COMMENT
The 10-year SP/TSX chart points to new all-time highs. We just started a new 4-year cycle. He targets 3,100 for the S&P and 30,000 on the Dow. Yes, world growth is slowing and expects weak data through June. 2011 and 2016 were the 4-year cycle lows while December 2018 was the last cycle low.
Unknown
BUY
It's been in a long downtrend. Since February though it's been upward. He sees anupside target of $6. If it breaks that, then he targets $10. It looks constructive here with possibly higher highs and higher lows.. Though it's not a sector leader, it looks positive.
oil / gas
BUY
It's had a sideways base since the start of 2019 and is creating a cup and handle pattern. $30 is his target. He likes it here and now and should rise higher.
Business Services
BUY
Alphabet Inc
It bottomed with the market in December and has since seen higher highs and lows. Will test $1,300 and will break out to new all-time highs. A winner.
Technology
BUY
Hudbay Minerals
He recommended this 2 weeks ago to clients. If we start a new 4-year economic cycle, then you want to be long cyclical commodities including this stock. A fantastic chart. $12 target. He sees the current rally going to May/June when you would get cautious and maybe take some profits.
precious metals
BUY
Magna Int'l. (A)
He recommended this in December and likes it here. $75 will be an important resistance test. He likes this chart and the auto space. His target is $77-80 to May/June when you could take some profits.
Automotive
BUY
He likes the chart. Transports reflect a growing economy. CNR has jsut broken previous highs with good volumes. $140 is his target.
Transportation
COMMENT
What technical indicators do you use to determine entry and exit points? Momentum (any indicator will do). Relative strength (is a stock outperforming peers?). Price patterns: 50-day and 200-day moving averages. Volume to support a move higher; ergo, volume when a stock moves down is a concern.
Unknown
HOLD
Micron Technology
Semis reflect the general economy. Last year they peaked out early, but definitely improving since the start of the year. Semis have recently broken to new highs. Hold this, because it will go higher through this new cycle into 2021/2022.
computer software / processing
BUY
TC Energy
It had a long-term downtrend, but has reversed that since the start of the year. Positive. It could break to new highs at $65.
oil / gas pipelines
STRONG BUY
This chart is fantastic. It's broken to new all-time highs already. A winner.
electrical utilities
DON'T BUY
Finning Int
A laggard. He bought it over the winter, pulled back, so he sold it. FTT is trying to find a floor. Compare this to peer, Toromont, which is like day and night. Toromont has broken to new highs.
wholesale distributors
BUY
Shopify Inc.
It has been going up after consolidating in late-2018. Since then, it's broken to new all-time highs. He likes this chart--fantastic. Now, it's consolidating after a rally. From here, it can go either way, but he expects it to break to the upside in May-June.
0
PAST TOP PICK
Lundin Mining Corp.
(A Top Pick Feb 21/19, Down 0.3%) He likes the chart. With the start of this new economic cycle, copper stocks should benefit.
metal mines
PAST TOP PICK
Encana Corp
(A Top Pick Feb 21/19, Up 3%) It's been in an upward trend channel since the year started. Recent big volume is a good sign. The next upside target is $10, then $13-14 is a key point.
oil / gas