Recent Opinions | StockChase

Opinions Table


Signal Opinion Expert
PAST TOP PICK
Xylem Inc.(XYL-N) 

January 9, 2018

(A Top Pick Jan 11/17. Up 43%.) There are not a lot of pure plays in this space. They transport, treat and test water. About 20% of revenues are from emerging markets. Those countries are still building out water infrastructure. In developed markets, water systems are aging and need refurbishment. She wouldn't chase the name at this price, but would wait for a bit of consolidation.

environmental

(A Top Pick Jan 11/17. Up 43%.) There are not a lot of pure plays in this space. They transport, treat and test water. About 20% of revenues are from emerging markets. Those countries are still building out water infrastructure. In developed markets, water systems are aging and need refurbishment. She wouldn't chase the name at this price, but would wait for a bit of consolidation.

environmental
Christine Poole

CEO & Managing Director, GlobeInvest Capital ...

PricePrice
$69.500
Owned Owned
Yes

N/A
General Market Comment 

January 8, 2018

Market.  There might be trouble in the Whitehouse as we learn with the book just released.  It is a 25th amendment type of work, meaning impeachment.  The market could go considerably higher still over the next two years despite geopolitical challenges.  The market will ‘melt up’ in a fear of missing returns.  This is usually the last phase blow off of the market.  It looks like Canada is moving toward raising rates.  He thought they would wait for the outcome of the NAFTA negotiations.  They probably don’t want a stronger Canadian dollar, but it could be the right decision if inflation is picking up.  Oil above $61 could last.  The Canadian energy sector is probably going to lag the US.

Market.  There might be trouble in the Whitehouse as we learn with the book just released.  It is a 25th amendment type of work, meaning impeachment.  The market could go considerably higher still over the next two years despite geopolitical challenges.  The market will ‘melt up’ in a fear of missing returns.  This is usually the last phase blow off of the market.  It looks like Canada is moving toward raising rates.  He thought they would wait for the outcome of the NAFTA negotiations.  They probably don’t want a stronger Canadian dollar, but it could be the right decision if inflation is picking up.  Oil above $61 could last.  The Canadian energy sector is probably going to lag the US.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

DON'T BUY
General Market Comment 

January 8, 2018

Marijuana or Tech ETF Recommendation.  HMMJ-T is the Marijuana ETF but don’t buy it here.  The sector is tremendously overvalued.  You would have to trade it with pretty tight stops.  For Tech, it includes Bitcoin and so on which are very volatile.  This is not the best time to put money to work in Tech.  IYW-N is a way to play the tech sector but look to buy it 10% lower.

Marijuana or Tech ETF Recommendation.  HMMJ-T is the Marijuana ETF but don’t buy it here.  The sector is tremendously overvalued.  You would have to trade it with pretty tight stops.  For Tech, it includes Bitcoin and so on which are very volatile.  This is not the best time to put money to work in Tech.  IYW-N is a way to play the tech sector but look to buy it 10% lower.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
Unknown

WAIT
General Market Comment 

January 8, 2018

India ETF in Toronto.  XID-T and ZID-T are the two was to play it in Canada.  You need to be aware that the XID-T holds the INDA-N ETF and so there could be some double taxation.  He does not own India right now but in the next 6 months we will get a chance to jump into India.

India ETF in Toronto.  XID-T and ZID-T are the two was to play it in Canada.  You need to be aware that the XID-T holds the INDA-N ETF and so there could be some double taxation.  He does not own India right now but in the next 6 months we will get a chance to jump into India.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
No

N/A
General Market Comment 

January 8, 2018

Educational Segment.  The ‘Melt Up’.  We are probably in the past phase of the market cycle and the market will probably ‘melt up’.  The final phase of the acceleration up before a bubble takes 3 to 3.5 years to play out and you get a proportional decline.  The start of this melt up was the election of Trump.  The S&P within 9 months to two years will peak out in 3400 – 3700 range and will end the ‘melt up’.  The change from previous market cycles is the amount of money in ETFs which affects advance decline lines.  He thinks caution prevails rather than chasing the market higher.

Educational Segment.  The ‘Melt Up’.  We are probably in the past phase of the market cycle and the market will probably ‘melt up’.  The final phase of the acceleration up before a bubble takes 3 to 3.5 years to play out and you get a proportional decline.  The start of this melt up was the election of Trump.  The S&P within 9 months to two years will peak out in 3400 – 3700 range and will end the ‘melt up’.  The change from previous market cycles is the amount of money in ETFs which affects advance decline lines.  He thinks caution prevails rather than chasing the market higher.

Unknown
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

January 8, 2018

Market.  Canadian equities will play catch-up on the year.  He thinks there is a catch-up trade this year.  It is actually driven by commodities, which should do well and help make up some of the lost ground.  He is a concentrated fund, holding 20 positions.  Recently he has been cycling into some cyclical plays.  You want some base metals and energy exposure.  You are seeming a lift in the commodities but it has not played through into the equities.  There is an upgrade cycle in the energy space that is due.  Mining stocks are trading at a discount to their US counter parts.  Extraction companies have a compelling risk/reward ratio.  CS-T deserves a premium multiple.  TCW-T is good in the oil space.

Market.  Canadian equities will play catch-up on the year.  He thinks there is a catch-up trade this year.  It is actually driven by commodities, which should do well and help make up some of the lost ground.  He is a concentrated fund, holding 20 positions.  Recently he has been cycling into some cyclical plays.  You want some base metals and energy exposure.  You are seeming a lift in the commodities but it has not played through into the equities.  There is an upgrade cycle in the energy space that is due.  Mining stocks are trading at a discount to their US counter parts.  Extraction companies have a compelling risk/reward ratio.  CS-T deserves a premium multiple.  TCW-T is good in the oil space.

Unknown
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$0.020
Owned Owned
No

N/A
General Market Comment 

January 8, 2018

Market. We may be poised to return to more rational behaviour. In 2017, there were only 8 days that had more than a 1% corrective movement. Normal is closer to 40 days. You should have some wall of worry to climb, a staircase kind of look, and there was none last year. There were a lot of signs that there should've been a correction last year, but it never happened. An S&P 500 Index chart going back to 1980 showed the normal volatility up to about the late 1990s and there were plenty of corrections. From about mid-1990s, as the tech bubble took off, volatility evaporated. That resulted in a period of sideways followed by a strong market correction. This was followed by very low volatility in 2004-2008. A series of volatility followed by a correction. Even in the beginning, after the 2009 bottom, there was some pretty regular volatility. It then migrated into a period of no volatility from 2013 to 2016. In early 2016, there was a period of market volatility. We are in another one of these really low volatility periods. That usually means we usually head into a period of sideways chop or possibly a correction, but the very least we are going to get is a sideways chop. He thinks there is going to be some rotation into more value oriented sectors, some of the overlooked sectors like US banks, energy, some of the conglomerates, areas that everybody has been ignoring.

Market. We may be poised to return to more rational behaviour. In 2017, there were only 8 days that had more than a 1% corrective movement. Normal is closer to 40 days. You should have some wall of worry to climb, a staircase kind of look, and there was none last year. There were a lot of signs that there should've been a correction last year, but it never happened. An S&P 500 Index chart going back to 1980 showed the normal volatility up to about the late 1990s and there were plenty of corrections. From about mid-1990s, as the tech bubble took off, volatility evaporated. That resulted in a period of sideways followed by a strong market correction. This was followed by very low volatility in 2004-2008. A series of volatility followed by a correction. Even in the beginning, after the 2009 bottom, there was some pretty regular volatility. It then migrated into a period of no volatility from 2013 to 2016. In early 2016, there was a period of market volatility. We are in another one of these really low volatility periods. That usually means we usually head into a period of sideways chop or possibly a correction, but the very least we are going to get is a sideways chop. He thinks there is going to be some rotation into more value oriented sectors, some of the overlooked sectors like US banks, energy, some of the conglomerates, areas that everybody has been ignoring.

Unknown
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$0.020
Owned Owned
_N/A

N/A
General Market Comment 

January 8, 2018

Moving averages? There is Simple, Exponential and Weighted moving averages. Simple Moving Average is the most commonly used. On a 200-day moving average, it basically takes the average for the last 200 days, adds them up and divides by 200. Weighted basically takes the most recent days, and weights them more than the early days. Exponential is another version of a Weighted Moving Average that is more complicated, but basically further weights the most recent data. The problem with Exponential and Weighted moving averages is that it frontloads the Weighted moving average, so it is almost like having a shorter moving average. Simple is probably the easiest to understand and to use, and is also the most commonly followed.

Moving averages? There is Simple, Exponential and Weighted moving averages. Simple Moving Average is the most commonly used. On a 200-day moving average, it basically takes the average for the last 200 days, adds them up and divides by 200. Weighted basically takes the most recent days, and weights them more than the early days. Exponential is another version of a Weighted Moving Average that is more complicated, but basically further weights the most recent data. The problem with Exponential and Weighted moving averages is that it frontloads the Weighted moving average, so it is almost like having a shorter moving average. Simple is probably the easiest to understand and to use, and is also the most commonly followed.

Unknown
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$0.020
Owned Owned
_N/A

COMMENT
Altagas Ltd(ALA-T) 

January 8, 2018

The chart shows it is approaching an old support level it bounced off of in 2015 several times. The chart is not showing too many signs of it wanting to break out. Recent highs have been progressively lower and the lows are progressively lower as well. It could go back down to the mid-$20. He looked at it recently, and it didn't interest him enough to buy it.

oil/gas

The chart shows it is approaching an old support level it bounced off of in 2015 several times. The chart is not showing too many signs of it wanting to break out. Recent highs have been progressively lower and the lows are progressively lower as well. It could go back down to the mid-$20. He looked at it recently, and it didn't interest him enough to buy it.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$29.050
Owned Owned
No

COMMENT
Applied Materials(AMAT-Q) 

January 8, 2018

Chart shows a long upward trend from 2016, and the stock is still on trend. It bounced off the trend line recently. The trend is still up, so if you can tolerate the volatility, you are probably okay.

electrical/electronic

Chart shows a long upward trend from 2016, and the stock is still on trend. It bounced off the trend line recently. The trend is still up, so if you can tolerate the volatility, you are probably okay.

electrical/electronic
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$55.920
Owned Owned
Unknown

WATCH
Bank of America(BAC-N) 

January 8, 2018

It depends on whether we ‘melt up’ or not.  It seems there is a general consensus that it will be a decent year.  You could buy this on a pull back to trend support or breakout.  He is short a little on the banks.  He would look to cover it on a pull back.

banks

It depends on whether we ‘melt up’ or not.  It seems there is a general consensus that it will be a decent year.  You could buy this on a pull back to trend support or breakout.  He is short a little on the banks.  He would look to cover it on a pull back.

banks
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$30.120
Owned Owned
Unknown

BUY on WEAKNESS
Bank of America(BAC-N) 

January 8, 2018

He really likes the US banks. It’s one of the sectors that money is going to go into. The chart showed a break out in mid-2017, and perhaps has a little bit of a pullback coming. On any kind of a pullback, he would be all over this. This applies to all of the US banks. (See Top Picks.)

banks

He really likes the US banks. It’s one of the sectors that money is going to go into. The chart showed a break out in mid-2017, and perhaps has a little bit of a pullback coming. On any kind of a pullback, he would be all over this. This applies to all of the US banks. (See Top Picks.)

banks
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$30.120
Owned Owned
Unknown

TOP PICK

Has broken out of its mega long base that has been in place since 2015. This is a kind of way of owning infrastructure and properties. Also, Brookfield are money managers and manages assets. Feels they have some growth, and he loves the chart break out. He is looking at this as a 1-2 year hold at least. (Analysts' price target is $46.)

management/diversified

Has broken out of its mega long base that has been in place since 2015. This is a kind of way of owning infrastructure and properties. Also, Brookfield are money managers and manages assets. Feels they have some growth, and he loves the chart break out. He is looking at this as a 1-2 year hold at least. (Analysts' price target is $46.)

management/diversified
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$54.060
Owned Owned
Yes

HOLD
Cott Corp(BCB-T) 

January 8, 2018

It is miss-understood.  They are working on selling the soda business for a water and coffee focus.  A lot of this is baked in at current prices unless they announce a large acquisition.  He has not seen the upside here.  He finds better opportunities elsewhere.

food processing

It is miss-understood.  They are working on selling the soda business for a water and coffee focus.  A lot of this is baked in at current prices unless they announce a large acquisition.  He has not seen the upside here.  He finds better opportunities elsewhere.

food processing
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$20.830
Owned Owned
No

HOLD
Bank of Nova Scotia(BNS-T) 

January 8, 2018

Never tell anyone to sell a bank.  But he does not hold the banks.  Over the long term they all ride the same wave.  He thinks this one will benefit from the South American exposure.  But lifecos will do better than Canadian banks.

banks

Never tell anyone to sell a bank.  But he does not hold the banks.  Over the long term they all ride the same wave.  He thinks this one will benefit from the South American exposure.  But lifecos will do better than Canadian banks.

banks
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$82.460
Owned Owned
No

COMMENT
B2Gold Corp.(BTO-T) 

January 8, 2018

Gold Stocks? He doesn't like gold miners or the way they look, and is neutral to somewhat bearish. There are 1,000 places he would rather be. The chart is showing a triangular type of consolidation. It could break out, but in order for that to happen, you need gold to bust $1350, and it is nowhere near that.

Golds

Gold Stocks? He doesn't like gold miners or the way they look, and is neutral to somewhat bearish. There are 1,000 places he would rather be. The chart is showing a triangular type of consolidation. It could break out, but in order for that to happen, you need gold to bust $1350, and it is nowhere near that.

Golds
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$3.640
Owned Owned
No

HOLD
CCL Industries (B)(CCL.B-T) 

January 8, 2018

A great label maker.  A fantastic story over the years.  He would never recommend selling it.  You also have IPT-T and have been selling weak with all the hurricanes in the last weeks.  They create a lot of value but there is better value with IPT-T.  He holds this over CCL.B-T because IPT-T are earlier in their life cycle of acquisitions.

packaging/containers

A great label maker.  A fantastic story over the years.  He would never recommend selling it.  You also have IPT-T and have been selling weak with all the hurricanes in the last weeks.  They create a lot of value but there is better value with IPT-T.  He holds this over CCL.B-T because IPT-T are earlier in their life cycle of acquisitions.

packaging/containers
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$56.320
Owned Owned
No

BUY on WEAKNESS
Chorus Aviation Inc(CHR-T) 

January 8, 2018

The contract is locked in so is not a worry.  They are getting into the leasing business.  He likes that business a lot but it does not generate a high multiple.  The business is quite cyclical.  He’s waiting for a pull back and would add to it then. 

Transportation & Environmental Services

The contract is locked in so is not a worry.  They are getting into the leasing business.  He likes that business a lot but it does not generate a high multiple.  The business is quite cyclical.  He’s waiting for a pull back and would add to it then. 

Transportation & Environmental Services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$9.630
Owned Owned
No

BUY

It was a dog last year and did not do much.  There is still a lot of negative sentiment.  He believes it is build into these stock prices.  It should play a huge catch-up trade this year.  The management team disappointed a lot of investors with their last equity raise but they should be able to de-lever a lot this year. 

oil/gas

It was a dog last year and did not do much.  There is still a lot of negative sentiment.  He believes it is build into these stock prices.  It should play a huge catch-up trade this year.  The management team disappointed a lot of investors with their last equity raise but they should be able to de-lever a lot this year. 

oil/gas
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$10.060
Owned Owned
No

DON'T BUY

He's been buying oil. It’s a sector that money is going to start rotating into, because it has to play catch-up. If something has been in a downtrend, he wants it to base and then break out. That really hasn't started yet on this stock. It’s still heading down. He’s been buying oil stocks that have been breaking out from a base.

oil/gas

He's been buying oil. It’s a sector that money is going to start rotating into, because it has to play catch-up. If something has been in a downtrend, he wants it to base and then break out. That really hasn't started yet on this stock. It’s still heading down. He’s been buying oil stocks that have been breaking out from a base.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$10.060
Owned Owned
No

HOLD
DataMetrex AI Limited(DM-X) 

January 8, 2018

Artificial Intelligence.  Tech was a great theme last year and will continue this year.  They have their tentacles in every industry and will drive tremendous growth.  These companies are trading at high multiples.  He prefers NVDA-Q.  The competition is so far behind where they are.

Financial Services

Artificial Intelligence.  Tech was a great theme last year and will continue this year.  They have their tentacles in every industry and will drive tremendous growth.  These companies are trading at high multiples.  He prefers NVDA-Q.  The competition is so far behind where they are.

Financial Services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$0.420
Owned Owned
No

DON'T BUY
EnerCare Inc(ECI-T) 

January 8, 2018

A very stable business.  He cautions because there have been mishaps over the last quarters and you want some more buffer on the dividend.  They have had some big misses on earnings.

Consumer Products

A very stable business.  He cautions because there have been mishaps over the last quarters and you want some more buffer on the dividend.  They have had some big misses on earnings.

Consumer Products
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$19.900
Owned Owned
No

COMMENT
Enbridge(ENB-T) 

January 8, 2018

Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) for a 45-year-old? If he had to choose between the 2, he would probably select Enbridge (ENB-T) for the growth side and Enbridge Income (ENF-T) for the dividend.

oil/gas pipelines

Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) for a 45-year-old? If he had to choose between the 2, he would probably select Enbridge (ENB-T) for the growth side and Enbridge Income (ENF-T) for the dividend.

oil/gas pipelines
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$50.580
Owned Owned
Unknown

HOLD

Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) for a 45-year-old? He holds this. It isn't really much of a growth stock. It looked okay for a while, then started rolling over in early 2017. For people just looking for the dividend, it has pretty good support at around $27, so your downside is not huge. If he had to choose between the 2, he would probably select Enbridge (ENB-T) for the growth side and Enbridge Income (ENF-T) for the dividend. Dividend yield of about 7.5%.

oil/gas

Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) for a 45-year-old? He holds this. It isn't really much of a growth stock. It looked okay for a while, then started rolling over in early 2017. For people just looking for the dividend, it has pretty good support at around $27, so your downside is not huge. If he had to choose between the 2, he would probably select Enbridge (ENB-T) for the growth side and Enbridge Income (ENF-T) for the dividend. Dividend yield of about 7.5%.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$29.860
Owned Owned
Yes

TOP PICK

They have done an exceptional job, with the owners still being the largest shareholders.  They are now doing Software Defined Networking.  This is going to be a big year for them.  They have a big backlog and are getting some bigger deals as part of this move to Software Defined Networking.  (Analysts’ target: $20.00).

electrical/electronic

They have done an exceptional job, with the owners still being the largest shareholders.  They are now doing Software Defined Networking.  This is going to be a big year for them.  They have a big backlog and are getting some bigger deals as part of this move to Software Defined Networking.  (Analysts’ target: $20.00).

electrical/electronic
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$17.690
Owned Owned
Yes

PAST TOP PICK
Fairfax Financial(FFH-T) 

January 8, 2018

(A Top Pick Oct 31/17. Down 5%.) The stock was moving up, started to round over. This has India. Has insurance interests, which can be affected by the West Coast buyers. He’s at the point where he is trying to decide if this is a real breakdown or should he keep it. Watch this before buying if you are in new investor.

insurance

(A Top Pick Oct 31/17. Down 5%.) The stock was moving up, started to round over. This has India. Has insurance interests, which can be affected by the West Coast buyers. He’s at the point where he is trying to decide if this is a real breakdown or should he keep it. Watch this before buying if you are in new investor.

insurance
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$647.760
Owned Owned
Yes

DON'T BUY
General Electric(GE-N) 

January 8, 2018

Had owned this when it was trading somewhat in a pattern, but it broke support and he got out. It’s at the very, very early stages of "possibly basing", because it hasn't had enough time to build a base. You need a few months of sideways, upside, downside, choppy look on the chart, and then a break out before buying.

electrical/electronic

Had owned this when it was trading somewhat in a pattern, but it broke support and he got out. It’s at the very, very early stages of "possibly basing", because it hasn't had enough time to build a base. You need a few months of sideways, upside, downside, choppy look on the chart, and then a break out before buying.

electrical/electronic
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$18.280
Owned Owned
No

COMMENT

The chart shows this was in a downtrend from mid-2014. In late 2017, it broke out from a bit of a base, and looks very bullish from a technical perspective.

investment companies/funds

The chart shows this was in a downtrend from mid-2014. In late 2017, it broke out from a bit of a base, and looks very bullish from a technical perspective.

investment companies/funds
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$4.100
Owned Owned
No

WEAK BUY
Knight Therapeutics(GUD-T) 

January 8, 2018

He has looked at it out of curiosity.  It garners quite a valuation based on a cash hoard.  Let’s see them execute.  He would replace it with RX-X.  It is very similar. 

He has looked at it out of curiosity.  It garners quite a valuation based on a cash hoard.  Let’s see them execute.  He would replace it with RX-X.  It is very similar. 

0
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$8.270
Owned Owned
No

WEAK BUY

A fixed income strategy.  It is an active strategy.  It is low cost and exposure to global fixed income markets.  You are seeing late cycle inflation pressures so you want to be cautious on the bond market.  He prefers short term corporate bonds.  He also like real return bonds ZRR, XRB, for example.

E.T.F.'s

A fixed income strategy.  It is an active strategy.  It is low cost and exposure to global fixed income markets.  You are seeing late cycle inflation pressures so you want to be cautious on the bond market.  He prefers short term corporate bonds.  He also like real return bonds ZRR, XRB, for example.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$8.030
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick Jan 12/17, Down 19%)  He had to get out because they continually disappointed.  They are now getting into mobile and affordable housing.  They got a contract with the city of Vancouver.  He does not think this part of his story is fully understood.  He likes it but does not own it at present.  There is just not enough housing in Vancouver for the middle class.

oil pipelines

(A Top Pick Jan 12/17, Down 19%)  He had to get out because they continually disappointed.  They are now getting into mobile and affordable housing.  They got a contract with the city of Vancouver.  He does not think this part of his story is fully understood.  He likes it but does not own it at present.  There is just not enough housing in Vancouver for the middle class.

oil pipelines
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$1.540
Owned Owned
No

DON'T BUY

They have an incredible market cap for a company that doesn’t actually do anything yet.  It seems the last announcement they had didn’t have the testing being successful.  Be careful here.  It is being promoted.  It is interesting but he would stay clear of it.

Healthcare

They have an incredible market cap for a company that doesn’t actually do anything yet.  It seems the last announcement they had didn’t have the testing being successful.  Be careful here.  It is being promoted.  It is interesting but he would stay clear of it.

Healthcare
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$2.790
Owned Owned
No

TOP PICK
IBI Group(IBG-T) 

January 8, 2018

They went through tremendous changes over the last couple of years.  It is getting bigger.  There is a bit infrastructure theme, as well as the Smarty City business.  When they eventually build it out, it will be extremely valuable.  He would not be surprised to see a dividend in the next year.  (Analysts’ target: $9.50).

Business Services

They went through tremendous changes over the last couple of years.  It is getting bigger.  There is a bit infrastructure theme, as well as the Smarty City business.  When they eventually build it out, it will be extremely valuable.  He would not be surprised to see a dividend in the next year.  (Analysts’ target: $9.50).

Business Services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$8.560
Owned Owned
Yes

BUY
Impact Silver Corp.(IPT-X) 

January 8, 2018

CCL.B-T A great label maker.  A fantastic story over the years.  He would never recommend selling it.  You also have IPT-T and have been selling weak with all the hurricanes in the last weeks.  They create a lot of value but there is better value with IPT-T.  He holds this over CCL.B-T because IPT-T are earlier in their life cycle of acquisitions.

precious metals

CCL.B-T A great label maker.  A fantastic story over the years.  He would never recommend selling it.  You also have IPT-T and have been selling weak with all the hurricanes in the last weeks.  They create a lot of value but there is better value with IPT-T.  He holds this over CCL.B-T because IPT-T are earlier in their life cycle of acquisitions.

precious metals
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$0.345
Owned Owned
Yes

BUY on WEAKNESS
Moody's Corp.(MCO-N) 

January 8, 2018

Chart shows this was moving sideways from early 2015 and then broke out in early 2017. It looks good. It’s probably due for some correction, but generally speaking the breakout is very bullish for the stock. If it pulled back at all, he would probably be all over it.

Financial Services

Chart shows this was moving sideways from early 2015 and then broke out in early 2017. It looks good. It’s probably due for some correction, but generally speaking the breakout is very bullish for the stock. If it pulled back at all, he would probably be all over it.

Financial Services
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$155.070
Owned Owned
Unknown

BUY
Manulife Financial(MFC-T) 

January 8, 2018

Canadian insurers are set up nicely here but are taking a pause.  In a rate hike environment they will do well and he thinks this year you will see rate hikes in Canada.  You want one of these in your portfolio.  It will plod along with some nice dividend growth.

insurance

Canadian insurers are set up nicely here but are taking a pause.  In a rate hike environment they will do well and he thinks this year you will see rate hikes in Canada.  You want one of these in your portfolio.  It will plod along with some nice dividend growth.

insurance
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$26.500
Owned Owned
Yes

PAST TOP PICK
MTY Food Group(MTY-T) 

January 8, 2018

(A Top Pick Jan 12/17, Up 14%)  He recently got out because he found a better opportunity.  He does not see expected returns getting much higher.  He decided to exit.  It’s a well run company.  Everyone likes Thai Express.

food services

(A Top Pick Jan 12/17, Up 14%)  He recently got out because he found a better opportunity.  He does not see expected returns getting much higher.  He decided to exit.  It’s a well run company.  Everyone likes Thai Express.

food services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$54.000
Owned Owned
No

COMMENT
Methanex Corp(MX-T) 

January 8, 2018

The real challenge is going to be the old highs. Going back to 2014, $80 was a point of resistance. From that time, it has been dropping, and testing under $80. Now there are stronger earnings, and it could break through its current high of about $78. If it breaks the 2014 high of $80, that would be extremely bullish.

chemicals

The real challenge is going to be the old highs. Going back to 2014, $80 was a point of resistance. From that time, it has been dropping, and testing under $80. Now there are stronger earnings, and it could break through its current high of about $78. If it breaks the 2014 high of $80, that would be extremely bullish.

chemicals
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$77.380
Owned Owned
Unknown

HOLD
Nutrien Ltd.(NTR-T) 

January 8, 2018

A fairly new company – POT-T and AGU-T merged.  The global growth picture has been improving substantially.  There is a lot of positive global demand but we have not seen the pricing pressures come through.  He would hold and not buy a ton right here.  US farmers’ incomes have bottomed and could turn around.  He wants to see a few quarters go through.

agriculture

A fairly new company – POT-T and AGU-T merged.  The global growth picture has been improving substantially.  There is a lot of positive global demand but we have not seen the pricing pressures come through.  He would hold and not buy a ton right here.  US farmers’ incomes have bottomed and could turn around.  He wants to see a few quarters go through.

agriculture
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$66.850
Owned Owned
Unknown

COMMENT
ON Semiconductor(ON-Q) 

January 8, 2018

He loves it when a stock has done next to nothing for a long time, and then breaks out. From 2013-2015, the stock went sideways and then broke out a little, and fell back into its old habit. In late 2016, it did the real McCoy and broke out, did a couple of tests, and once the 2nd test was done it took off. A great looking chart.

He loves it when a stock has done next to nothing for a long time, and then breaks out. From 2013-2015, the stock went sideways and then broke out a little, and fell back into its old habit. In late 2016, it did the real McCoy and broke out, did a couple of tests, and once the 2nd test was done it took off. A great looking chart.

0
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$22.970
Owned Owned
Unknown

WATCH
Open Text(OTEX-T) 

January 8, 2018

He was researching it in the last couple of weeks.  See Top Picks.  They have done a good job of growing by acquisition.  They should improve as they integrate these acquisitions.  The big game changer is announcing of more deals.  He likes the name.  You have to trade in and out of it.  Wait for it to pull back over the next couple of quarters.

computer software/processing

He was researching it in the last couple of weeks.  See Top Picks.  They have done a good job of growing by acquisition.  They should improve as they integrate these acquisitions.  The big game changer is announcing of more deals.  He likes the name.  You have to trade in and out of it.  Wait for it to pull back over the next couple of quarters.

computer software/processing
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$42.160
Owned Owned
No

BUY
Precision Drilling(PD-T) 

January 8, 2018

They have great technology, a great fleet and a better balance sheet than in the past.  They need to show they can grow the business.  The risk/reward is skewed to the upside.  He bought calls last year.

oil/gas field services

They have great technology, a great fleet and a better balance sheet than in the past.  They need to show they can grow the business.  The risk/reward is skewed to the upside.  He bought calls last year.

oil/gas field services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$4.140
Owned Owned
No

DON'T BUY
Photon Control(PHO-X) 

January 8, 2018

It jumped on his radar a year ago and he went through it closely.  He can’t understand what is happening with the suing between management and so on and it set off a whole lot of red flags.  They have a decent underlying business but there was too much infighting.  There is the momentum trade if you hold a small amount.

electrical/electronic

It jumped on his radar a year ago and he went through it closely.  He can’t understand what is happening with the suing between management and so on and it set off a whole lot of red flags.  They have a decent underlying business but there was too much infighting.  There is the momentum trade if you hold a small amount.

electrical/electronic
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$1.940
Owned Owned
No

HOLD
Praxair Inc(PX-N) 

January 8, 2018

Industrials tend to move well until the spring, seasonally. The market looks good, and industrials have been dragged along with it. On a long basis, 2014-2017, it formed a cup and handle, and has broken out. It’s gone fairly parabolic with a steep looking trend line. That leaves it vulnerable to a correction. The breakout, though the lid that was contained since 2014, seems to have disintegrated. To him, technically it is very bullish. It might pull back as it is probably overbought, but is not a bad looking chart, especially if you can buy it on a bit of a pullback.

chemicals

Industrials tend to move well until the spring, seasonally. The market looks good, and industrials have been dragged along with it. On a long basis, 2014-2017, it formed a cup and handle, and has broken out. It’s gone fairly parabolic with a steep looking trend line. That leaves it vulnerable to a correction. The breakout, though the lid that was contained since 2014, seems to have disintegrated. To him, technically it is very bullish. It might pull back as it is probably overbought, but is not a bad looking chart, especially if you can buy it on a bit of a pullback.

chemicals
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$161.310
Owned Owned
Unknown

WAIT

Chart shows a long upward move in 2017, but starting to get volatile. This year the market might do some chop (see comments under "Market"), and the stock is already seeing some chop. You have to be careful. It’s not necessarily bearish, because it could break out. If it took out the old high, that would be bullish. If it goes into a choppy period and then breaks down through the support of about $67-$68, he would probably make for the exit. Let it play out to see if it can break its old high.

Chart shows a long upward move in 2017, but starting to get volatile. This year the market might do some chop (see comments under "Market"), and the stock is already seeing some chop. You have to be careful. It’s not necessarily bearish, because it could break out. If it took out the old high, that would be bullish. If it goes into a choppy period and then breaks down through the support of about $67-$68, he would probably make for the exit. Let it play out to see if it can break its old high.

0
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$79.050
Owned Owned
Unknown

WATCH
Power Share QQQQ ETF(QQQ-Q) 

January 8, 2018

You can’t really see the next major support, but it could be $145 and so there might be a pull back to there, if you are looking for a place to step in.

E.T.F.'s

You can’t really see the next major support, but it could be $145 and so there might be a pull back to there, if you are looking for a place to step in.

E.T.F.'s
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$162.550
Owned Owned
Unknown

PAST TOP PICK

(A Top Pick Jan 12/17, Up 44%)  Case farm equipment.  They picked up sales and the price moved up.  If they continue to execute the way they have he will continue to hold it.  They announced an acquisition in the US. 

(A Top Pick Jan 12/17, Up 44%)  Case farm equipment.  They picked up sales and the price moved up.  If they continue to execute the way they have he will continue to hold it.  They announced an acquisition in the US. 

0
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$14.000
Owned Owned
Yes

PARTIAL SELL
Russel Metals(RUS-T) 

January 8, 2018

Not a stock he has looked at in a long while.  It looks like it had a pretty decent rally.  It has not done much in 10 years, however.  He would look to lighten up and maybe buy it back if it gets to the lows.  It is an underperformer.

steel

Not a stock he has looked at in a long while.  It looks like it had a pretty decent rally.  It has not done much in 10 years, however.  He would look to lighten up and maybe buy it back if it gets to the lows.  It is an underperformer.

steel
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$29.770
Owned Owned
Unknown

BUY on WEAKNESS

He likes the acquisitions they made.  These businesses take a long time to start to really generate free cash flow.  He does not expect huge things in the next few quarters.  With a 1 to 3 year outlook, they will start to generate a lot more free cash flow.  The will start to pay a lot more dividend and you will start to see a lift in the multiple.  The $25-$28 range will make a fair entry point.

Cable

He likes the acquisitions they made.  These businesses take a long time to start to really generate free cash flow.  He does not expect huge things in the next few quarters.  With a 1 to 3 year outlook, they will start to generate a lot more free cash flow.  The will start to pay a lot more dividend and you will start to see a lift in the multiple.  The $25-$28 range will make a fair entry point.

Cable
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$28.610
Owned Owned
Yes

BUY on WEAKNESS

An infrastructure stock. Chart shows a pattern you can trade. Since 2016, it’s been stuck in a zone of about $50 to $60. Hasn't been great for anybody holding it since 2014 if they got it at the high. However, for those who like to trade, buying this at $50, and selling it at $60, makes it a brilliant strategy. If it falls to $50, he will be on this.

contractors

An infrastructure stock. Chart shows a pattern you can trade. Since 2016, it’s been stuck in a zone of about $50 to $60. Hasn't been great for anybody holding it since 2014 if they got it at the high. However, for those who like to trade, buying this at $50, and selling it at $60, makes it a brilliant strategy. If it falls to $50, he will be on this.

contractors
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$57.130
Owned Owned
No

PARTIAL SELL
Suncor Energy Inc(SU-T) 

January 8, 2018

ZWB-T vs. SU-T, which to sell.  There is nothing wrong with Canadian banks long term.  ZWB-T is his preferred way to play it.  He got out of it when it retested last year’s resistance.  He thinks we will test last year’s lows and then he would be a buyer.  SU-T is a bellwether of the market but will underperform a lot of global oil plays.  He would trim exposure and then look to buy it 10-15% lower.  He would trim both here and look to buy them back.

integrated oils

ZWB-T vs. SU-T, which to sell.  There is nothing wrong with Canadian banks long term.  ZWB-T is his preferred way to play it.  He got out of it when it retested last year’s resistance.  He thinks we will test last year’s lows and then he would be a buyer.  SU-T is a bellwether of the market but will underperform a lot of global oil plays.  He would trim exposure and then look to buy it 10-15% lower.  He would trim both here and look to buy them back.

integrated oils
Larry Berman CFA, CMT, CTA

Chief Investment Officer, Partner, ETF Capital Manageme...

PricePrice
$46.850
Owned Owned
Unknown

BUY

If there is a big rally in energy this year all of the stocks will do well.  He is looking at drilling companies as the next ones to get pricing pressure.  He thinks they are next to go up and has held PD-T for a while.  The US looks pretty attractive to him 6 months out.

oil/gas field services

If there is a big rally in energy this year all of the stocks will do well.  He is looking at drilling companies as the next ones to get pricing pressure.  He thinks they are next to go up and has held PD-T for a while.  The US looks pretty attractive to him 6 months out.

oil/gas field services
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$1.720
Owned Owned
No

BUY

Fort Hills does not make a huge difference but he thinks the diversity of their commodities is good and the market does not recognize it in their price.  They have Zinc, Copper and Coal as well.  Having that diversity of products in a company that now generates free ash flow, he thinks it makes it pretty good value.  He would not be shy buying it at these levels.  It is setting up to be a pretty nice play for the long term.

precious metals

Fort Hills does not make a huge difference but he thinks the diversity of their commodities is good and the market does not recognize it in their price.  They have Zinc, Copper and Coal as well.  Having that diversity of products in a company that now generates free ash flow, he thinks it makes it pretty good value.  He would not be shy buying it at these levels.  It is setting up to be a pretty nice play for the long term.

precious metals
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$35.480
Owned Owned
Yes

WEAK BUY
Transat A. T.(TRZ-T) 

January 8, 2018

He has looked at it a number of times.  You jump on it and the stock rolls over.  The industry can be quite cyclical.  Management is working through issues and building capacity as well as working on properties down south.  He wants to see them work through the execution and see what it looks like then.  It has pulled back on energy fears because of jet fuel and so he thinks this is a good time to load up on it, but he prefers AC-T.

Transportation

He has looked at it a number of times.  You jump on it and the stock rolls over.  The industry can be quite cyclical.  Management is working through issues and building capacity as well as working on properties down south.  He wants to see them work through the execution and see what it looks like then.  It has pulled back on energy fears because of jet fuel and so he thinks this is a good time to load up on it, but he prefers AC-T.

Transportation
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$10.990
Owned Owned
Unknown

WAIT
Americas Silver Corp(USA-T) 

January 8, 2018

Silver has a somewhat related pattern to gold, except it has some industrial applications. Stock is moving sideways, in a very volatile, but basing pattern. It needs to break that at about $5.50-$6. Until it breaks that, he wouldn't touch it.

precious metals

Silver has a somewhat related pattern to gold, except it has some industrial applications. Stock is moving sideways, in a very volatile, but basing pattern. It needs to break that at about $5.50-$6. Until it breaks that, he wouldn't touch it.

precious metals
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$5.230
Owned Owned
No

HOLD
Visa Inc.(V-N) 

January 8, 2018

The trend is your friend until it ends. This has arched off the trend line. You don't Sell until it starts breaking down. Like the market, the volatility has been very low.

other services

The trend is your friend until it ends. This has arched off the trend line. You don't Sell until it starts breaking down. Like the market, the volatility has been very low.

other services
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$119.340
Owned Owned
No

TOP PICK
Vermilion Energy Inc(VET-T) 

January 8, 2018

This is part of his thesis that energy stocks will be a beneficiary of a market rotation. Thinks there is some catch up to be done on oil. Oil moved up from about $50 to about $61, and yet this company is just starting to move. Chart shows it has based, putting in higher lows, and thinks it is just the beginning. Wouldn't be surprised if this got back into the low $50s. (Analysts' price target is $51.50.)

oil/gas

This is part of his thesis that energy stocks will be a beneficiary of a market rotation. Thinks there is some catch up to be done on oil. Oil moved up from about $50 to about $61, and yet this company is just starting to move. Chart shows it has based, putting in higher lows, and thinks it is just the beginning. Wouldn't be surprised if this got back into the low $50s. (Analysts' price target is $51.50.)

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$46.620
Owned Owned
Yes

PAST TOP PICK

(A Top Pick Oct 31/17. Up 3%.) This is not going to knock it out of the park. It's a World Index, where you are kind of buying everything all at once. Technically it is decent looking, and a pretty good stable place for the portfolio. One you can hang onto for the next number of months.

E.T.F.'s

(A Top Pick Oct 31/17. Up 3%.) This is not going to knock it out of the park. It's a World Index, where you are kind of buying everything all at once. Technically it is decent looking, and a pretty good stable place for the portfolio. One you can hang onto for the next number of months.

E.T.F.'s
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$30.010
Owned Owned
Yes

COMMENT
Valeura Energy Inc.(VLE-T) 

January 8, 2018

Chart shows this as having not moved much for about 5 years, and then went parabolic in late 2017. It’s going to be overbought, which is why it is probably currently pulling back.

oil/gas

Chart shows this as having not moved much for about 5 years, and then went parabolic in late 2017. It’s going to be overbought, which is why it is probably currently pulling back.

oil/gas
Keith Richards

Portfolio Manager, ValueTrend Wealth Ma...

PricePrice
$3.800
Owned Owned
Unknown

TOP PICK
Winpak Ltd.(WPK-T) 

January 8, 2018

A packaging idea.  A lot of negative sentiment has been put into these names.  They are getting more into recyclable products.  They have a lot of cash on their balance sheet.  He thinks now is the time to buy it on the dip.  (Analysts’ target: $55.00).

packaging/containers

A packaging idea.  A lot of negative sentiment has been put into these names.  They are getting more into recyclable products.  They have a lot of cash on their balance sheet.  He thinks now is the time to buy it on the dip.  (Analysts’ target: $55.00).

packaging/containers
James Telfser

Partner & Portfolio Manager, Aventine Management ...

PricePrice
$46.080
Owned Owned
Yes

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