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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

Date Signal Company Expert Opinion Price
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Markets.  Every time there is a Monday holiday we seem to get some market volatility.  S&P got down 9.4% and he was looking for 10, so we saw that.  16-17% of the S&P has reported already and he gives it a B+ rating.  IBM missed big, but when looking at various sectors, the change in earnings have been actually pretty good and in fact a bit better than expected by about 2-3% going into the quarter.  Revenue has been better than expected except for IBM and they are pointing to currency problems.  IBM may be a specific story.  We’ve seen some pretty good moves in financial stocks in the US after earnings reports.  He thinks it is a 70% chance it is a market bottom for now.  It may be a challenge in 2015 as the FED tries to ‘remove accommodation’.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

From a 3-5 year perspective he likes oil and gas.  He was looking for pullback and we got it.  Looking out at the dividends from the energy sector, relative to where the banks are, he likes the dividend in the energy sector much better than the banks for the next 3-5 years.  There is talk, though, in the market where Saudi Arabia are going to be complacent in the energy price and this will punish Russia.  The spike below $80 in oil is probably the bottom and certainly in the low end of the range.  Below $75 makes no sense because of cost of production.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-10-20 WATCH A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Gold.  A number of months ago he identified a double bottom.  We tested those.  But every rally has gone to lower highs.  The now triple bottom is still vulnerable.  Gold is not responding to recent S&P lows the way it should.  Wait for panic selling and then buy in for the next decade.  The lows of last year have to be taken out and then there has to be panic selling. 


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

US Dollar and portfolio adjustment.  Japan needs to continue to weaken their currency.  Euro may go to parity.  US dollar staying strong may be a drag on US earnings so you may want to change your portfolio as currencies weaken.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
David Baskin

Markets.  He is starting to pick at some stuff.  He gets the sense that the worse is over for the correction.  Same for the stories that had people nervous have started to abate.  We were three years without a pullback.  He never sells into those things.  November and December are pretty good months usually.  If you held good solid companies you only got knocked back a few percent. 


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Educational Segment.  Volatility and the Bond Market.  In his sleep at night portfolio he looked for this correction.  Bond markets have done very well.  With 3 ETFs you can buy the entire world of fixed income.  He saw a 10 point spike in their charts.  Hedged fund portfolios are forced to come and buy fixed income securities.  He looked at the spread between VIX futures.  Wednesday of last week we saw the spike in the VIX spot and the bottoming of the S&P.  What he did was to get out of a lot of fixed income and rolled it into equities while they were so low and bonds were so high.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-10-20 BUY A Comment -- General Comments From an Expert
A Commentary
David Baskin

Banks or Healthcare?  Banks in Canada have been money makers in Canada as long as the eyes can see.  Banks double every 10 years.  To invest in Healthcare you have to invest outside of Canada and lose the dividend tax credit.  He likes medical device companies.  ZMH-N is a preference in healthcare.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
David Baskin

Life Companies.  They make more money when bond yields are higher.  Right now bonds are so unrewarding.  If you are SLF-T or one of the others, then what you get on your bonds is so much less than before the financial crisis.  The question is how they can invest unearned premiums.  He thinks it is premature to buy the pure life insurance companies at this time.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 N/A A Comment -- General Comments From an Expert
A Commentary
Chris Hensen

Markets.  Buys business that generate high returns over a period of time.  His value-add is just buying good businesses.  He worries top down and invests bottom up.  He is seeing opportunities in the market since the recent correction.  He has been waiting for the valuations of certain companies to come down.  He has been adding to some positions over the recent volatility.  He expects volatility to remain as global economies continue to diverge. 


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: _N/A
2014-10-20 PARTIAL SELL A Comment -- General Comments From an Expert
A Commentary
Chris Hensen

Canadian Banks.  He does not own any in his focus fund.  If you have a big weighting in banks, it is risky.  He is concerned about the amount of leverage they have on the balance sheets.  It would exaggerate any slowdown in the next few years.  He thinks earnings will slow over the next year, so take some profits.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: No
2014-10-20 BUY on WEAKNESS Alaris Royalty
AD-T
Chris Hensen

Owns in his income finds.  Management have done well in deploying their capital.  They have a good long term track record.  Good dividend growth.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Yes
2014-10-20 DON'T BUY Agrium
AGU-T
David Baskin

Huge bumper crop in US in grains this year.  Prices in agriculture commodity companies have gone down since they went up in the past due to scares the Chinese would need so much more grains and that global warming would reduce supply.  He stays away from this sector.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 DON'T BUY Arc Resources Ltd
ARX-T
David Baskin

He is not bullish on the energy extraction industry at all right now.  There is a whole lot of oil, gas and coal in the world.  These guys are price takers.  There is nothing they can do to better their prospects in the market.  Capping wells is a bad solution for income investors.  Look in a more stable industry like a high paying REIT for income.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 DON'T BUY Bank of America
BAC-N
David Baskin

Pretty good earnings and strong quarter.  Prefers JPM-N and GS-N in preference to this one as there are skeletons in this closet.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 BUY Badger Daylighting
BAD-T
Chris Hensen

They are a pioneer of the business.  Their edge is that they manufacture the trucks.  They were ramping up their manufacturing due to demand until last quarter when they said they would take it down from 5 trucks to 4 trucks per week.  This took the momentum off the stock.  But management is managing supply with demand so they don’t flood the market and bring down their daily bill-out rate.  Buy it here for upside within a couple of quarters of about 30%.  They manage the supply side of the business which he likes.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Yes
2014-10-20 BUY Brookfield Asset Management (A)
BAM.A-T
David Baskin

He has owned it forever, one of the best managed large companies in Canada.  Smart acquisitions of assets and a top notch group.  These guys are constantly building wealth.  If he was a pension fund manager, he would put his money with them for 10 or 15 years.  This is for steady, solid appreciation over time.  He likes the parent also.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 DON'T BUY BlackBerry
BB-T
David Baskin

Their share of the smart phone market is now under 1%.  They have a new device out – passport.  Does not think they can compete against Samsung or Apple in the consumer market and they are now getting buried in the business market.  The patents are getting less valuable and the cash is dwindling so he does not know why you would buy it.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 TOP PICK Bank of Nova Scotia
BNS-T
David Baskin

A laggard.  It is difficult for Canadian banks to grow so each has its strategy.  It is in Mexico, Chili and others.  ROE is very high and dividend is attractive.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 BUY Cameco Corporation
CCO-T
Larry Berman CFA, CMT, CTA

Uranium.  He added it to his portfolio over the last week.  He thinks the sector will make a bottom, but he does not know when.  He thinks it is a very attractive sector right now and CCO-T is his preferred way to play it.  You have to be willing to sit with it because it is volatile.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Yes
2014-10-20 DON'T BUY Cameco Corporation
CCO-T
David Baskin

Cigar lake came into production finally.  Maybe nuclear power will come back or maybe it won’t.  People don’t see it as the answer like in the past.  Now we have solar power, wind power and the disaster in Japan to change people’s view.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 WATCH Canadian Pacific Rail
CP-T
Chris Hensen

It is a really good business.  Generates very high levels of return.  Does not know when hedge funds might sell this company.  There may be some short term disruptions due to this.  He does not see a lot of upside in it, but with volatility he would want to add to it (say a 25% pull back)


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Yes
2014-10-20 BUY Crescent Point Energy Corp
CPG-T
Larry Berman CFA, CMT, CTA

He turned negative 4-6 months ago.  Now he bought it at $36-$37 and it is neutral to up a little right now.  You don’t need to rush into it as you will see a lot of up and down in this sector.  Wait for the Russia/Ukraine situation to be resolved. 


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Yes
2014-10-20 DON'T BUY Crescent Point Energy Corp
CPG-T
David Baskin

Cash flow per share is the more important metric.  Don’t get fussed about the high PE ratio.  The cash flow has to pay the big dividend and replace assets as they deplete.  He has never been bullish on CPG-T because their payout seems overly optimistic.  The payout ratio is unsustainable if oil prices stay low for any period of time.  If they cut the dividend then the stock will fall like a rock.  He only has SU-T and CNQ-T.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 WATCH Cisco
CSCO-Q
Chris Hensen

They see slow spending from businesses.  Likes what they are doing increasing dividend and buying back stock.  He doesn’t like the price when he marries it with the growth potential.  Wait for lower prices (teens).


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Unknown
2014-10-20 PAST TOP PICK Canadian Utilities
CU-T
David Baskin

(Top Pick Oct 21/13, Up 4.25%) Nice and defensive if you need the income. 


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 PAST TOP PICK Empire Company (A)
EMP.A-T
David Baskin

(Top Pick Oct 21/13, Up 4.15%) Mostly the distribution.  It’s pretty stable and there are growth prospects in Western Canada.  The expectation is 6% return.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 WATCH General Electric
GE-N
Chris Hensen

Earnings last week beat expectations.  Has the highest organic growth rate when it is one of the world’s biggest companies.  The new GE is totally different than the old one.  They are deemphasizing financial services.  They will split out the rest of it next year.  Likes what management is doing.  They are focusing on business that don’t need as much capital.  He doesn’t see a lot of growth relative to the stock price.  At the end of the day it is a great business.  He just can’t pay up for it at this level.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Unknown
2014-10-20 BUY Google
GOOGL-Q
David Baskin

Stock has come down about 15%.  People didn’t like the earnings last week.  Revenue was light and EPS was light.  People are worried about the pay per click they are getting.  It is hard to find a 16 Billion dollar company growing at 20%.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 PAST TOP PICK Goldman Sachs
GS-N
David Baskin

(Top Pick Oct 21/13, Up 11.53%) Recommended on the premise that it would do a lot of investment banking and proprietary trading and that it could raise dividends.  They did all that.  It is 1.25 times book value.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 BUY Inter Pipeline
IPL-T
David Baskin

The mid stream sector took a massacre in the last 6 weeks.  Some had very high valuations, but they got sold off much too much.  He likes them.  Less commodity exposure.  They are attractive to buy right now.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 TOP PICK Magna Int'l. (A)
MG-T
David Baskin

Bought some today.  It is down significantly over the last 7 weeks.  He knew there were going to be a lot of cars sold and therefore a lot of car parts.  There are another 2-3 years of good growth in North America in the auto industry and then after that it will repeat in Europe.  A PE of 10 so it is a perfect value stock.  Earnings growth exceeded the growth in the stock.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 BUY on WEAKNESS Magna Int'l. (A)
MG-T
Chris Hensen

It has done a great job since the 2008 selloff.  One of the most diversified auto parts sellers.  The opportunity for growth is in China.  They are going to turn around their European operations where they have lower margins.  He likes what management is doing with capital.  They bought back close to $2billion in shares.  He sees an 8% return so he would add to a position at a lower price point and hold for the long term.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Unknown
2014-10-20 DON'T BUY Power Corp
POW-T
David Baskin

Went down because of bond yields and because of investor’s group management because stocks went down and so then their fees went down. He thinks the stock is cheap and the dividend is sustainable.  He would recommend being at the top of the pyramid because if value is released that is where it will happen.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-20 WATCH Transocean Inc.
RIG-N
Larry Berman CFA, CMT, CTA

The stock has been cut in half from a year ago and is very attractive here because somewhere here oil bottoms.  This stock could see more volatility and fall another 20%, but look out 5 years and it is very attractive.


Price: $0.000
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-10-20 WATCH Suncor Energy Inc
SU-T
Chris Hensen

There is no way to know where the oil price will go in a couple of years.  It is hard to invest in this area.  It is a high cost producer with the majority of assets tied up in the tar sands so when oil sells off it gets hit more.  But he likes their integrated structure with the upstream and downstream.  He just doesn’t see a lot of upside here.  He would like to see it a lot lower before adding to it.


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: Yes
2014-10-20 SELL Telus Corp
T-T
Chris Hensen

There are interesting dynamics in the space.  Are the regulators going to let in a 4th service provider?  He owns RCI.B-T.  They will all grow about the same amount.  Likes the media and broadcasting assets of Rogers.  Telus lacks this.  He doesn’t see any upside to this one.  He would swap out of T-T and into RCI.B-T


Price: $0.000
Subject: NORTH AMERICAN
Bias: SELECTIVELY BULLISH
Owned: No
2014-10-20 SELL Transalta Corp
TA-T
David Baskin

No one likes burning coal very much.  They were propped up by the dividend which they were not earning.  He would stay away from it.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-10-20 TOP PICK Trans Canada Corp
TRP-T
David Baskin

Keystone XL does not matter anymore.  Growth of the company will happen inside Canada.  They may spin out their power generating assets and release value.  This is a dividend grower. 


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 BUY Verizon Communications
VZ-N
David Baskin

Took a hit in the correction, but he thinks it is well positioned as a content provider.  He likes this one.  It is a value stock with a low PE, share buybacks, nice dividend and the ability to raise it.  He prefers it to others in Canada with the dividend tax credit because the metrics of the earnings are that much better.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-10-20 DON'T BUY Exxon Mobil
XOM-N
David Baskin

Profitable at $80 oil.  Better than Chevron. Go with the giant in this case. The easy oil is gone so everything being developed now has something tricky about it. Nothing is cheap any more. If the oil price comes down too low, many projects will get shelved and supply will come down and then the price will go up.


Price: $0.000
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-10-17 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Markets.  This is the best time in 5 years to buy energy stocks.  It is the best correction going back to 08/09.  It was not the speculative names, but the majors.  Physical demand for oil world wide remains strong.  You look at inventory spreads.  Demand is up over a million barrels a day, but financial demand for oil is very, very weak. These are people who do not expect delivery of the oil when they invest in the future.  There has been a trade to sell oil because it was strong.  This put enormous short term pressure on the price of oil.  It is thought that oil futures are grossly oversold.  US oil companies are massively outspending cash flow.  As the price hits $80 going up, their cap-X should respond.  Companies are now thinking about their 2015 spending plans.  This weak oil price is very much a self correcting oil price.  The opportunity is in Canadian oil companies and in the ones that have simply sold down with the market.


Price: $0.020
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: _N/A
2014-10-17 N/A A Comment -- General Comments From an Expert
A Commentary
James Hodgins

Markets.  He thinks this week has to do with the Fed unwinding QE.  Also, you are seeing numbers out of Europe, China and Japan that are quite worrying.  The US can implement QE without impacting the purchasing power of its currency, whereas Japan, when they did QE, created a tremendous weakness in the Yen.  Even grocery sales are down significantly.  It means the whole QE game globally is coming to an end.  We could see the Fed reverse their course, but does not think they will do that for credibility reasons.  There are record levels of debt in margin accounts, even compared to 2007.  Lighten up on risk assets and try to get diversified and not sensitive to broader market fundamentals.  Volatility is quite concerning to him.


Price: $0.020
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: _N/A
2014-10-17 SELL Altus Group
AIF-T
James Hodgins

He has been lightening up.  The big decline in energy services impacts this one.  He does not see a lot of positive change for this company.  He has a small position that he is looking to exit.


Price: $20.250
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Yes
2014-10-17 PAST TOP PICK Athabaska Oil Sands Corp
ATH-T
Eric Nuttall

(Top Pick Sep 25/13, Down 38.25%) He got out in the mid $7s.  They settled with first nations.  The challenge now is the indiscriminant selling in the energy market and which ones to buy.


Price: $4.350
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: No
2014-10-17 DON'T BUY Bonavista Energy Corp
BNP-T
Eric Nuttall

Great team, but on his uninvestible list because of their debt.


Price: $11.450
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: No
2014-10-17 DON'T BUY Calfrac Well Services Ltd
CFW-T
Eric Nuttall

He has eliminated all his service exposure except for two companies, two days ago.  CFW-T’s margin expansion will not happen and budgets will not be as aggressive as they would have been two months ago.  The whole thesis for buying these names has evaporated. Prefers producers who have hedging.


Price: $13.550
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: No
2014-10-17 BUY Cardinal Energy Ltd
CJ-T
Eric Nuttall

It is a good buy although it does not trade enough for him to get into it.  Their decline rates are amongst the lowest in the business.  The yield is a little low.  It does well in terms of capital appreciation.  It is a good name.


Price: $17.100
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: No
2014-10-17 HOLD Crescent Point Energy Corp
CPG-T
Eric Nuttall

120% payout ratio with low oil prices.  But their cash flow sensitivity is not that related to the oil price.  The dividend is safe. 


Price: $37.680
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: Unknown
2014-10-17 DON'T BUY Crescent Point Energy Corp
CPG-T
James Hodgins

Dividend stability depends on the price of oil.  If oil falls, he thinks either cap X or the dividend will have to be cut.  Does not like names with relatively high debt that attract investors with the yield.


Price: $37.680
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Unknown
2014-10-17 DON'T BUY DHX Media
DHX.B-T
James Hodgins

It is relatively expensive.  It is similar to Chorus now.  They just restructured the shares due to a CRTC requirement.  It does not have an impact on the company.


Price: $8.680
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Unknown
2014-10-17 BUY DeeThree Exploration
DTX-T
Eric Nuttall

Rock solid balance sheet and wells are getting better year after year.


Price: $7.050
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: Unknown
2014-10-17 PAST TOP PICK DragonWave Inc.
DWI-T
James Hodgins

(Top Pick Sept 30/13, Down 41.87%) The build-out never really happened.  The structure of the financing was so dilutive in the end.  It paid investors in the deal to sell the shares.


Price: $1.200
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: No
2014-10-17 WAIT Guestlogix
GXI-T
James Hodgins

Airlines are their biggest customers, whose stocks are down due to the Ebola virus.  They have 80% market share.  They have had 20 new deployments this year.  He does not expect a major uptick this quarter, but next quarter and into next year.  Revenues could be up 40%.


Price: $0.930
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Unknown
2014-10-17 BUY Ikkuma Resources
IKM-X
Eric Nuttall

Was buying this stock this morning.  Was a past pick a month and a half ago.  This is an opportunity.


Price: $1.740
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: Yes
2014-10-17 TOP PICK Ikkuma Resources
IKM-X
James Hodgins

They did a share consolidation.  It is trading ridiculously cheap here.  TD is estimating 80 cents of cash flow next year.  Great balance sheet and good growth.


Price: $1.740
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Yes
2014-10-17 PAST TOP PICK Legacy Oil and Gas Inc.
LEG-T
Eric Nuttall

(Top Pick Sep 25/13, Down 22%) He switched out this week after management issued themselves another 900k of performance units.  It is a name where they did a great job of reducing leverage.  He does not know what they have to do to gain investor traction.


Price: $4.950
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: No
2014-10-17 DON'T BUY Long Run Exploration
LRE-T
Eric Nuttall

120% payout ratio.  They could dial back Cap-X spending.  The price of oil would have to stay back for a couple of years in order to cause a dividend cut.


Price: $3.570
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: Unknown
2014-10-17 SELL Lightstream Resources
LTS-T
Eric Nuttall

Not a prime takeover candidate, payout ratio of 155%. He would not own this one.


Price: $3.940
Subject: OIL & GAS
Bias: BULLISH on OIL
Owned: Unknown
2014-10-17 SELL Lightstream Resources
LTS-T
James Hodgins

He has been short for a long time.  When they have a lot of leverage or are higher on the cost curve, they are sensitive to weak oil prices.  He thinks they will be in a lot of trouble if oil stays low.  The dividend is a big warning sign and is not sustainable.  If oil prices rallied, the stock might do fine.


Price: $3.940
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Yes
2014-10-17 TOP PICK Merus Labs International
MSL-T
James Hodgins

(Top Pick Sept 30/13, Up 5.71%) The new CEO is better than the prior.  They have expanded the drug base to 3 in the portfolio.  The new CEO will be much more aggressive at growing the portfolio of drugs from 3 to 6 next year to 12 the following year.  It is ridiculously cheap.Thinks you will see a double in the next while.


Price: $1.480
Subject: MARKET NEUTRAL INVESTING: SMALL/MID-CAP
Bias: UNKNOWN
Owned: Yes
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