| WEAK BUY | | Algoma Steel | AGA-T | 10.850 | At the moment, the price of steel is short so profits are very good. Long-term, they will have a difficult time. | 2004-06-23 | |
| WEAK BUY | | Emergis Inc. | EME-T | 4.070 | If everything worked out, it could be a very successful investment. At this time, it's not certain that they will. Significant risks. | 2004-06-23 | |
| HOLD | | Alcan Aluminum | AL-T | 56.400 | The difficulty is, there is almost no limit to the amount of aluminum that can be produced in the world. At the moment, the prices are good and the earnings are good. | 2004-06-23 | |
| TOP PICK | | Le Château Inc. (A) | CTU.A-T | 17.400 | Current inventories are selling very well and profits are very large. Stock has been off the map but is now rising. Selling at 6/7 X this year's earnings. | 2004-06-23 | |
| BUY | | Bank of Nova Scotia | BNS-T | 36.450 | Well-run. Has significant operations globally. Earnings this year are extraordinarily good. | 2004-06-23 | |
| VAGUE | | Bombardier Inc (B) | BBD.B-T | 4.060 | In a very difficult business. | 2004-06-23 | |
| BUY | | Niko Resources | NKO-T | 36.700 | Feels that political risks are limited. Not too speculative. | 2004-06-23 | |
| BUY | | Tundra Semiconductor | TUN-T | 22.410 | Currently doing very well. Revenues are rising in the sector. Outlook is reasonably favorable. | 2004-06-23 | |
| BUY | | Nortel | NT-T | 6.520 | Has had a very volatile history. Earnings are unknown. Their strength is their engineering and will the questions on accounting upset them. High volatility and risk, but the odds are it will go higher. | 2004-06-23 | |
| VAGUE | | Harry Winston Diamond Corp. | HW-T | 40.500 | Market capitalization is very big and shares are not that cheap. Everything else about the company is superb. | 2004-06-23 | |
| BUY | | Lucent Technologies | LU-N | 3.830 | Engineering may be more shallower than Nortel but US investors are more comfortable with it. The whole electronic industry is rising so odds are the price will rise. | 2004-06-23 | |
| TOP PICK | | Sify Limited ADR | SIFY-Q | 6.300 | The company is profitable and growing revenues between 30% and 40% on an annual basis. Relatively neglected. | 2004-06-23 | |
| BUY | | Aur Resources | AUR-T | 6.550 | Copper prices are currently good and the company is making money. | 2004-06-23 | |
| BUY | | Domtar Inc. | DTC-T | 17.550 | The industry has been in severe recession for a number of years because of cheap pulp of Asia. Outlook in the near-term looks more favorable. | 2004-06-23 | |
| VAGUE | | Angiotech Pharmaceuticals | ANP-T | 27.960 | The big question is, Will their stent covering continue to hold a major share of the market. | 2004-06-23 | |
