Today, Javed Mirza and Stockchase Insights commented about whether BB.TO, HRB, SJ.TO, ATZ.TO, CCO.TO, X.TO, IAG.TO, TSU.TO, BTE.TO, ATD.TO, CSH.UN.TO, NWH.UN.TO, AMZN, NVDA, QCOM, STN.TO, WFG.TO, NA.TO, SHOP.TO, EXPE, AC.TO, TMO, T.TO, FM.TO are stocks to buy or sell.
Investors do the exact opposite of what they're supposed to do. You're supposed to sell your losers and let your winners run. Human psychology makes us repeat the same mistakes. They get the adrenaline rush of cashing in on a gain. Then they hope and pray that a 10% loss becomes a 0% loss. Every 90% loss starts off as a 10% loss.
The biggest enemy for every investor is themselves.
Warning: viewers out West may not like this opinion. Energy is a late-cycle play. When the economy is running on all cylinders, that's when energy starts to run hot. Pandemic was a black swan event that forced a spike in the chart.
His view is that oil will be in a choppy, sideways trading range between $60-85 over the next 2 years until 2025-late 2026. Energy probably won't have negative performance, but it could be challenged in terms of performance relative to the TSX. Right now, we're 7 months into the cycle.
Really likes insurance names. Financials have been under pressure, especially in the US. But US insurance names are doing really well. It's turning up, improving. Higher for longer should be a tailwind. Important support level around $30, so limit risk to recent lows. $36 and $42 are next major resistance levels.
Chart shows a very powerful pattern in technical analysis. Bumped up against resistance 3 times. Lows are going higher, which means that investors have been buying more aggressively each time. The leader, pushing higher. Fundamental reasons for that push. No dividend.
(Analysts’ price target is $48.10)SJ reported revenues of $710 mln and EPS of $1.03. This beat estimates of $706.7 mln and $0.78 respectively. The company is expecting utility poles to grow by 20% annually into 2024. Utility pole revenue was up 29% this year quarter largely driven by pricing. Overall this looks like a solid quarter at first glance.
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Heading lower since 2022 and continuing to slip. Not a healthy chart. Remains weak here. Doesn't like that it took out the January 2023 low. If it closes below the November 2022 low, definitely take the position off.