This just had a Buy signal, because it broke out of one of his structural levels. His model price is $68, 190% of yesterday’s close. Earnings estimates are $4.17 this year and goes down to $3 next year. He has had Sell signals all along, and this is the 1st Buy signal he has had. If you are a trader, he would be Long the stock.
He is not in gold. This stock has deliberately been going down since February. The next support is at $14.67, and it just closed at $16.41. He is not a big fan until he sees a positive transit and puts any money into it. His model price is $21.34, 30% higher than where it was. You are buying this cheap, and you are willing to buy it cheaper as the price goes down. He likes that strategy.
Market. Believes equities have ignored interest rates going below something like 2.75%. If equities actually priced in interest rates where they are now, they’d be a lot higher than what they are today. The equity world is disconnected from the bond world. Interest rates moving up is actually a bullish thing. There are a lot of dynamic things happening in the US and that is where the opportunity is. Stocks are actually getting a lot cheaper in the US than they are in Canada, especially when you look at retail, consumer discretionary and financials.