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Stock Opinions by Bill Carrigan

N/A

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.

Unknown
DON'T BUY

If you did a comparison against a broad index, this is weaker than the index. It had a corrective period in 2008 and has taken a long time to get back up. Also, the upward trend line has been violated.

integrated oils
BUY on WEAKNESS

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
HOLD

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
HOLD

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
PARTIAL BUY

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
COMMENT

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
COMMENT

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.

Unknown
PAST TOP PICK

(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
PAST TOP PICK

(A Top Pick March 24/16. Up 20.42%.) This is due for a pullback now, but thinks it will go on for a while. If you are not in this, you might want to wait a week or 2 before committing.

E.T.F.'s
PAST TOP PICK

(A Top Pick March 24/16. Up 10.69%.) He likes the industrials because it is a sort of call on the economy. Thinks this uptrend persists for a while.

E.T.F.'s
WATCH

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
HOLD

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
COMMENT

Chart shows a long upward trend channel and it should work higher. There is no sign this is going to go down. Feels the stock wants to go higher. However, if your portfolio is loaded with consumer sensitive stocks, then you have to lighten up. Consumers type stocks have gone too far and too fast. He would prefer to be underweight consumer stocks, and would lighten up.

other services
COMMENT

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
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