Recent Opinions

Date	Signal	Company	Expert	Opinion	Price
2013-05-23	N/A	A Comment -- General Comments From an Expert A Commentary	Genevieve Roch-Decter	Markets. Just launched an energy infrastructure fund. There will be a 100 billion spent over the next 5 years in energy infrastructure. Pipelines, mid-streams, oil services, and rail. Differential will narrow with the infrastructure build. Rail stocks are hitting new highs. Oil by rail story does not evaporate if Keystone is approved and built. Producers are looking for alternative transportation because pipelines are a monopoly. CPG built rail terminals themselves. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: _N/A
2013-05-23	TOP PICK	Altagas Ltd ALA-T	Genevieve Roch-Decter	Loves it. Phenomenal run in last little while. New production in BC will increase cash flow next year. Cash flow will be 80% utility-like next year. It will get a multiple expansion next year. 3.7% dividend paid monthly. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	TOP PICK	Badger Daylighting BAD-T	Genevieve Roch-Decter	Really, really boring. When pipelines are broken they do pressurized water to fix them. At all time high but they keep growing their dividend. Lots of market share for them to gain. 600 trucks, making 3 more every week. They don’t need to raise money. Pick away to build your position. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	BUY	Black Diamond Group BDI-T	Genevieve Roch-Decter	Temporary housing accommodations. It is essentially a 5 star hotel that keeps moving around. Expanding into Australia. About to break out. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	STRONG BUY	CSX Corp CSX-N	Genevieve Roch-Decter	Prefers over Canadian railroads. A bit of a laggard because coal industry in US has been in decline. 11 times earnings vs. 18 times for Canadian. They have 3 years of backlogs awaiting them. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Unknown
2013-05-23	TOP PICK	Canexus Corp CUS-T	Genevieve Roch-Decter	7% yield. Just getting into energy infrastructure. Truck to rail and pipe to rail. Will probably increase dividend over next two years. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	BUY	ENTREC Corporation ENT-X	Genevieve Roch-Decter	Has been under a little pressure. Thinks that it is a pause, not a stop. Heavy hauling and crane services. They increased their margins last quarter. Rolling up all these acquisitions well. Wait because there might be a seller out there. But it is a buy. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Unknown
2013-05-23	BUY	Canyon Services Group FRC-T	Genevieve Roch-Decter	3.6% dividend. A fracker as opposed to a driller. Thinks it will improve. There will be a lot of increase in activity. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	BUY	Inter Pipeline Fund IPL.UN-T	Genevieve Roch-Decter	A favourite stock of theirs. Biggest holding across their client accounts. A smaller pipeline that they really like. About 40% of the oil production in Canada. Expansion plans in the oil sands. 4.6% dividend and have increased over the last 9 years. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Yes
2013-05-23	BUY	Pembina Pipeline Corp PPL-T	Genevieve Roch-Decter	Smaller pipeline. A lot of NGL infrastructure. A plan to built out a billion in infrastructure. Really steady eddie. Get paid regardless. 5% dividend but she owns for growth too. Dividend is safe. Their cost of capital keeps going down. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Unknown
2013-05-23	BUY	Shawcor Ltd. (A) SCL-T	N/A	Global piping coating company but it is in their universe. Just reported a record quarter. Just collapsed their share structure. She is waiting for an active shareholder to be bought out, perhaps at a discount and she might want to participate. It is a buy today for the retail investor. She is a Bull on Energy Infrastructure. / Be the first to comment Tweet finance	Price: $0.000 Subject: ENERGY Bias: BULL on ENERGY Owned: Unknown
2013-05-22	N/A	A Comment -- General Comments From an Expert A Commentary	John Wilson	Markets. You have to be careful when the market has been up 80% of the last number of days. There is no weakness to buy on. You have to chase the market higher. He has not been selling either. It is harder and harder to know what the risk is. A lot of Canada is determined by global growth. He is not seeing a lot of growth in the short term. He finds good things to buy in Canada. There is even some things to buy today. We may not get a correction for 4 or 5 months. / Be the first to comment Tweet finance	Price: $0.020 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: _N/A
2013-05-22	BUY	A Comment -- General Comments From an Expert A Commentary	John Wilson	Banks. Looks at tech analysis but it is not a key platform. Based on fundamentals. Does not own any Canadian banks. US regional banks have more leverage to US economy improving. He believes Canadian housing has peaked. Prefers West coast US Banks. He is buying some today. / Be the first to comment Tweet finance	Price: $0.020 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	N/A	A Comment -- General Comments From an Expert A Commentary	John Stephenson	Markets. 23% of junior mining companies on the TSX would run out of cash in 3 months or less. Private equity is starting to move into this however. Private equity has a 5 year time horizon. It is an interesting development. It is interesting that so many are looking at the resource space. / Be the first to comment Tweet finance	Price: $0.020 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: _N/A
2013-05-22	N/A	A Comment -- General Comments From an Expert A Commentary	John Stephenson	23% of mining companies on venture exchange of 3 months or less of cash. There are 8-9 hundred companies in platinum, silver and gold on TSX Venture. Not all of those companies all scrambling for the same investor dollar are going to make it. With juniors you have financing risk, commodity risk, and management risk. Thinks in the next few years 50% of them will be gone. / Be the first to comment Tweet finance	Price: $0.020 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: _N/A
2013-05-22	SELL	Barrick Gold ABX-T	John Wilson	(Market Call Minute) He is short. A lot of compression in cash flows. / Be the first to comment Tweet finance	Price: $20.210 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	PARTIAL SELL	Algonquin Power & Utilities Corp AQN-T	John Stephenson	He thinks it has had its run. He is selling down because it is now just purely a dividend story. / Be the first to comment Tweet finance	Price: $8.080 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	BUY	Alimentation Couche-Tard (A) ATD.A-T	John Wilson	(Market Call Minute) Likes it a lot. Great integration in Europe. / Be the first to comment Tweet finance	Price: $61.400 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	BUY	Bank of America BAC-N	John Wilson	(Market Call Minute) Doubled in last year. Cheap, but litigation risk. But it could do well. / Be the first to comment Tweet finance	Price: $13.310 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: No
2013-05-22	BUY	Bank of America BAC-N	John Stephenson	(Market Call Minute) It’s cheap. Harder to analyze so not his top pick. / Be the first to comment Tweet finance	Price: $13.310 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	DON'T BUY	BlackBerry BB-T	John Wilson	Uncertainty level is far too high. You have to be prepared to trade it fairly actively. Thinks they will never return to the old form of relevance. / Be the first to comment Tweet finance	Price: $15.010 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: No
2013-05-22	BUY	Blackstone Group LP BX-N	John Stephenson	(Market Call Minute) Thinks it will do really well. You want to be in a name like this. / Be the first to comment Tweet finance	Price: $22.380 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	TOP PICK	CitiGroup C-N	John Stephenson	This is the industry that lead us into the 07/08 crisis. Now the company is transitioned into a retail machine and 65% of earnings come from outside US. Deferred tax asset. It is low risk. / Be the first to comment Tweet finance	Price: $51.000 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	BUY	Celestica Inc CLS-T	John Wilson	(Market Call Minute) Great cash flow and a catalyst in the next 3 to 4 months. / Be the first to comment Tweet finance	Price: $9.350 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: No
2013-05-22	TOP PICK	Cisco CSCO-Q	John Wilson	Got into it last summer. Story has played out as he had hoped. 70% market share in core business. Really well managed company. / Be the first to comment Tweet finance	Price: $23.340 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	PAST TOP PICK	Cenovus Energy CVE-T	John Stephenson	(Top Pick Apr 10/12, Down 14.03%) Over time is one of the better quality energy companies out there, but energy is weak right now because global growth is weak. There is no reason to be there right now. Wait until industrial economy is picking up in the US and China. / Be the first to comment Tweet finance	Price: $31.040 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: No
2013-05-22	PAST TOP PICK	Dundee Corp. (A) DC.A-T	John Wilson	(Top Pick Apr 29/13, Down 1.25%) / Be the first to comment Tweet finance	Price: $36.840 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	DON'T BUY	Enerplus Corp ERF-T	John Stephenson	(Market Call Minute) No reason to buy this name. / Be the first to comment Tweet finance	Price: $16.540 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	DON'T BUY	Essential Energy Services Ltd. ESN-T	John Stephenson	Services business is a derivative of the energy business. He is skeptical of any services name right now. Avoid it. They are just too volatile. They only bring them in when times are good. / Be the first to comment Tweet finance	Price: $2.450 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: No
2013-05-22	TOP PICK	Facebook FB-Q	John Wilson	SHORT – Valuation is rich. More and more data is coming out about young people moving off of Facebook. / Be the first to comment Tweet finance	Price: $25.159 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	PAST TOP PICK	First Quantum Minerals FM-T	John Stephenson	(Top Pick Apr 10/12, Down 6.69%) It is a good company overall. Did a phenomenal job of developing mines. With the big Inmet project they will be dealing with it for some time. It’s been a great name but the catalyst didn’t happen. In the future it will be a buying opportunity. / Be the first to comment Tweet finance	Price: $19.220 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: No
2013-05-22	TOP PICK	CGI Group (A) GIB.A-T	John Wilson	Liked for a while. Integrating UK acquisitions much better than expected. They will get a higher multiple. / Be the first to comment Tweet finance	Price: $32.160 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	DON'T BUY	Husky Energy HSE-T	John Wilson	Prefers Methonex. Would rather see resolution into how this stuff gets out of the oil patch before going in too deep. / Be the first to comment Tweet finance	Price: $30.830 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Unknown
2013-05-22	BUY on WEAKNESS	Ithaca Energy Inc. IAE-T	John Stephenson	North sea operator, so a lot of abandonment liability. In terms of overall, he thinks it looks fairly attractive. Wait until the summer weakness he is predicting subsides to get your position. / Be the first to comment Tweet finance	Price: $1.880 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	HOLD	Just Energy Group JE-T	John Stephenson	Energy retailer business has struggled because people don’t want to answer to the door to them. Not a bad business but it is hard to see where dramatic growth is coming from. There is also a new American competitor. / Be the first to comment Tweet finance	Price: $7.580 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	TOP PICK	JP Morgan Chase & Co JPM-N	John Stephenson	This is the best of breed, large cap financial institution in the world today. Solid, diversified stream of earnings. / Be the first to comment Tweet finance	Price: $53.630 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	TOP PICK	KKR & Co. LP KKR-N	John Stephenson	If you believe equity markets are going higher, you could see mid 20% return for S&P so you need to be in private equity. 5.3% yield. Impeccable balance sheet. Best of breed. / Be the first to comment Tweet finance	Price: $20.510 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	SELL	Loblaw Companies Ltd L-T	John Wilson	You can see the release of value in the chart. There is a turnaround story but it is about probabilities and odds. Take your money and go. / Be the first to comment Tweet finance	Price: $49.350 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Unknown
2013-05-22	HOLD	McDonalds MCD-N	John Wilson	(Market Call Minute) Decent yield but difficult environment. / Be the first to comment Tweet finance	Price: $101.740 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: No
2013-05-22	BUY	Manulife Financial MFC-T	John Wilson	Down last two years but up on the current one. They lost some of the leverage to improving equity markets through hedging. But benefit from emerging markets. Good long term hold and you could own it here. / Be the first to comment Tweet finance	Price: $16.230 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: No
2013-05-22	HOLD	PetroBakken Energy PBN-T	John Stephenson	Thinks it will go straight sideways. Little growth. Balance sheet is improving, however. We are having demand destruction in North America, though. / Be the first to comment Tweet finance	Price: $8.300 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	HOLD	Pengrowth Energy PGF-T	John Stephenson	(Market Call Minute) dependant on asset divestitures so it is a hold to a sell. / Be the first to comment Tweet finance	Price: $5.210 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	PAST TOP PICK	Potash Corp of Saskatchewan POT-T	John Stephenson	(Top Pick Apr 10/12, Up 2.80%) It traded up and AGU weakened over time. There is a lot of production coming on in potash in the next couple of years. The reality is that farmers will skip potash in favour of nitrogen some years. Doesn’t see why you need to be here. / Be the first to comment Tweet finance	Price: $43.920 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: No
2013-05-22	DON'T BUY	Rogers Communcations (B) RCI.B-T	John Wilson	(Market Call Minute) Fully valued and losing momentum. / Be the first to comment Tweet finance	Price: $48.950 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Unknown
2013-05-22	HOLD	Royal Bank RY-T	John Stephenson	Likes Canadian financials. RY is a wonderfully well-run company. They are the Canadian global capital markets story. They are the number 10 asset manager globally and #10 advisory service. Prefers US financials right now, however. He still has TD and Commerce as well. / Be the first to comment Tweet finance	Price: $63.460 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	BUY	Shawcor Ltd. (A) SCL-T	John Wilson	Done well for him. Where others find oil is not where the pipelines are. This one has the possibility to participate in pipeline construction. Thinks the peak earnings can last for much longer than the past. / Be the first to comment Tweet finance	Price: $42.390 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	BUY	Shawcor Ltd. (A) SCL-T	John Stephenson	(Market Call Minute) A decent name to hold. / Be the first to comment Tweet finance	Price: $42.390 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	DON'T BUY	Staples SPLS-Q	John Wilson	Just under 10% yield. Fundamentals are challenging. It is a very competitive market. Expects them to shrink over the net several years. / Be the first to comment Tweet finance	Price: $15.170 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Unknown
2013-05-22	BUY	Suncor Energy Inc SU-T	John Wilson	Tremendously long lifed. Going out 3 years you could own this stock if you don’t worry month to month. Returns a lot of cash to shareholders. Ultimately he thinks Keystone will get approved but it will take longer than people think. 2.4% yield. Should increase dividend every year and maybe throw in a big buyback. If oil goes up you get good leverage to that. / Be the first to comment Tweet finance	Price: $32.500 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Unknown
2013-05-22	BUY	Telus Corp T-T	John Stephenson	He is a Telus fan. It has pretty demonstrable growth ahead of it. Dominant provider in the West on the wireless side, 8-9% growth going forward. BCE probably has 5%. It could do a lot with content. As far as defensive categories that have worked well, this has done well. / Be the first to comment Tweet finance	Price: $37.690 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	HOLD	Twin Butte Energy TBE-T	John Stephenson	Not bad on fundamentals side. But it is not a big enough producer and the cycle is working against them. / Be the first to comment Tweet finance	Price: $2.260 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	HOLD	Teck Resources Ltd. (B) TCK.B-T	John Stephenson	(Market Call Minute) Too copper and coal linked and both are under pressure. / Be the first to comment Tweet finance	Price: $29.460 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Yes
2013-05-22	HOLD	Tim Hortons THI-T	John Stephenson	For many years was a great stock. Built out their business but problem is where is growth going to come from? The US market was a struggle for them. It is hard to see where you could put another one. Dunkin Donuts has a much lower multiple. / Be the first to comment Tweet finance	Price: $57.340 Subject: NORTH AMERICAN - RESOURCE Bias: BULLISH on RESOURCES Owned: Unknown
2013-05-22	PAST TOP PICK	Vodafone Group PLC VOD-Q	John Wilson	(Top Pick Apr 29/13, Down 2.94%) / Be the first to comment Tweet finance	Price: $29.330 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-22	PAST TOP PICK	Yum! Brands YUM-N	John Wilson	(Top Pick Apr 29/13, Down 4.45%) SHORT. It was not a month long thesis. There were missteps in China. There are some growth problems in China. / Be the first to comment Tweet finance	Price: $69.830 Subject: NORTH AMERICAN - LARGE Bias: SELECTIVE Owned: Yes
2013-05-21	N/A	A Comment -- General Comments From an Expert A Commentary	Mason Granger	Markets. Thinks the timing and sentiment is starting to change. Some major pipeline projects will tend to alleviate some of the bottlenecks. If/when keystone happens it will be a big positive. Keystone should get resolved in late August. Has heard rumours that it could leak over into 2014, though. Differentials in oil prices have narrowed quite nicely. It is now about $8 and he thinks it will narrow to $5 by year-end. Gas inventories are tracking a little below their 5-year levels and that has been quite positive. We need an exceptionally hot summer from here. We are seeing some switching back from Nat Gas back into coal. The magnitude is not immaterial in the grand scheme of things. His fund is 2/3rds focused on dividend paying stocks and the rest is small cap (with significant cash flow growth) companies that should eventually get taken over by dividend payers. / Be the first to comment Tweet finance	Price: $0.020 Subject: OIL & GAS Bias: BULLISH on OIL & GAS Owned: _N/A
2013-05-21	N/A	A Comment -- General Comments From an Expert A Commentary	Joseph Schachter	Markets. Fundamentals in the oil sector are quite negative. New oil production growth in North America is more than global demand growth. Thinks normal seasonal patterns will occur this year. We are now seeing gas inventories build and if they get more than historical then prices could drop $1 for Nat Gas. You may want to take profits in Nat Gas if you are overweight and wait for a buying opportunity. / Be the first to comment Tweet finance	Price: $0.020 Subject: ENERGY Bias: BEARISH on OIL Owned: _N/A
2013-05-21	BUY	Altagas Ltd ALA-T	Mason Granger	A core holding. Likes where they are positioned. They have been acquisitive in buying stable rate of return businesses. Are well positioned going forward in terms of LNG exports. He owns it for growth and for dividend. / Be the first to comment Tweet finance	Price: $40.210 Subject: OIL & GAS Bias: BULLISH on OIL & GAS Owned: Yes
2013-05-21	PAST TOP PICK	Arc Resources Ltd ARX-T	Mason Granger	(Top Pick Jun 25/12, Up 48.13%) Has been a core holding for years. Tremendously well run company with a discipline for hedging gas prices and paying a sustainable dividend. Exciting resource behind this company and an inventory to last years. He will be scaling out of it as it has risen and will now be buying it back on a dip. He trades it. 60% gas / 40% oil. / Be the first to comment Tweet finance	Price: $27.590 Subject: OIL & GAS Bias: BULLISH on OIL & GAS Owned: Yes
2013-05-21	DON'T BUY	Athabaska Oil Sands Corp ATH-T	Mason Granger	It has struggled this year, dropping through $10 support. Perfect storm of things going wrong. COO left the company and other issues added to take the stock down. / Be the first to comment Tweet finance	Price: $6.610 Subject: OIL & GAS Bias: BULLISH on OIL & GAS Owned: No