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Today, David Cockfield commented about whether ZLU-T, ZLB-T, TD-T, ARX-T, IPL-T, XSH-T, ZWB-T, GIB.A-T, VET-T, V-N, OSB-T, TD-T, XIC-T, ZWU-T, BAM.A-T, PPL-T, CLS-T, T-T, BCE-T, RY-T, MCD-N, WEF-T are stocks to buy or sell.

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BUY

There's no reason why this sold off, but all stocks sell in a correction. This is a consumer stock, and US consumers with many jobs and rising incomes are in a strong space. MCD will do well. Wage inflation hasn't hit yet, either.

BUY

Canadian banks got beaten up--purely psychological and not based on data. This is not a bad time to buy these banks. RY is waking up a little later, getting more aggressive in its strategies.

COMMENT

BCE vs. Telus BCE's growth potential is a little limited vs. Telus. Telus' dividend is okay, but a little lower than BCE's. BCE was one of the few stocks rising when the rest of the market fell. Not a bad idea to also buy Telus. Both are good for cash flow through their dividends. That's why he bought BCE. Telus has a little more growth.

COMMENT

BCE vs Telus BCE's growth potential is a little limited vs. Telus. Telus' dividend is okay, but a little lower than BCE's. BCE was one of the few stocks rising when the rest of the market fell. Not a bad idea to also buy Telus. Both are good for cash flow through their dividends. That's why he bought BCE. Telus has a little more growth.

PARTIAL BUY

Sold off a lot for no real reason. It's a growth stock that doesn't pay much of a dividend. So in a correction these stocks go down and are volatile. Its prospects are good with a reasonable multiple. Hold or even add to your position.

BUY

A smaller pipeline without cross-provincial problems. It's strictly Alberta, so relatively unharmed by politics. Well-run and has held up very well in this correction. A good stock with a growing dividend. No problems.

BUY

What will happen to this in a recession? The Brookfield group are outstanding. In a recession, these guys won't do as well as they are in. That said, he doesn't see a recession coming. Low-risk, good operators. They haven't made a major mistake over the last few years. Savvy.

COMMENT

Utilities include telephones, pipelines and power. He owns this for clients who want the dividend, not long-term performance. If interest rates rise, this will likely fall. But he foresees minimal increases coming (2 from the U.S. this year, he thinks), so ZWU will perform flatly.

PAST TOP PICK

(A Top Pick Dec 14/17, Down 4%) A good way to play the TSX, but this is down because of bad timing; the TSX was down in 2018.

PAST TOP PICK

(A Top Pick Dec 14/17, Up 0.4%) His favourite Canadian bank because of its huge investment in the States, which disappointed for a while but has recently picked up.

PAST TOP PICK

(A Top Pick Dec 14/17, Up 4%) They paid a special $4 dividend in the past year, but took a major hit right after. Also, US housing eased back; recently housing has come back. He's moderately bullish on U.S. housing. Demand is there, but finding land to build on and to build houses is challenging.

STRONG BUY

A winner. A safe investment. Card companies do well when consumers are and now in the U.S. consumers are really using their cards now. It has sold off, but Visa will come back. It's a good business to be in.

HOLD

Mostly oil and mostly in Europe. It's held up well in this oil sell-off, though it got hit recently with the drop in international oil prices. Pays a fine dividend. Certainly hold onto this, but he's cautious about oil prices until they rise into the $60s. Prices are in contango now. A lot depends on Saudi Arabia; they cut back production, oil will leap into the $70s.

COMMENT

Worried about the market and U.S. politics. There's some progress in China-US trade and both sides need a resolution. But don't over-emphasize the politics like the U.S. Government shutdown; the economy will still march ahead as recent strong unemployment numbers demonstrate. The wall and shutdown are noise. Be more positive on the market, and corrections happen all the time.

BUY ON WEAKNESS

He's bullish the Canadian banks, which hold on during the correction until the tail end when they caught in the overall sell-off. The problem with the covered-call is they underperform the banks themselves. He hasn't bought this and recommends the straight bank ETF, which has outperformed ZWB. But if you think the banks will fall or go sideways, then buy ZWB.

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