STOCKCHASE

CML Healthcare Income Fund

37.850

Canadian Oil Sands (COS.UN-T) or Crescent Point (CPG-T)? Prefers Crescent Point as it has a slightly higher yield and has far more growth potential. 7.25% yield. (See Top Picks.)

2010-01-29

BUY on WEAKNESS

Bank of Nova Scotia

BNS-T

44.830

Canadian banks, at least temporarily, are a little out of favour now. Primary concern in the short term is capital as the new Basil requirements may slow the ability to raise dividends.

2010-01-29

HOLD

Russel Metals

RUS-T

17.300

A good hold for the dividend. Not expecting it to go up anytime soon. A window onto the steel industry and the outlook is better but it's slow in coming.

2010-01-29

Comment

Barrick Gold

ABX-T

37.120

His theory is that these are the ones that pushed gold to the mini-peak because they were unwinding their hedge. Gold is currently in a natural pullback. Technically, gold could go down a little bit more. If you think gold is going higher, this would be a Hold.

2010-01-29

BUY

CLC.UN-T

13.300

Canadian lab business with some smaller US tuck-ins and they are working out to show some growth. Safe place to be in the market with a 7.5% dividend.

2010-01-29

BUY

PetroBakken Energy

PBN-T

29.650

A Bakken play and striking out into the Cardium side with the latest 2 acquisitions. Paid kind of on the expensive side per barrel but there is a lot of drilling coming. Looking at little more like Crescent Point (CPG-T) in that they are building up a great number of multi-years of drilling. Good price.

2010-01-29

Comment

35.010

Primarily coal, which has a lot of demand from China. Concerns that China will be putting brakes on growth have had a fairly major impact on all base metals. As fear eases, this will go back over $40 eventually. Will probably wait before reinstituting an aggressive dividend policy.

2010-01-29

TOP PICK

Potash Corp of Saskatchewan

13.580

Primarily Canadian infrastructure with toll crossroad in Israel and Ecuador airport as big contracts. Acquired an oil sands and oil sands related company in February, which won the big fire-bag restart from Suncor (SU-T). Stock really moved on this but has now pulled back. Good backlog.

2010-01-29

TOP PICK

Suncor Energy Inc

SU-T

33.760

Has dropped back with the retreat in oil prices. You have the restart on the oil sands side. Best operator there. Still 2 or 3 years of synergies that they can pull out of the Petrocan acquisition as well as a couple of dispositions of non-core assets.

2010-01-29

TOP PICK

Agrium

AGU-T

60.140

If you were going to buy one fertilizer stock, this is it. You get the retail side in the US and Canada. You get pieces of all 3 of potash, nitrogen and phosphate. There is also still the chance that they acquire C F industries.

2010-01-29

PAST TOP PICK

Kinross Gold

K-T

17.310

(A Top Pick Jan 26/09. Down 16.81%.)

2010-01-29

PAST TOP PICK

Shoppers Drug Mart Corp

SC-T

42.550

(A Top Pick Jan 26/09. Down 3.63%.) Think there will be a pop on this one.

2010-01-29

PAST TOP PICK

POT-T

105.920

(A Top Pick Jan 26/09. Up 16.56%.)

2010-01-29

TOP PICK

Goldcorp Inc

G-T

41.120

Really good growth. Trying to acquire a Junior in Mexico, which is next to the big growth and will be able to grow and replace reserves for the next 4-5 years.

2009-12-30

TOP PICK

Shoppers Drug Mart Corp

SC-T

44.650

Essentially flat for the year because of concerns about the Ontario government's possible legislation on pharmaceuticals. 20% below where it would normally be. Very cheap.

2009-12-30

TOP PICK

14.920

All the contracts are now being signed and putting them together you get a growing infrastructure play, which isn't so dependent on the economy. Trading at 12X next years earnings.

2009-12-30

PAST TOP PICK

71.050

(A Top Pick Feb 2w3/09. Up 51.6%.) In spite of competition he loves the valuation of 13X forward earnings, which is half of Apple’s (AAPL-Q).

2009-12-30

PAST TOP PICK

Great West Lifeco

GWO-T

26.780

(A Top Pick Feb 2w3/09. Up 86.6%.) Expecting a normal 8%-10% increase from this point on.

2009-12-30

PAST TOP PICK

Agrium

AGU-T

65.810

(A Top Pick Feb 2w3/09. Up 42.8%.) Trying to acquire C F Industries. Still likes. 2-year outlook is really good.

2009-12-30

Comment

Thompson Creek Metals

TCM-T

12.400

Molybdenum. The prices have been rising but have now started to flatten out. Moly prices will only continue to go up if the economy continues to improve. Strictly an economic play.

2009-12-30

DON'T BUY

Yellow Pages Income Fund

YLO.UN-T

5.350

Sold his holdings because of worries on the balance sheet but they have been addressing it quite well by pushing their maturities out. Debt is still pretty high. Auto Traders hasn't worked. Didn't want to take a chance of a cut in distributions again. Their recent reset preferreds would be a better deal as they are yielding over 7%.

2009-12-30

BUY

PetroBakken Energy

PBN-T

32.360

PetroBakken (PBN-T) or Crescent Point (CPG-T)? Likes the Bakken play and both of these companies but in the short term prefers PetroBakken, which has a better value.

2009-12-30

Comment

A Comment -- General Comments From an Expert

39.220

PetroBakken (PBN-T) or Crescent Point (CPG-T)? This one has an 8 to 10 inventory of drilling plays. Likes the Bakkens and both of these companies but in the short term prefers PetroBakken, which has a better value.

2009-12-30

Comment

Red Back Mining Inc

RBI-T

14.840

Gold in Africa, South America, Surinam and a little in Quebec. Had a nice run like all golds. Prefers Iamgold (IMG-T), which is cheaper on a price to net asset value as well as better growth.

2009-12-30

Comment

A Commentary

0.020

Gold. The pullback of $1220-$1090 has surprised him. Thinks you should still be in gold but he is not looking for $2000. 1200 to 1250 would be reasonable and as it gets back there in the next 6 months, he will lighten up his holdings.

2009-12-30

DON'T BUY

Petrobank Energy and Resources

PBG-T

51.100

Over top of PetroBakken (PBN-T) and PetroMinerales (PMG-T) and has an enhanced recovery process. When PetroBakken was weak and PetroMinerales was where it was, you got the heavy oil for free when you owned this stock but now you have to pay about $6. When you pay almost nothing he would buy this one but he prefers the Bakken play at this time.

2009-12-30

Comment

Progress Energy Resources

PRQ-T

14.120

There will be a bunch of shale gas play around giving a little bit too much gas and too easy to find. You need really cold weather for a couple of months, which he doesn't think is very likely. If a trader, think about getting out at the end of January but for a long term hold, they have a good balance sheet, pays a good dividend and has good drilling prospects.

2009-12-30

Comment

Pembina Pipeline Income Trust

PIF.UN-T

17.540

Yield is very important and what you do with your business trusts because they are going to have to convert. This one might be able to get away with a small cut in distributions. The business is good and grows. Would be a little nervous as it has been going up a lot lately and if it got to $18 he would consider a trim.

2009-12-30

SELL

Arc Energy Trust

AET.UN-T

19.980

Well managed but there is a potential small cut when they convert to a corp. Even a small cut in the short term would hurt the price so he would consider Crescent Point (CPG-T), which has already converted and the yield is very similar and they have better growth.

2009-12-30

BUY

Nexen Inc

NXY-T

25.180

This and Talisman (TLM-T) are statistically 2 of the cheapest oils. Thinks this one is a takeover candidate in the $33-$35 range. Slowly getting their act together on Long Lake.

2009-12-30

HOLD

Canadian Imperial Bank of Commerce

CM-T

67.920

Canadian Imperial (CM-T) or National Bank (NA-T). Which would you sell? As Canadian Imperial have cleared up their problems, it has become a well-run Canadian retail bank and probably the one with the best 2-3 year outlook. Prefers Toronto Dominion (TD-T)

2009-12-30

SELL

National Bank of Canada

NA-T

59.990

Canadian Imperial (CM-T) or National Bank (NA-T). Which would you sell? Would only own this when it is a big discount to the others. Prefers Toronto Dominion (TD-T)

2009-12-30

DON'T BUY

Sherritt International Corp.

37.760

Has pulled back with the rest of the commodities. Have fixed the balance sheet. Outlook for coal is better. Tied to Asia and China better than others. If there is a pullback in the group, it will pull back more than the others. Longer term it will be fine.

2009-12-30

BUY

Power Corp

POW-T

28.820

This or the underlying assets, Great West Life (GWO-T) and Investors Group (IGM-T)? He owns Great West. Nothing wrong with IGM. Also have media assets. All 3 dilute it a little. Has no problem with this one but a slight preference for Great West.

2009-12-30

HOLD

MagIndustries Corp.

MAA-T

0.485

Huge potash deposits on the west coast of Africa and have a signed deal to send it to Brazil. Just needs financing to put it into play. Memorandum of Understanding with Sino Hydro has been delayed twice. Think they will definitely get financing and it's only a matter of time.

2009-12-30

SELL

Daylight Energy Trust

DAY.UN-T

10.190

Gassy. Has moved up a little but will probably have to cut its double-digit yield distributions. Expect it will retreat at that point. If you want to be tricky, you could sell it now and buy it back after the cut. He prefers something oilier.

2009-12-30

DON'T BUY

Denison Mines Corp

DML-T

1.310

Like uranium but doesn't particularly like this company. His least favourite. He owns Paladin (PDN-T), which has better growth, better mines, lower costs and is a little cheaper.

2009-12-30

HOLD

Precision Drilling Corp.

PD.UN-T

7.680

(Market Call Minute.) Recovered somewhat. A lot of it is gas oriented. A hold at best.

2009-12-30

BUY on WEAKNESS

Canadian National R.R.

CNR-T

57.090

(Market Call Minute.) Would like it to be a little bit cheaper. A definite buy in the low $50's.

2009-12-30

BUY

Connacher Oil and Gas

CLL-T

1.300

(Market Call Minute.) Small-cap, juniorish oil sands play. Pretty cheap. As they bring it into production he expects the stock to be $1.50-$1.60 later on.

2009-12-30

HOLD

Westshore Terminals Inc.

WTE.UN-T

14.150

(Market Call Minute.) Coal terminal in BC. Expects there will be more demand for coal from Asia.

2009-12-30

Comment

Canadian Pacific Rail

CP-T

56.930

(Market Call Minute.) If you like East-West shipping of coal, grain and potash this would be a preference over CNR.

2009-12-30

Comment

Thomson Reuters Corp

TRI-T

33.810

(Market Call Minute.) Has been flat for a year, which he finds perplexing. He is looking at this one. Cheap.

2009-12-30

TOP PICK

S-T

6.080

1/3rd each of nickel, coal and oil. Has pulled back sharply. NAV of $11 with little value for Abitobe, the big nickel mine that comes on in Madagascar in 2011. When that comes on it goes up to $13-$14.

2009-12-07

TOP PICK

Suncor Energy Inc

SU-T

36.760

Best oil sands play with lowest cost and longest history. Going to finish off Firebag 3 and 4. Great long-term story.

2009-12-07

TOP PICK

Manulife Financial

MFC-T

18.010

Sold half his position when they cut the dividend but at $18 it is trading under 10 X earnings. Great long-term business. Will probably make Asian acquisitions.

2009-12-07

PAST TOP PICK

Toronto Dominion

TD-T

66.200

(A Top Pick Dec 23/08. Up 74.2%.) Still his favourite bank. Likes the retail aspect. Think they will do a better than average job on the US retail. A switch to Royal (RY-T) wouldn't be bad.

2009-12-07

PAST TOP PICK

Agrium

AGU-T

63.790

(A Top Pick Dec 23/08. Up 77.7%.) Still likes. Thinks that nitrogen, potash and phosphate will all have a pretty good 2010. Buy on weakness.

2009-12-07

PAST TOP PICK

Kinross Gold

K-T

21.020

(A Top Pick Dec 23/08. Up 5.9 %.) Didn't keep pace with bullion because of operational problems in Brazil and will take several quarters to fix. Still a buy.

2009-12-07

BUY

Onex Corp

OCX-T

23.350

Lots of cash. Trading at a fair size discount to NAV. Long-term track record of investing is great. You'll have to be patient.

2009-12-07

Comment

MagIndustries Corp.

MAA-T

0.490

Green field potash mine on the west coast of Africa. A deal with Sino Hydro was postponed but the company feels they will come back in the next few weeks.

2009-12-07

BUY

63.400

Reports 17th Dec. and has started to act a little better in the last few days and there are rumblings that the quarter will be decent. Trading at 11 or 12 times earnings.

2009-12-07

HOLD

Bank of Montreal

BMO-T

54.050

His least favourite bank. Has a little bit of trouble with their strategy and their US exposure. (See Top Picks.)

2009-12-07

BUY

Bank of Nova Scotia

BNS-T

48.610

Good international exposure. You can expect a 10% total return including dividends.

2009-12-07

BUY

Trans Canada Corp

TRP-T

34.500

Pre-raise money and acquired Keystone. Stock has finally gone through the issue price. Not looking for an increase in dividends until late 2011 and 2012. 4.4% dividend.

2009-12-07

BUY on WEAKNESS

38.700

Converted from a trust. Loads of growth with years of prospects in the Bakkens. A little expensive so try to buy it on weakness.

2009-12-07

DON'T BUY

Barrick Gold

ABX-T

44.630

Suspects that in closing out their hedge book they were partly responsible for gold going over $1200. Still the biggest gold company and has the most trouble to grow because of its size. Prefers companies with production growth.

2009-12-07

BUY

Eldorado Gold

ELD-T

13.830

Good management. Has production growth, which he likes in a company.

2009-12-07

BUY on WEAKNESS

Goldcorp Inc

G-T

43.560

Has probably had a bit of overreaction on the down side, which gives a trading opportunity as opposed to a long-term hold. $38 would be a great entry point.

2009-12-07

BUY on WEAKNESS

Bird Construction Income Fund

14.840

Had a big pop on the announcement by Suncor (SU-T) of starting up of Firebag #3 and #4 which will be done by their acquisition earlier this year.

2009-12-07

DON'T BUY

Bombardier Inc (B)

BBD.B-T

4.730

Transportation side is okay but the aerospace side is dicier and he doesn't own it because of that. Too unpredictable.

2009-12-07

Comment

SNC-Lavalin Group Inc.

SNC-T

48.330

Looking at this and others such as Bird Construction (BDT.UN-T), Armtec (ARF.UN-T) and IBI (IBG.UN-T) because of the infrastructure aspects.

2009-12-07

BUY on WEAKNESS

BDT.UN-T

33.540

Looking at this and others because of infrastructure aspects. 5.4% yield. Would be interested at $30.

2009-12-07

Comment

Legacy Oil + Gas Inc.

LEG-T

9.700

Just did a reverse 1 for 6 split that pushed the stock price up. Management has a good track record with other companies. Has a lot of Bakken plays to drill.

2009-12-07

BUY

Encana Corp

ECA-T

29.380

Encana split into 2 separate companies Encana (ECA-T) and Cenovus (CVE-T). If you combined the 2 prices, this would be as cheap as they have been in quite a while. This one is the gassy side but this is the premier company and it will have growth despite the price of gas.

2009-12-07

Comment

Cenovus Energy

CVE-T

25.500

Encana split into 2 separate companies Encana (ECA-T) and Cenovus (CVE-T). If you combined the 2 prices, this would be as cheap as they have been in quite a while. This one is getting cheap under $26. Still not 100% oil.

2009-12-07

BUY

Avenir Diversified Income Trust

AVF.UN-T

4.800

Small Junior oil/gas as well as a real estate division and a gas marketing division. Asset value of $6 and pays 14% yield. Believes the most likely scenario is that it goes private or breaks up in some manner.

2009-12-07

HOLD

Cogeco Cable

CCA-T

35.430

(Market Call Minute.)

2009-12-07

SELL

TorstarCorp (B)

TS.B-T

6.680

(Market Call Minute.) It survives but it's not a business he is interested in.

2009-12-07

HOLD

Westshore Terminals Inc.

WTE.UN-T

13.500

(Market Call Minute.) Passes on coal through the BC terminal and has a pretty good yield.

2009-12-07

DON'T BUY

Bonavista Energy Trust

BNP.UN-T

20.100

(Market Call Minute.) Gassy and not his favourite place to be. Would prefer Progress (PRQ-T), which has better drilling upside.

2009-12-07

BUY

PetroBakken Energy

PBN-T

30.480

(Market Call Minute.) This is the merger of Tristar and Petrobank’s Bakken play. Undervalued by 10%-15%.

2009-12-07

TOP PICK

Eldorado Gold

ELD-T

11.460

Just announced a 32% increase in reserves in their Turkey mine. Probably has the best production profile of the 5 or 6 large Canadian gold companies. Good management.

2009-10-28

TOP PICK

Canadian National R.R.

CNR-T

50.750

A tentative cyclical way to get some economic exposure. Great management and really good cost control. As soon as there is a start of some volume and recovery in the economy, it will drop right to the bottom line and you could get $60.

2009-10-28

TOP PICK

Toronto Dominion

TD-T

62.380

(A Top Pick Nov 25/08. Up 58.58%.) The group is off a little more than 10% and there are general rumblings that the earnings are going to be quite good. Attractive at this level.

2009-10-28

PAST TOP PICK

BCE Inc.

BCE-T

25.470

(A Top Pick Nov 25/08. Down 28.98%.)

2009-10-28

PAST TOP PICK

Rogers Communcations (B)

RCI.B-T

30.300

(A Top Pick Nov 25/08. Down 10.41%.)

2009-10-28

DON'T BUY

30.720

Finds it a little overvalued and would like a pull back into the $25-$27 range.

2009-10-28

BUY

37.100

Saskatchewan Bakken play. Good value.

2009-10-28

STRONG BUY

Sherritt International Corp.

65.400

13X earnings and 25% earnings growth makes it a good buy. Could see it doubling in a few years but could see it reaching $100. Not losing market share. Apple (AAPL-Q) is growing a bit faster. Nokia (NOK-N) and Motorola (MOT-N) are the ones losing market share

2009-10-28

BUY

Agnico-Eagle Mines

AEM-T

66.100

Any of the senior golds would be fine. His preferences are Eldorado (ELD-T), Iamgold (IMG-T) and GoldCorp (G-T). (See Top picks.)

2009-10-28

WEAK BUY

Denison Mines Corp

DML-T

1.590

Uranium prices started to turn around in the last few weeks. A commodity that had not moved and was overdue so he likes uranium longer-term. Prefers Paladin Resources (PDN-T) to this one because of its lower costs and a better growth profile.

2009-10-28

BUY

MagIndustries Corp.

MAA-T

0.600

Junior potash that has an understanding with Sino Hydro in China and is hoping it will be signed by Friday. Thinks it will go through so he would buy it here.

2009-10-28

BUY

S-T

6.800

Having a conference call at 2 PM. It was $.19 and the consensus was $.13 If you like nickel, the pullback represents a buying opportunity. Had dipped to $6.01, which would be a great entry point if it went there again.

2009-10-28

BUY

Avenir Diversified Income Trust

AVF.UN-T

5.000

Have made a couple of small oil acquisitions. Pretty low payout at around 65%. Thinks there is a chance that it will go private. 14% yield. Nobody follows it and it is under the radar screen. Asset value is about $6.

2009-10-28

BUY

Potash Corp of Saskatchewan

POT-T

100.960

Did relatively well in the recent pullback. Holding up well because of a rumour that BHP Billiton (BHP-N) would like to buy them. Still a couple of quarters away from decent earnings.

2009-10-28

BUY

Sunlife Financial

SLF-T

28.820

Because of their mutual fund side, when markets pull back, they pull back too. 5% yield and 11X earnings.

2009-10-28

Comment

A Comment -- General Comments From an Expert

A Commentary

0.020

Now that we are up 5+% for September, a shallow correction would be back to 11,000. There is a lot of money on the sidelines. He is increasingly thinking that a correction won’t happen since everyone is expecting it. Market is overvalued for US consumers, but oils, for example, are still attractive. Not putting any more cash into this market right now. If we were to get the correction, he would then.

2009-09-15

VAGUE

HBP NYMEX Nat'l Gas Bull+

HNU-T

2.700

This is a trading vehicle. As soon as they bounce around, they start losing track with the underlying commodity. The split wont affect the investor. Would prefer a senior Gas company.

2009-09-15

HOLD

Sunlife Financial

SLF-T

31.220

Flat in an up market. Stocks in this group are lagging a little. Still worry there is exposure to credit in the UK. Be patient. You get paid well to wait.

2009-09-15

BUY

89.200

It sells off a week or so before earnings if the expectation is for lower earnings. He thinks it will be as expected and the next quarter will be above. Could take profits if it is $95 just before earnings.

2009-09-15

BUY

Suncor Energy Inc

SU-T

38.650

Not too late to buy even though it has had such a run-up. Could buy half now and the rest if there is a pull-back. They now have time to massage some of the assets from Petro Canada.

2009-09-15

HOLD

29.250

Can throw past seasonality out the window. They fixed the balance sheet and now outlook for coal prices is much better than it was 6 months ago. In another 6 months it will be fine. Would be a candidate to pull back more than the market if a correction occurs.

2009-09-15

BUY

37.480

Previous issue they did closed today so there was some flipping done. Will show above average growth. Dividend wont change bit stock price will go up.

2009-09-15

WAIT

Bank of Nova Scotia

BNS-T

48.500

Likes it. But it just went up so wait to buy. Hold on to it for the dividend. Take profits over $50

2009-09-15

BUY