PAST TOP PICK
(A Top Pick May 10/23, Up 13%)

Chart is up and to the right. Company's on track, adding value for shareholders. He likes it, plus it's right in with the favourable financial theme.

PAST TOP PICK
(A Top Pick May 10/23, Up 4%)

Had a really big breakout from multi-year base. This is typically really positive, as it's telling us that something is changing for the positive. Still likes it. Really positive chart.

PAST TOP PICK
(A Top Pick May 10/23, Up 14%)

Chart shows a positive, ascending triangle pattern. A series of higher highs and higher lows. When you get a breakout to the upside, that's very positive. In fact, it's one of the most positive patterns in tech analysis. Positive tailwinds in the space will be tailwinds for the stock.

TOP PICK

Fantastic chart, ready to break out to new all-time highs. Part of his thesis this year of recommending copper stocks. Likes the setup till end of the year. Very bullish. No dividend.

(Analysts’ price target is $15.99)
TOP PICK

Fits the financial theme until the end of the year. Broke out to new highs, now testing the upper end of the range. The leader of the big 6 banks. Fantastic chart. Yield is 4.06%.

(Analysts’ price target is $105.15)
TOP PICK

Likes base metals more because of where we are in the cycle, but gold and gold stocks are sending signs that they want to break out. Testing the upper range. Gold stocks look to be putting in a multi-month low and set to run. FNV looks set to test $200, breaking above highs of 2020 would be really positive. Gold is one of his best ideas. Yield is 0.93%.

(Analysts’ price target is $221.62)
SELL

He's cautious on Chinese stocks in general, underperforming. Structural issues over there. Bit of a bounce, in line with the shift to risk-on. Take profits. At risk. Chart doesn't look great, potential for retracement.

WAIT

In the next month or two, there's going to be some correction or consolidation. Reward/risk level here is not great. Put stops on 20-30% of your position. Once we hit the corrective phase, perhaps September-October, look to re-enter. Has legs toward the $27 level around the end of 2025. Part of the AI wave.

BUY ON WEAKNESS

Likes insurance names broadly in the higher rate cycle. Likes this one. Likes financials to the end of this year. Wait for a breakout, or add during the upcoming correction in the next month or two. Poised to participate in the new 4-year cycle.

WATCH

Meandering. He'd be more constructive if it took out the highs of 2021, as that would indicate a change for the positive. It's been making a series of lower highs and lower lows, making him cautious. 

PARTIAL BUY

Telcos have been hammered globally mainly due to Verizon and AT&T and potential lawsuit on lead. If those two names can hold in, then he doesn't mind nibbling at these levels. Limit risk at the lows we recently saw. Rotation this year away from defense.

BUY

The recession for copper ended back in October 2022. If we can take out just above $4, that would confirm the series of higher highs and lows, which is the definition of an uptrend. That's what we should expect to see if we're actually starting a new 3-5 year bull market.

He'd be looking to add. When equities lead the commodities higher, that's really bullish. If it takes out its level from the start of the year, that would be very positive, telling us it's going to test highs from 2022.

He really likes the copper space. See his Top Picks.

HOLD
Hold or take profits?

Stock looks great, and wanting to take out the highs of 2021. Bottomed before the market did last October, which is really positive. Higher highs, higher lows. Let the stock run. If it can take out $80, the next level is $100. Hold, even though the toughest thing to do is nothing.

WAIT

Energy is a late-cycle play, with crude locked in a trading range of $60-85 until late 2024 or early 2025. You could buy and collect your dividend, but energy stocks will be relative under-performers for the next 1.5-2 years. Yield is 2.5%.

COMMENT
Energy stocks.

For commodity stocks, you always want to look at the underlying commodity, as that will be a big driver. Energy is a late-cycle play and will be in the penalty box, similar to 2019-20. Crude will be locked in a trading range of $60-85 until late 2024 or early 2025.

Energy stocks will be relative under-performers for the next 1.5-2 years. So if the TSX is up 10%, energy stocks might be up 8%. You really want to be long energy when the cycle is long in the tooth and everything is running on all cylinders.