Today, Keith Richards and Alex Ruus commented about whether ANTM-N, AD-T, MSFT-Q, NWL-N, BBD.B-T, SGY-T, PHM-X, NFI-T, ATD.B-T, BTE-T, JNJ-N, NEPT-T, MG-T, GILD-Q, MX-T, BA-N, TCN-T, AMGN-Q, ECA-T, LVS-N, CASH, XGD-T, FXE-N, TFII-T, WJA-T, AAPL-Q, ENB-T, TD-T, L-T, VET-T, NYX-X, ECA-T, BIP.UN-T, CSX-Q, BA-N, WSP-T, CHE.UN-T, BBT-N, HOU-T, BAC-N, AA-N, BNS-T, CXR-T, AC-T, ARE-T, MNST-Q, KPT-T are stocks to buy or sell.
Owns this in his income portfolio, but not in his growth portfolio. This stock has not broken its long-term trend line. In the near term it probably has some support at around current levels. Feels the dividend is sustainable and is solid. If you are an income, long-term investor, you could probably own this and is probably an OK time to buy it right now. It is probably going to move sideways for the time being.
Chart shows an uptrend since early 2014 that broke a Top late last year. The resistance point in early 2015 was tested in a topping formation, and that became the neckline. We may find support at current levels of around $65. If it manages to hold that $64 area successfully for a little while, it may not be a bad trade. But be aware that if $64 breaks, it could get ugly.
TD Bank (TD-T) and Enbridge (ENB-T) in a TFSA? This is a bet on the Canadian economy. Will the Canadian economy pick up in the next 5 years? Probably. If you have the patience to deal with all the ups and downs, you might be okay. However, over the next 12 months or so, he is not so positive on the banks.
TD Bank (TD-T) and Enbridge (ENB-T) in a TFSA? This has had a definite breakdown. An old support level at around $45 was broken. It is trying to rally back up to that, which is what he would call the neck line level. If it can break that to the upside, it might be positive, that to him it is still just a test. Not sure if he would own this one for the long run.
The longer-term trend line that started in 2013 has been broken. A long-term trend line that has been broken is really significant. Sometimes you get a rally if it breaks out above the trend line again, but at this time this company is underperforming its sector of tech stocks, and is breaking down.
On a chart going back to 2012, there was a pretty nice upward trend line, and that broke down in early 2015, and pretty aggressively. Since then there have been multiple breaks of support. There was a level of support at around $24 that was tested recently, but it broke. At this point it took out another low from the summer. You are possibly going to find a bounce here, but he would want to see it bounce off the $16.50-$17 level and hold before he got involved.
Theoretically lower fuel prices are supposed to help these companies. The chart is showing a breakdown with lower highs and lower lows since early 2015. There is some hope as some of the lows seem to be holding. Pay a lot of attention to the last peak of around $25-$26, which might be a point of target if the market rallies the way he thinks it might over the next 2-3 weeks.
This tracks the euro versus the US$. Technically this is basing. He likes to see stuff that has had a fall and is now starting to form a base. That is usually the beginning of what could be a positive move. There is also a little bit of “fundamental” in this play as well. He has taken a half position to start. If the Fed becomes a little more dovish than they implied in late 2015, the US$ might just pull back a little bit. Meanwhile the euro might be a little bit on an upswing. Thinks the euro is an OK place as a safe haven, at least for the short term if this market continues to act erratically.
Tracks gold stocks on the TSX. The chart shows a little bit of a base that seems to be happening. He is looking for a possible break out. Producers have been lagging the actual commodity, and he is wondering if there might be some catch up. Doesn’t own this yet but is showing what he is interested in buying and will possibly buy in the next week or so.
Markets. This is going to be a choppier year. There is mixed economic news. US growth seems to have slowed a little, and there are some concerns about a recession. Chinese growth has been slower than it has been. It all adds up to another year of very slow growth. The US Fed move in December concerned a lot of people. There might be a little more shakiness in February, but feels we are in a bit of a bottoming process. The US consumer is actually in pretty good shape. They are sitting on cash a little bit more than usual. Eventually, with the money that is coming into their pockets, they will be spending a little more. Expects to see an acceleration in consumer spending towards the end of the year, which will provide more confidence and the market should do better.