WAIT

Making RSI new lows versus the market. Avoid this whole neighbourhood for a while.

BUY

As good as you'll find in the NA auto sector. Republican platform likes tariffs, and GM would benefit. He owns some RACE, and would like to own TSLA. 

PAST TOP PICK
(A Top Pick Jan 29/24, Up 15%)

(2 for 1 stock split on 11 June 2024) 
Commodity bull markets last a long time once they get going. Pullback gives you an opportunity, he'd buy today. Especially given short life of US shale assets, companies like this should command a premium over the cycle. Plans to own for a long time.

PAST TOP PICK
(A Top Pick Jan 29/24, Up 22%)

QB2 will be a very valuable asset. Always bumps getting a new mine underway, but outlook for copper long term is very positive. Biggest risk to portfolios is that inflation eats your money, so you need to own things that can put up prices tomorrow if inflation goes up today.

PAST TOP PICK
(A Top Pick Jan 29/24, Up 5%)

Currency has been the headwind here. Will do well over the cycle. Buffett's been a big buyer of Japanese equities over the last few years. Very compelling valuations on Japanese industrials and financials.

DON'T BUY

Worries that it has yet to monetize AI effectively. People can create images themselves with less sophisticated tools. Technically weak. The tech sector is not his #1 place to add right now. Look elsewhere.

COMMENT
Tech sector.

Not his #1 place to put new money right now. Recent backup in bond yields poses a risk to the discount rate of companies, so they're less inflation-protected. On the software side, it's cybersecurity that's performing really well.

DON'T BUY

The ZEO ETF recently broke out to new highs. But this one is not a leader among those. He prefers CNQ, IMO or SU.

BUY

The ZEO ETF recently broke out to new highs. In the group, he likes CNQ, IMO and SU.

BUY

The ZEO ETF recently broke out to new highs. In the group, he likes CNQ, IMO and SU.

BUY

XME was among the strongest performers this morning, up almost 7%. Some view that protectionism would be good for the NA steel producer. Cyclical, fits the inflation theme. Hasn't done a lot of work on this one, but technical setup is good.

COMMENT
How will "drill, baby, drill" affect Canadian oil & gas?

Lots of questions on that. Likely to be more willingness to open pipeline capacity to the US. Regulatory environment might be more friendly. Particularly good for long-life assets. Nice pickup in volume as pipeline capacity to US has gotten better. Price differential has been coming down. Weak CAD has also helped these companies, though you have to separate natural gas from oil. 

We'll have to see what policies come forward. He's sticking with the very long-life assets paying great dividends.

BUY

Looks great. Political picture just got a lot better. Talk of building gas-powered plants to fuel data centres. Stock's on a tear. He owns ENB and PPL.

DON'T BUY

Serial disappointment, underperforming the sector. Technically, not the kind of stock he would buy.

HOLD
Reports Nov 20, after the bell.

Got stopped out around $110 in July as the semis rolled over. If he loves a company, and the technical picture gets repaired, he doesn't mind paying a higher price to re-enter. He got back in at $114. Undisputed leader in the sector. Technical setup is pretty good. Earnings are due in 14 days; he's holding till then, and hopes it doesn't disappoint. Seems that demand is exceedingly strong, pricing looks good. Blackwell problems seem to have faded.

Worries a bit about the sector; if you take AVGO and NVDA out, it's been one of the worst-performing sectors since July.