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PAST TOP PICK

(A Top Pick July 18/17 Up 19%). This is a leader in the home building space. He would still be a buyer here. There is a shortage of lots to build on and getting permit approvals. There are tons of buyers, just not enough properties to meet the demand.

contractors
PAST TOP PICK

(A Top Pick July 18/17 Down 15%). They covered their position in June. He likes the semi-conductor group, but the stock gapped down and they sold out.

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COMMENT

The worry for the market is that it will get Trumped. There's been so much talk, but the market absorbs the news about him and keeps coming back. If this earnings season goes well, we will have higher markets. Congress has allowed Trump to take control of trade and tariffs, but he'd be surprised if there isn't sympathy for Canada in places like Ohio because of our existing trading relationships. He hopes Trump is all bluster and is using all these threats to bargain, then eventually backs off. Saner heads will prevail, he hopes. Abroad, China has had an economic miracle over the past few decades and growth has far outpaced that of the U.S. and India (which has been growing rapidly in the past five years). Maybe Americans feels it's now or never to balance trade between them and China. Meanwhile, India recently has been outpacing China.

Unknown
STRONG BUY

Excellent. Buy it on a pullback whether as a first position or adding to your shares. August tends to get sloppy in the markets. TD's U.S. presence is important. In fact, they're probably bigger in the States than here. There's lots of room to expand down there. He hasn't sold his shares at all. 3.5% dividend.

banks
BUY on WEAKNESS

With Airbus, BBD now has credibility and clout. The C series has enhanced their stature. That said, he wouldn't be aggressive in buying this, given valuation. Buy on weakness.

transportation equip & components
BUY

Will Ottawa fulfill promises of infrastructure spending? These stocks should be traded (not held). Remember these stocks are international, with building activities outside Canada. This sector will go, along with a lift in the market that he predicts.

contractors
COMMENT

It has the largest mortgage portfolio in Canada, and 20% of Canadians are stressed about their mortgages. This probably is pressuring this stock, but he sees nothing wrong with CIBC. When the market rises, so will the banks.

banks