STOCKCHASE

H&R Real Estate Inv Trust

75.400

(A Top Pick June 20/11. Up 2.5%.) They have the record backlogs. 787 is finally in production now and will be ramping up. Made a decision last fall to re-engine their 737’s and think it will get a lot of firm orders for this plane this year. Invested a lot of R&D with the 787 and if this starts to ramps down, the company should start generating a lot of free cash flow.

2012-05-08

DON'T BUY

Bombardier Inc (B)

BBD.B-T

3.900

Has not done very well in the last year or 2. This is one she always keeps an eye on. Got an order from Westjet but it won't move the stock forward. They have their C series on the commercial aerospace side and are planning on going ahead with that. Needs to see a few more orders. There is also an execution risk when you start to get a plane into production.

2012-05-08

BUY

BCE Inc.

BCE-T

40.500

Probably a safe haven where you can park some money. Doesn't see a lot of capital upside. Have done very well at cutting costs and generating cash flow. Have been increasing their dividend and have been buying back stock. Dividend of 5.4%.

2012-05-08

WATCH

Cisco

CSCO-Q

18.710

Reports tomorrow. Definitely on her watch list but she hasn't made any move to Buy. The call tomorrow will be important because during the past year and a half, they saw the slowdown coming as well as some increasing competition. If US growth continues to pick up, there will be some spending increases. Multiple has come down quite a bit and they have quite bit of cash.

2012-05-08

DON'T BUY

Dollarma Inc.

DOL-T

56.810

Have done very well. In this soft economy this format has really caught on. Trading at 21X earnings and she would prefer to see it at 16 or 18 times. Trades at a premium to the other Dollar stores in the US but the competition is not as intense here.

2012-05-08

BUY on WEAKNESS

Dow Chemical

DOW-N

32.110

Low natural gas prices are beneficial to this company. This is an economically sensitive name so if there is a growth scare, which there may be, this stock will pull back.

2012-05-08

TOP PICK

CGI Group (A)

GIB.A-T

21.560

Likes their backlog of over $13 billion. Good visibility on earnings. About two thirds of the business is outsourcing, so longer-term contracts. Made a couple of US acquisitions. US is a relatively new market for them but they have done very well. Trades at a very reasonable multiple. Drawback is that they do not pay a dividend so it is not attractive for an income investor. They buy back shares instead.

2012-05-08

WATCH

Corning Inc

GLW-N

13.360

They make the screens for LCD TVs and there has been weak demand for the last year or 2. It probably is undervalued because it is a cyclical name. Starting to see some stabilization in supply/demand in the last quarter. In fact continues and we see an improvement consumer demand and confidence, she expects there will be an upward movement.

2012-05-08

HOLD

Goldcorp Inc

G-T

34.400

She is looking to add to her positions when the underlying gold price stabilizes. This company has a great track record for increasing production and being a low-cost producer. Have a good plan for increasing over the next 3-4 years. Had a hiccup in their 1st quarter because their mine in Red Lake was lower than forecasted. Very solid gold producer and are in low risk regions globally.

2012-05-08

TOP PICK

HR.UN-T

24.270

Commercial REIT. Very high occupancy at over 99%. Lease term is as long as 11 years. The Bow in Calgary is near completion and Encana (ECA-T) will start moving in. They have indicated they will be increasing the distribution.

2012-05-08

HOLD

Kinross Gold

K-T

7.750

At this point, you might as well keep this one. Share price has really suffered with the problems they have had. This and other gold stocks have underperformed the actual commodity. She is long-term positive on gold. If they can show some ability to meet production targets and keep their costs under control, valuation will move upwards in the share price will improve.

2012-05-08

HOLD

RioCan Real Estate Investment

REI.UN-T

27.020

Very high quality REIT. Highest traded REIT in Canada. Retail focused. On a market pullback, you can increase your position but she wouldn't buy right now. Good yield at just under 5%. Target stores entry into Canada will help them.

2012-05-08

PAST TOP PICK

54.090

(A Top Pick June 20/11. Up 2.59%.) Likes banks in general. Their trading in capital markets is a little hard to forecast. Likes that they are in wealth management, which is less sensitive to the capital markets. Increasing their dividends.

2012-05-08

DON'T BUY

Shaw Communication (B)

SJR.B-T

19.540

Sold her holdings a while back on concerns of competition. They are experiencing competition from Telus (T-T) and are having to reciprocate by offering more attractive deals which puts their margins under pressure.

2012-05-08

Comment

SNC-Lavalin Group Inc.

SNC-T

37.050

Given time, she thinks they can recover. There is still a lot of uncertainty surrounding the stock. Numbers were disappointing in their most recent quarter and they are losing some money on some fixed price contracts. Still have to get a new CEO. If you have a long time frame, this is a cheap stock at these levels.

2012-05-08

Comment

Teck Resources Ltd. (B)

TCK.B-T

33.530

Copper and met coal producer so this growth scare has hit them. This stock is going to be sensitive to economic concerns and cycles. It is hard to say what will happen in the near term but she thinks a lot of the scare is already baked in. Over the next year and beyond, she likes this name as these products are the ones that China imports.

2012-05-08

Comment

Telus Corp

T-T

58.160

They want to collapse the voting and nonvoting structure as it is not necessary anymore. Not sure how this is going to end up but in the long run she is not sure if that will impact the share price that much. She doesn't own any telecom stocks.

2012-05-08

PAST TOP PICK

9.390

(A Top Pick June 20/11. Up 16.65%.) Largest Canadian in senior housing. Their facilities are assisted living independently so it is not funded by the government. High occupancy. Likes the demographics. There is very low penetration for seniors housing. They hope to increase this over time. Pulling back from the US market and refocusing on where they want to be. Increased their presence in Canada through Québec, which is good.

2012-05-08

TOP PICK

Unilever PLC

UL-N

34.030

60% of its business revenues are from emerging markets and they are seeing very strong growth, predicated on the expanding middle class. They are a consumers’ product company, both in food and personal care. Yield of about 3.7%.

2012-05-08

Comment

0.020

Europe situation. She is concerned. Voters are revolting there against austerity. Previous governments had promised to put in certain measures to get funding but now there is a big question mark. It is also the risk of contagion of spreading to other countries. Creates a lot of uncertainty going into the summer.

2012-05-08

Comment

0.020

Markets. She had been expecting a pullback and wasn't chasing the market when it was going up. Have been selectively selling certain names where there is no near-term catalyst. Has a list of stocks she is interested in but isn't going to Buy right now because potentially there could be more downside in Europe and she wants to see how that is going to work out first.

2012-05-08

Comment

General Motors Corporation

0.020

Natural gas. It is hard to say where this is going to go short term but you see it moving up because below $2 a lot of shut-ins occur. Longer-term investors are looking ahead knowing that in the $2.40 range is not sustainable. Larger institutional players are starting to move early to be Long natural gas versus Short. Thinks we may have seen the Lows.

2012-05-08

BUY on WEAKNESS

Tim Hortons

THI-T

57.080

Have executed very well. Trades at about a 20X multiple, which is pretty high. Surprised how they have been able to increase traffic with their new menu offerings. Has been a safe haven stock. Reporting tomorrow. Would be interested in buying about 10% lower.

2012-05-08

SELL

LuLulemon Athletica

LLL-T

74.790

Very expensive. Trades at a multiple of 45X earnings. Company has executed very well. They are in a special niche. When these plays pickup, you will see the stock come back. If you own, she would Sell, especially if we are into some rocky markets during the summer.

2012-05-08

Comment

PetroBakken Energy

PBN-T

12.600

Have looked at this from time to time but has not bought it. They are in an area that she likes. Have had a little difficulty in the last couple of years on delivering of production so she wants to see a few quarters of sustainable production and costs.

2012-05-08

PARTIAL BUY

Cenovus Energy

CVE-T

32.160

Still have a lot of natural gas in their production mix but this would decline over time. A good name if you want energy exposure. Stock prices have come back while the energy prices have come off. Probably a nice time to start picking away at this. Yield is only 2.7% and there are other companies with higher yields.

2012-05-08

DON'T BUY

Barrick Gold

ABX-T

41.710

Stocks have lagged the commodity. Likes gold for SOME money. Made a big acquisition about a year ago. They had some problems with production, getting new minds on line due to costs. Production will be flat this year. G-T has a better track record and is growing production.

2012-04-10

DON'T BUY

Bombardier Inc (B)

BBD.B-T

3.950

There is going to be execution risk. There is launch risk. The others have not been getting a lot of orders. This is depressing margins. She is not interested in the stock right now. The stock is cheap but there is no catalyst.

2012-04-10

BUY

Bonavista Energy Corp

BNP-T

17.500

(Market Call Minute) Good, safe yield. Nice mid-cap producer.

2012-04-10

TOP PICK

Canadian Natural Rsrcs

CNQ-T

31.290

Likes it being 65% N.A. crude and for their involvement in the oil sands. Crude prices should stay in the $90-$100 range. They are bear on natural gas but decided to focus more on crude but are ready to ramp up Nat Gas. Thinks they will increase dividends as they rise production. There was an outage at Horizon but they restarted it back in March. You have to focus on what they have done long term.

2012-04-10

TOP PICK

Canadian Natural Rsrcs

CNQ-T

31.290

Likes it being 65% N.A. crude and for their involvement in the oil sands. Crude prices should stay in the $90-$100 range. They are bear on natural gas but decided to focus more on crude but are ready to ramp up Nat Gas. Thinks they will increase dividends as they raise production. There was an outage at Horizon but they restarted it back in March. You have to focus on what they have done long term.

2012-04-10

PAST TOP PICK

GM-N

23.710

(Top Pick Mar 29/11, Down 22.18%) The investment thesis didn’t work out. No yield support – no dividend. Japan should want to get some market share back now that they have recovered from last year.

2012-04-10

PAST TOP PICK

Hewlett-Packard Co

HPQ-N

23.270

(Top Pick Mar 29/11, Down 42.68%) She is upset about the management there. Stock is incredibly cheap. Thinks they will deliver on forecasts.

2012-04-10

TOP PICK

H&R Real Estate Inv Trust

HR.UN-T

23.810

For the yield. Highly defensive REIT. For the income investor. Very high quality property REIT, occupancy over 90%. Matched financing to rent. Distribution will increase. 10’ish% total return on investment.

2012-04-10

HOLD

Rogers Communcations (B)

RCI.B-T

38.820

(Market Call Minute) for dividend.

2012-04-10

BUY on WEAKNESS

Crescent Point Energy Corp

55.950

Generally speaking she likes the banks and RY has dipped and that has been a function of the overall market. Increased its dividend last quarter along with some other banks so it is not at risk. If market pulls back a bit it could be a good time to put some more into a portfolio.

2012-04-10

Comment

CPG-T

40.780

Likes it because it is oil and has a nice yield. They issue equity each year because they like to acquire land every year. Hopes they will concentrate on drilling now. Dividend is safe. Each year when they issue it is at a higher price than the previous year.

2012-04-10

PAST TOP PICK

8.900

(Top Pick Mar 28/11, Up 8.15%)

2012-04-10

N/A

Brookfield Asset Management (A)

0.020

Earnings season is coming up and we want to see what managers are seeing about regional economic outlooks. Alcoa will have a feel for what is going on in the regions but they will not be a bellwether right now because copper is quite low. The commodity stocks have already factored in a slowdown in China. If they continue at 7-8% then things should be ok for resource stocks.

2012-04-10

WAIT

Scorpio Mining Corp.

SPM-T

1.090

They announced earnings and there is a question about what reserves they have in their Mexican mine. Probably prudent to wait until we see what reserve the mine is before committing more capital.

2012-04-10

HOLD

BAM.A-T

30.260

(Market Call Minute) For infrastructure exposure.

2012-04-10

SELL

PetroBakken Energy

PBN-T

15.830

(Market Call Minute) Prefers CPG

2012-04-10

TOP PICK

International Flavors & Fragrances

IFF-N

56.790

Flavorings for perfume and soaps. 46% of revenues to emerging markets. A play on the emerging consumer class in the emerging markets.

2012-04-10

DON'T BUY

Barrick Gold

ABX-T

45.670

Prefers G-T because there is a clear path to production growth for the next few years.

2012-03-08

HOLD

AGF Management (B)

AGF.B-T

15.300

A play on markets.

2012-03-08

TOP PICK

General Motors Corporation

74.170

It’s all about commercial aerospace. Defense is declining. 777 and 737 will add to cash flow. Expect order for new plane. R&D will decline over time and they will generate more cash flow. Expects share buy backs and dividend increases.

2012-03-08

HOLD

Bank of Montreal

BMO-T

57.510

It has lagged the group. Made an acquisition that she thinks will work out for them. One of the highest yielding bank stocks. Keep on holding it.

2012-03-08

BUY

Bonavista Energy Corp

BNP-T

20.550

Has come back. Perception is that low nat gas will hurt them. They realize the importance of the dividend and will cut cap x rather than dividend. There is valuation support because there would be buyers.

2012-03-08

WAIT

Cameco Corporation

CCO-T

23.160

Near term Uranium wont do much but if you have a good long-term view you could get this one. She is positive longer term on the commodity. Wait 6-12 months.

2012-03-08

TOP PICK

Canadian National R.R.

CNR-T

76.160

Down year to date. Thinks it is run the best. Focusing on improving customer service. Expects they can increase their coal share and potash share. Expect them to continue to increase dividend.

2012-03-08

BUY

Cisco

CSCO-Q

19.680

One that she is looking at to potentially add. Public sector and telecom spending has been weak. Lots of cash on balance sheet. Good entry point for a long-term investment.

2012-03-08

DON'T BUY

Encana Corp

ECA-T

19.650

No rush to get into Natural Gas. This one is really leveraged to Natural Gas. Decided to transition to liquid gas but that will take time. Nat Gas should stay depressed for at least this year.

2012-03-08

PAST TOP PICK

GM-N

25.450

(Top Pick Mar 28, 2011, Down 18.77) Likes joint venture in China. There is pent up demand in US but then scare of recession.

2012-03-08

PAST TOP PICK

Hewlett-Packard Co

HPQ-N

24.640

(Top Pick Mar 28, 2011, Down 39.04) You have to give it more time. It is too cheap to sell right here.

2012-03-08

BUY

IGM Financial Inc.

IGM-T

45.640

A fine institution. Plays it through Power Financial because of the dividend. Nothing wrong with playing it this way.

2012-03-08

WAIT

Kraft Foods Inc

KFT-N

37.910

Bought Cadbury and it will be put in International when it splits. She would prefer international for that reason. She will re-examine once it splits and she sees how each part performs.

2012-03-08

DON'T BUY

Loblaw Companies Ltd

L-T

34.360

Would not buy it here. One plus is that they own their real estate. Their systems upgrades are taking longer than they thought. We will see increased competition with Target’s introduction next year. Competitors Metro and Scobey’s have strengthened over the last few years.

2012-03-08

HOLD

Manulife Financial

MFC-T

12.000

Prefers banks. She has been using it as a source of funds for other investments.

2012-03-08

BUY

PepsiCo

PEP-N

62.950

Has lagged a bit and has been hit by input costs in their snacks division. Decided to do some restructuring. Just started looking at it. A good international play.

2012-03-08

HOLD

Rogers Communcations (B)

RCI.B-T

37.940

Has not been in telecom in the last year because competition was heating up. ARPU is not going up. This would be her favourite of the group but it will be trading in a range.

2012-03-08

BUY

56.930

Canadian Banks: Have all just finished reporting, few increasing in dividends that were unexpected. 8-10% upside potential plus dividends. Would prefer banks to pipelines or telecoms. RY in particular is a bank they like. BMO, TD also held.

2012-03-08

TOP PICK

Shawcor Ltd. (A)

SCL.A-T

32.060

Held it for a while. Market leader in pipe coating for pipelines. Big contract wins in the last 3 to 4 months. Anticipate business that they are bidding on and that they won and that is not reflected in December backlog numbers. Good way to play infrastructure for energy demand in emerging markets. Dividend will likely increase as earnings increase.

2012-03-08

HOLD

SNC-Lavalin Group Inc.

SNC-T

39.770

Didn’t sell. If you don’t own it, wait until end of March and then release their quarter. She would average down if she decides information released sounds good.

2012-03-08

BUY

Teck Resources Ltd. (B)

TCK.B-T

36.200

Great long-term play on China’s growth. They will; be sensitive to cyclical concerns. They are growing production in both copper and met coal. They also have zinc and are getting more positive on it. They have also put money into the oil sands also. Likes it. Trades at discount to NAV.

2012-03-08

HOLD

Thomson Reuters Corp

TRI-T

28.450

Sold about a year ago. Industry is still consolidating. Still laying off and that has hurt them. Consolidating legal side with financial. Dividend is attractive (4.5%) and safe. The price might not go anywhere for the next year or so but the dividend is there. It is a save investment.

2012-03-08

HOLD

TSX Group

X-T

42.880

The market doesn’t believe the $50 bid will be allowed. She says to the $50 if it is approved. It is a good hold otherwise.

2012-03-08

PAST TOP PICK

9.250

(Top Pick Mar 28, 2011, Down 18.77) They are focusing more on Canada now. Nice yield. Would continue to hold it.

2012-03-08

N/A

0.020

Markets: The Greek debt deal will be positive for markets, which are sensitive to any bad news. It has gone through and now we can focus on economic growth. Never thought US would go back into recession. Slow positive growth. China is targeting a slowdown, so that will materialize to a 7.5%-8% range. Europe is in a recession, which we expected. A market pullback or consolidation would not be surprising being the strength we had but she remains constructive for the remainder of the year.

2012-03-08

BUY

PetroBakken Energy

PBN-T

17.430

Nice turnaround. Sold some assets and did a convertible debt issue. She likes it now and will look at it more. Dividend is safe now.

2012-03-08

PAST TOP PICK

General Motors Corporation

75.460

(A Top Pick Feb 14/11. Up 6.05%.)

2012-02-08

DON'T BUY

Bombardier Inc (B)

BBD.B-T

4.820

Half of this is transportation such as big railcars and a lot of this business is in Europe. Also this tends to be lower margin. The other half is aerospace for business jets and commercial jets. There hasn't been enough C series orders coming through. Like to see more orders coming through.

2012-02-08

Comment

Cameco Corporation

CCO-T

23.080

She is waiting. Demand for uranium has lessened. If you have a long time frame of 10 years plus, it would be a good hold.

2012-02-08

WAIT

Canadian Natural Rsrcs

CNQ-T

37.920

Has pulled back because of the shutdown of Horizon for some unplanned maintenance. Company hasn't said much about this. They are a great operator and this problem will be resolved. They do have natural gas properties that they could focus on it that environment changed.

2012-02-08

TOP PICK

Canadian National R.R.

CNR-T

78.210

Best run railroad company in North America. Doesn't expect any pressure from Canadian Pacific (CP-T) which will be focusing on internal operating metrics. Expects CN to continue improving their operating ratio, which is currently under 64%. Always increases its dividend. Trading at a discount to CP.

2012-02-08

TOP PICK

CGI Group (A)

GIB.A-T

20.290

About 70% of revenue is from outsourcing and 30% is systems integration and project work, which tends to be a bit more cyclical. Outsourcing is very defensive because you typically have long term contracts and very good visibility. Just reported an excellent quarter in bookings. Backlog is over $13 billion. Stock pulled back a little because of fears of weaker orders from US government. Trading at about 12.2X forward earnings. Have consistently brought back stock.

2012-02-08

PAST TOP PICK

GM-N

25.750

(A Top Pick Feb 14/11. Down 27.24%.) Sold this in December for tax loss.

2012-02-08

TOP PICK

H&R Real Estate Inv Trust

HR.UN-T

23.390

The Bow in Calgary is essentially almost complete and should have full occupancy by year-end. Save, defensive, high-quality REIT. Over 98% occupancy so has good earnings visibility and she knows that 4.7% distributions will be increasing as occupancy ramps up.

2012-02-08

BUY on WEAKNESS

Inter Pipeline Fund

IPL.UN-T

18.590

Bought some of this when it pulled back below $18. Would wait for it to pull back again before buying. Great dividend yield support. Recently closed on their acquisition of the Danish storage terminal.

2012-02-08

BUY

Power Financial Corp

PWF-T

27.140

Slightly higher yield than banks in excess of 5%. Own Great West Life (GWO-T) and Investors Group. Great West is arguably the highest quality in terms of conservatism and has been less impacted by market sensitivities than its peers.

2012-02-08

DON'T BUY

Rona Inc

RON-T

9.260

Home retailers have generally not done too well because of the soft housing market. Sells a lot of seasonal products and we haven't had a lot of winter this year. Will likely not be reporting a very strong result. Prefers other areas of the market.

2012-02-08

BUY

Teck Resources Ltd. (B)

TCK.B-T

40.750

Likes this one longer-term. Tends to be volatile on economic news because it produces commodities, particularly coal, iron ore and zinc. Would buy it here for a long-term play on China.

2012-02-08

PAST TOP PICK

Brookfield Asset Management (A)

8.800

(A Top Pick Feb 14/11. Up 9.04%.)

2012-02-08

BUY

Unilever PLC

UL-N

32.210

Did very well last year as a defensive play as it is a huge consumers’ product company. Has pulled back along with other defensive names. Just reported their quarter and there was some margin pressures. Almost 64% of revenues are from developing markets.

2012-02-08

BUY

BAM.A-T

31.430

This is the one that she would buy if wanting to own one of the Brookfield companies. This has so many operating subs beneath them and may typically hold the majority interest in them.

2012-02-08

BUY

Agrium

AGU-T

73.100

Links agriculture in general. Delayed fertilizer buying has created a bit of uncertainty but in the long-term, she likes the fundamentals and its positioning, particularly nitrogen with this access to low-cost gas in North America.

2012-01-05

PAST TOP PICK

Potash Corp of Saskatchewan

73.530

(A Top Pick Dec 20/10. Up 20.41%.) Have a very large backlog, primarily in the commercial aerospace. They've just started delivering their 787’s and she expects that to run. Despite the fact that they have a lot of orders for the 787’s, she expects it will get a lot of orders for the 737’s this year.

2012-01-05

Comment

BCE Inc.

BCE-T

42.450

Telecom stocks have all performed quite well this last year. Thinks this is investors seeking yield and stability of earnings. Current price is over her current target price.

2012-01-05

DON'T BUY

Corning Inc

GLW-N

13.280

Has been beaten down. They have lowered guidance of late. They provide the glass for LTD TV’s and there is an oversupply due to a weak consumer environment globally.

2012-01-05

TOP PICK

Goldcorp Inc

G-T

45.950

The pullback in gold prices represents a good opportunity for investors to have gold exposure. This is a large tier 1 producer at about 2.5 million ounces which could grow to 4 million by 2015. They are in lower risk regions globally. Low-cost producer.

2012-01-05

Comment

Great West Lifeco

GWO-T

20.890

Has not done well, like all of the lifecos in Canada. This is because of a concern on interest rates. Their earnings are probably the most stable of all the lifecos. Their dividend is safe.

2012-01-05

Comment

Manulife Financial

MFC-T

11.420

If you have a 3-5 year timeframe and you are generally positive on equity markets, then this is probably a decent level. Stock is suffering from mistakes of the past. Decent yield at just over 4%.

2012-01-05

PAST TOP PICK

Newalta Corp

NAL-T

12.830

(A Top Pick Dec 20/10. Up 10.44%.) Sold her holdings in June.

2012-01-05

BUY

POT-T

43.960

Just recently announced they were shutting down 2 of their Saskatchewan mines for 6-8 weeks. This reflects the fact that they will produce to supply to keep the market in balance. Near-term we are seeing delayed demand for potash. Company thinks the market will be quite tight for 2012 with a pretty good selling season into the spring. In the long term, farm economics remains quite positive.

2012-01-05

DON'T BUY

Rogers Communcations (B)

RCI.B-T

39.320

Range bound between $35 and $40. Good yield play for income investors at 3.8%. Doesn't like telecom in general because it is too competitive right now. Very strong balance sheet and generating strong cash flow.

2012-01-05

PAST TOP PICK