Today, David Burrows commented about whether BA-N, JPM-N, HES-N, BAC-N, FTV-N, RIO-N, KIE-N, SLF-T, META-Q, FDX-N, CCL.B-T, HACK-N, BA-N, CVS-N, TD-T, BABA-N, BCE-T, ETFC-Q, MU-Q, SQ-N, V-N, ENB-T, ENF-T, AMZN-Q, INTC-Q, CNQ-T are stocks to buy or sell.
All the way through this bull market, people have been nervous. Bull markets die of excess, but that we have been in a cautious expansion. We are in the early stages of a reflation in the economy. There are no signs of recession on the horizon. The market is healthy. Tilray took off today: that's investing, not speculating. He'd be concerned about buying cannabis stocks, but if you have the stomach for it, all the power to you. He doesn't have the stomach for it. Some cannabis companies will do well and others will be wreckage.
Energy producers have been weak this summer, but strengthening in the last few weeks. He looks for companies that thrive through too patches. CNQ is better than the group. The sector is catching a bid; the cyclicals will do better in this next part of the cycle. They will generate a lot of cash and improve their multiples. CNQ will do well.
An important Chinese company. Only 16% of Chinese stocks have an upward bias now. He closely watches Chinese stocks. Alibaba has held on longer than most in China, but it eventually broke support at $170. He needs the Chinese market and Alibaba to recover (to $170) before he steps back in. We're in a time when he'd favour US stocks over Chinese given trade tensions.
Aerospace and defence have long contracts, so that's attractive. Also, you don't pay for the future as you do with pharma, because these companies keep their projects in development in secret; then they just unveil them. He likes Boeing for its civil aviation and defence sides. He prefers this over Lockheed.