs.

property mngmnt/investment
Bill Carrigan

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Price: $5.060
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2016-06-10

PAST TOP PICK
CAE Inc (CAE-T)

(A Top Pick March 24/16. Up 9.97%.) This has been a frustrating stock technically, because it has a long series of lower highs. He now thinks it is above that. He is also bullish on the aerospace sector.

transportation equip & components
Bill Carrigan

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Price: $16.440
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2016-06-10

TOP PICK
CAE Inc (CAE-T)

Fundamentally, this is in the industrial space as well as in the aerospace space. The aerospace peers are doing well. As long as he can remember, the US has been at war with somebody. Technically, this has a long series of tops of around $15.50, and it has finally broken out. With this break out, he thinks this works higher. Once you start breaking out of all-time highs, there is no cap.

transportation equip & components
Bill Carrigan

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Price: $16.440
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2016-06-10

COMMENT
Canadian Apartment Properties (CAR.UN-T)

REITs in general have been a really hot group. Low interest rates help the REITs. Also, they are signalling that the economy is probably not going to be too bad. Chart shows that this one is trending higher. Dividend yield of 4%.

investment companies/funds
Bill Carrigan

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Price: $31.230
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2016-06-10

COMMENT
Cameco Corporation (CCO-T)

Chart shows the financial crisis peak was in 2007 followed by a rally in 2011, which was well below the peak. When that happens, you know that the stock is not going to go anywhere for a long time, which has happened in this case. Unless the price of uranium can get above $40 a pound, it is going to be dead money for a while. Thinks the downside is limited, but also the upside is limited. This is a trade that will do no harm.

integrated mines
Bill Carrigan

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Price: $14.930
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2016-06-10

HOLD
Chartwell Seniors Housing (CSH.UN-T)

Chart shows a very strong upward trend since 2009. It recently hit a new 52 week high. This is in a good sector and it has growth.

property mngmnt/investment
Bill Carrigan

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Price: $15.460
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2016-06-10

COMMENT
First Majestic Silver (FR-T)

Chart shows a long downtrend and you want to watch for a break away gap, which he thinks it has had. The exhaustion gap occurs at the end of the move with big volume, opening higher followed by a huge volume and then closes unchanged or lower. He would prefer to see this on a weekly basis rather than the daily one.

precious metals
Bill Carrigan

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Price: $15.900
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2016-06-10

WATCH
Finning Int (FTT-T)

This is in the industrials, a sector that he likes. The peak was reached in 2007, and then it failed to make a new high in 2011, which put a cap on the stock for a while. It has now digested that move. Now has a well-defined Low at the beginning of this year and thinks it is now going to correct. As the corrective period goes on, the volume increases, and as it moves higher, the volume spikes up again. Watch the volume.

wholesale distributors
Bill Carrigan

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Price: $21.560
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2016-06-10

HOLD
High Liner Foods (HLF-T)

Had a long upward move from 2011 until it reached the peak at the beginning of 2015. It then broke down, and it is now trying to form some kind of a base. It broke above its pivot point and he thinks it will come down to test and then continue upwards.

Consumer Products
Bill Carrigan

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Price: $18.460
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2016-06-10

BUY on WEAKNESS
High Arctic Energy Services Inc (HWO-T)

The sector has had quite a rebound, and he thinks it is like the canary in the mineshaft. It led on the way down and is now trying to catch up. He would Buy this, but would wait for a bit of a pullback to $3.89.

oil/gas
Bill Carrigan

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Price: $3.990
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2016-06-10

HOLD
Interfor Corp (IFP-T)

This has fallen below the 50 day moving average as well as the 200 day. It has had 2 corrective periods. Thinks that is pretty well done and it is trying to build some kind of a base. If you give it a bit more time, he thinks it will run up and test the peak at around $20.

west coast forestry
Bill Carrigan

Technical Analyst, Getting Technical Info Service

Price: $11.860
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2016-06-10

TOP PICK
Major Drilling Group International Inc (MDI-T)

This is basically the canary in the mineshaft for the mining space. The miners have done really well, so this is the major way to play the recovery and resurgence of interest in the mining sector.

mining services
Bill Carrigan

Technical Analyst, Getting Technical Info Service

Price: $7.010
Owned: No

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2016-06-10

PARTIAL BUY
Potash Corp of Saskatchewan (POT-T)

This had a spike top in 2008 followed by the financial crisis. That was followed by a rally, but it didn’t make a new high. That was the kiss of death for this. It was followed by a long bear. We are starting to get some volume here, so you are probably okay and you could pick away at this.

integrated mines
Bill Carrigan

Technical Analyst, Getting Technical Info Service

Price: $21.690
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