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Today, The Panic-Proof Portfolio (Stockchase Research) and The Weekly Buzzing Stocks by Billy Kawasaki commented about whether CL-N, SOFI-Q, AR-N, GWO.PR.P-T, CIU.PR.A-T, CCS.PR.C-T are stocks to buy or sell.

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TOP PICK
Stockchase Research Editor: Michael O'Reilly

With the expectation that central banks are no longer increasing interest rates, preferred shares should benefit.  We reiterate CCS.PR.C as a TOP PICK.  CCS has served the Canadian market for 78 years operating as a multi-line insurance cooperative.  We continue to recommend a stop at $17, looking to achieve its par value of $25 -- upside potential over 29%.  Yield 6.5% 

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TOP PICK
Stockchase Research Editor: Michael O'Reilly

With central banks choosing to no longer increase interest rates, preferred shares are good value.  We again reiterate CIU.PR.A as a TOP PICK.  The parent, CU, is a diversified utility provider with a strong balance sheet.  We recommend maintaining the stop at $15, looking to achieve $25 -- upside potential of 40%.  Yield 6.5%

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK
Stockchase Research Editor: Michael O'Reilly

As central banks are choosing to no longer increase interest rates, preferred shares are good value.  We again reiterate this Canadian based preferred share offering by Power Financial.  We continue to recommend trailing a stop at $19.00, looking to achieve $25.00 -- upside potential of 19%.  Yield 6.6% 

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TOP PICK

Antero Resources is an independent exploration and production (e&p) company engaged in the exploitation, development, and acquisition of natural gas, ngls and oil properties located in the appalachia basin. headquartered in denver, colorado, we are focused on creating value through the development of our large portfolio of repeatable, low cost, liquids-rich drilling opportunities in two of the premier north american shale plays. Social media mentions are up 2500% in the past 24h.

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TOP PICK

Sofi is a new kind of finance company. from unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. whether they’re looking to buy a home, pay off their student loans, ascend in their careers, or invest in the future, the sofi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. Social media mentions are up 100% in the past 24h.

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TOP PICK

Every day, millions of consumers around the world trust our products to care for themselves and the ones they love. colgate-palmolive is a global company serving people in over 200 countries and territories with consumer products that make their lives healthier and more enjoyable. colgate manufactures and markets oral care, personal care, home care and pet nutrition products under such internationally recognized brand names as colgate, palmolive, speed stick, lady speed stick, softsoap, irish spring, protex, sorriso, kolynos, elmex, tom’s of maine, sanex, ajax, axion, fabuloso, soupline and suavitel, as well as hill’s science diet, hill’s prescription diet and hill’s ideal balance. Social media mentions are up 267% in the past 24h.

COMMENT
Markets as we start July.

Seasonality matters. In his recent newsletter, he contrasted two reasons why the market might go up, and two reasons why it might go down.

July is OK seasonally, and momentum is still with the market. However, some of the underlying indicators are kind of weak. Like Kevin O'Leary wearing a suit blazer with pyjama bottoms, the market looks good up top, but not so good when you look below the surface.

COMMENT
Canadian market has more positive breadth than US?

He read a statistic that about 3-4% of the S&P 500 is making new highs on the year, versus the percentage of the TSX that's significantly higher. Both have kind of crummy breadth, but especially the S&P 500.

COMMENT
What does the second half of 2024 look like?

There's always a bit of pumping coming into an election, where they promise the world. That can have an effect on the markets. Typically, election years often see positives in the back half of the year.

But he has a problem with market breadth and overbought status (how much above the 200-day MA the S&P is). He likes the indexes that are a little less technology focused.

COMMENT
Portfolio focus.

He likes the indexes that are a little less technology focused, and he's 98% not tech in his equity platform. And yes, he might underperform for a while, and this will continue as long as it's all about MSFT and NVDA. He doesn't like the market from a momentum point of view, it's overbought, but you can't argue with it too much so you have to be invested.

COMMENT
What's going to bring everybody away from tech to the other side of the ship?

He's compared the breadth stats between now and 2000-2001, and the two market participation numbers are at about the same level. The usual suspects were moving up, and nothing else was. We're in the same sort of situation. Everyone knows what happened, it imploded.

He's not saying it will implode tomorrow. But the setup is perfect, it's going to happen, unless things slow down for that handful of leading stocks.

COMMENT
Why do the leaders have to slow down, why can't the rest of the market just catch up, especially since AI is supposed to benefit "everybody"?

It very well could happen. Right now, though, the focus is so much on those stocks. Everybody's aware that they're overbought, yet everyone's still buying them partially because of FOMO. When that changes, the other stocks will catch up, which is why he's in non-tech stocks. The change will happen eventually, so it's safer to be there now, even if he suffers a few months of underperformance.

BUY ON WEAKNESS
For a 3-5 year hold.

In an uptrend, higher highs and higher lows. Ideal time to buy or add is when there's a bit of a pullback and stock hits the trendline. Hard to predict 3-5 years for anything these days, but if the trend is up, stay with it.

COMMENT
Does the "trendline" follow the 200-day or 100-day MA?

No. Draw it so that it touches the troughs. It's sort of a median line. If the stock hits that, it's probably a buying opportunity.

BUY ON WEAKNESS

Oils have been trading sideways. Stock's close to midway between one of its trading ranges. Stuck in limbo for next few months. Not great during summer seasonality. OK on dips, but don't expect much for a few months.

See his (really good;) blog on oils, being published tomorrow.