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Markets. US markets near record highs once again. Didn`t think they would announce tapering this month and they did. The market took it well. The market likes clarity. The seasonals are strong in December through mid-January. Thinks it goes to 1850 in the next couple of weeks, at which time he would take some money off the table. In the last two weeks he has heard very little chatter about how good or poor the Christmas season shopping has been. There has been pretty good discounting in stores. Storms in Canada may impact pre-Christmas shopping. Crude oil will trade from mid-$80s to $110 for the next couple of years. Pipelines could make a difference in getting Canadian oil sold at world prices.

Uranium sector overall will be a challenge over the next few years. Nuclear is a solution for the world that we are going to have to adopt and so will do well over the next 10 years. You could buy in the dips but would be surprised if the ranges broke in the next couple of years.

You have to watch around the $400 level. We have seen it hold a few times over the next few months but if it falls below that it will go 10% more.

Interest rate sensitive stocks started to perform poorly when the FED first talked tapering. In 2014 we will see interest rates tick up a little, so this one will be range bound.

It has been a growth story since it went public. There is probably still more to come as they open more stores. It is the kind of stock that will not do so well in a stronger economy. Would find it tough to buy here.

Canadian Banks. If you like the dividend, ZWB-T is a better way to play because of the covered call overlay. Thinks banks will be range bound for the next 6-12 months and are fully valued. But good value in pullbacks.

Mutual fund industry will go through big changes over the next few years. It involves full disclosure over fees. He thinks eventually the two products will be the same size. AGF is a high dividend payer and people like that.

If gold stays low then you will get a lot of shutting in gold so there is probably a floor on the price of gold. He thinks there is an opportunity where the sector is pressed lower due to tax loss selling. He is not bullish, but it is at the bottom of a range so you could nibble.

The whole US stock market, small to large cap. You are not early in the trend and there is some risk. It is a good way to play the markets.

Educational Segment. Market Breadth is Breaking Down. Chart 1 compared the NASDAQ index with the number of NASDAQ stocks making 52 week highs. They are diverging. 52 week highs are going down while market is going up. This often leads to a period of consolidation, 3 so far this year. We are seeing weaker and weaker participation. Chart 2 is percentage of stocks above their own 200 day moving average. Almost all are below that average near the time of major bottoms (>80%). Usually 75-80% are above this point at market highs. The number of stocks above 200 day average is currently declining. Chart 3 is advance/decline line. Showed how in 1998 this number peaked but markets went higher for 18 months with less and less stocks participating.

Markets. It’s been a mixed year. Some emerging markets have been quite flat. Canada has been pretty good and the US side has been spectacular. Up until a year or so ago, money coming from the federal reserve went to emerging markets. That changed a year ago. Looks like money flows are heading towards developed markets. Early tapering will keep helping for the time being. We will get a correction at some point. In a bull market, corrections are quick and not that extensive. Difficult to know when during next year it will come.

It is timely now. He just bought it. Replacing fertilizer is an ongoing thing. They have to put it on every three years. There are a lot of positive developments in Potash. Cartel is put back together. Pricing is going to be better than people think. Hold it and see what the spring brings. AGU is the grocery store for potash, not the same thing. POT is the low cost guy.

Keeps monitoring this one. Doesn’t expect last 5 years growth to be replicated in the next 5. Dividend is safe, though. If fundamentals change and something in the space goes amiss, then ask yourself about this stock, otherwise continue to hold it. 5% yield that increases every year or so.

Is affected by overall trend in auto sales. China’s sales are consistent and higher than the Americans. #2 of the big internationals in China. He picked F-N about a year or so and hung his hat on that one. Thinks you can buy as many as you want in the sector, but he prefers F-N.

New 52 week low. Let it put a bottom in place. Be a bit cautious. Market is telling you there is something a bit wrong. It is a balance sheet question. You need to see it hold the support and rally a little bit.