He can't guess what the US Fed will do, but he feels we're still in a rate-rising environment and now we're in a hiccup. Today's U.S. jobs number
makes it hard for the Fed to bow to the market. Always remember that liquidity remains the mother's milk of the market--it is key. Bonds are a bellweather for the wider market and we saw a big move today in the 10-year. Given all this, he expects the Fed will hold the rate and will muddle through. Later, the 10-year will rise, then the Fed will follow suit. Since 2016, the S&P has been trending up. It will likely rise into the fall until rates become restrictive. Finally, will Kawhi Leonard re-sign with the Raptors?
What is yourfav tech ind The 200-day moving average is vital, because it tells you whether there's a trend during events such as the start of a 10% correction.
It's in the right space, consumer staples. It's moved from $9 to $7, a big move. Earlier this year, it broke its long downtrend that began in 2016. The worst is over. This may bounce around a bit now. Overall, it looks good. $13 is resistance.
Buy on current weakness? Had lows in January and April. We want the current level to hold (also low around $36-37). Or else, it will fall back to $30 like it did in January 2017.
If you bought this at the start of the year, then take some profits. It's been up this year. However, it's had a double-top (late-2017) and so could fall back to $170. This is volatile. Sell half and hold the rest long-term. Also, if it breaks below $170, it could fall to $130, based on the 200-day moving average.
Doesn't know this well. It had a big jump in late-February and has been rising since. This will be insensitive to interest rate moves. It's had a wild
wild since 2016. Pays a dividend over 5%, but be careful buying a stock only for a dividend, because the stock price can be volatile.
He likes it. He wants it to break $94, and the trend on the chart since January has been pretty good. There's been some volatility since then. Also, it's been rangebound in the last few years, but the chart has been generally up since 2016. Be patient. This is basing, and he would step in.
It's shot up from $24 to $48 in the last 5 weeks, but be cautious when a stock moves parabolically. Pehaps take some money off the table. This
might return to $36-38. Then again, it can keep running up.
(A Top Pick Jan 10/19, Down 0.5%) Still likes it. It's cyclical and a heartbreaking stock with so many politics involved. Given volatility he will take some profits sooner than later. Long-term could be challenging. Today, it's good based on risk/reward. At least worth looking at. If it breaks below $2, there's 10% downside vs. 100% upside.
(A Top Pick Jan 10/19, Down 5%) Volatile. Big move down from mid-April to end-May due to trade issues and the U.S. dollar. It's been choppy and rangebound since 2016, but it could breakout to $45. You are paid to wait.
(A Top Pick Jan 10/19, Up 17%) Has been on a nice uptrend since the year started with little volatility, and since mid-2017 has enjoyed a longer uptrend. Still a core position for him.
It just made a higher low since end-May. Fertilizer seasonality is coming up. Put this on your radar for a trade or long term. Seasonally, it declines
in the first part of a year, then bounces back in the summer into fall.
Don't get scared of parabolic moves. The chart looks very good. It has shot up in the last 6 weeks. Its next move could be just under $6 pretty quickly. Relative strength vs. the S&P looks very good. However, expect volatility. Own a small holding.
Has exceeded its 50-day average. Good for an RRSP? Short-term it just had a breakout to $8 and it wants to go higher to $9.75 as its next resistance. It's had a reverse head-and-shoulders since early-2018. If it hits $10, it could chug higher. Good support at $8.