Some of the auto companies are starting to break out and do better. He thinks this one will pull back in and follow the sector.

Packaging stocks would normally do well in this economy. There have been so few opportunities in Canada with the commodities the way they are, and so money moved to the non-resource areas. It will turn down when the market turns down.

It is facing some headwinds. Get some cash from it and reallocate it. There will be headwinds in this sector because of crop successes recently. The farmers need the cash in their pockets to invest heavily in fertilizer.

Last year Europe was not too hot and China was undergoing its metamorphosis. China has now caught up and money is flowing into this. It is situated in a growth area of the world. Spinning out the UK retail franchise and moving head office could be catalysts.

ADRs. They are US dollar denominated. You either have a currency tailwind or headwind. Last year it was a tailwind. It also harms earnings. If the earnings are off shore and US dollar is strong, exports are hampered. It was an off quarter for Honda. Toyota has done a better job in the last year at getting things sold. He prefers the ones they own – F-N and TTM-N.

They are a really well run group. If they raise money they have a good idea of what they are going to do with the money. It has been consistently good so stay in it.

Totally dependent on the gold price. We are seeing some of the leading stocks breaking out of base formations, so this is a good sign. In the last week or so we are seeing this. He has G-T and SLW-T