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

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Date Signal Company Expert Opinion Price
2014-12-15 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Markets.  You can look at oil and be scared or you can see a lot of opportunity.  Oil prices could stay here for the next 6 months, but fundamentally, half or more of the fracking in the US makes no money.  The current price is already priced into oil stocks.  Look for when it is going to recover.  He would be surprised if the Fed had any material change to the rates this week.  The energy sector is a growth sector in the US.  Most jobs over the last 6 months are directly or indirectly related to fracking.


Price: $0.020
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-12-15 BUY A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Energy.  For his sleep at night portfolio, the risk adjusted dividends are more attractive than most other sectors in the world.  In the coming months we will likely see much more volatility in the energy sector.  Nobody knows.  This is characteristic of a bottom, although it could get 10% lower.


Price: $0.020
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Yes
2014-12-15 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Educational Segment.  Forecasting Next Year.  What he thinks today could change a month from now.  Forecasting two years out is nice to have but…  In 2015 here is what might happen:  Greece:  We could be positioned for another exit.  We are starting to take a turn.  It is breaking down.  An election process over the next three weeks may not re-elect, and it could be an anti Euro party that gets in.  That is the only way to turn things around there.  It would be the first country to leave the Euro.  Russia and part of South America:  South America is stressed like Russia because of oil being the major export for their economy.  Thinks Venezuela could re-value their currency and shock the world.  Credit market spreads:  are widening and we need to be on the lookout for that.  China: next year they could miss their 7% growth projection.  China is a big risk for next year that we need to think about.  What if the FED decides to tighten next year:  Look at Euro futures.  By September and December next year, the probably of 1/2-3/4ths of a percent rate hike are already priced in.  If oil prices stabilize, the Canadian market might start to turn around.  Look at French and German bond yields:  The best performing asset this year was a US long bond.  We need to watch Euro bond yields and especially French.  When we see an extended decline in oil like this, the recovery tends to be about 15 to 25%.  We are likely to see a bottom in the next few months,.  Earning expectations need to come down.  Maybe markets will be just okay next year.  Will talk more about these things in January.


Price: $0.020
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: _N/A
2014-12-15 N/A A Comment -- General Comments From an Expert
A Commentary
Michael Bowman

Markets.  Guest reviewed The 10 Market Rules to Remember from Bob Ferrell

1.  Markets tend to return to the mean over time.  Look at the insanity right now.  It always becomes sane again.  The price of oil will not go down forever.

2.  Excesses in one direction lead to opposite excesses in the other direction.  Greed turns into fear.  Oil has probably overshot in its correction.  Investors must be patient.

3.  There is no era, so excesses are never prominent.  We all think we are smarter than the market.  But the market has a mind of its own.  We will never understand it.

4.  Exponential rapidly rising or falling markets usually go further than you think, but never go sideways.  The market will come back to the 200 day moving average.

5. The public buys the most at the top and the least at the bottom.  He does not believe in selling oil stocks right here.  If we learn nothing else today, independent thinking will always outperform the herd mentality.

6.  Fear and greed are stronger than long term resolve.  We need to have a plan.  Somehow we need to put fear and greed on the back burner and focus on the situation at hand.

7.  Markets are strongest when they are broad and weakest when they narrow to a few blue chip names.  Try to understand where the market as a whole is right now and where a particular stock fits in.  60% of the move of a security is based on the move of the market as a whole.

8.  Bear markets have three stages: Sharp Downturn, Reflexive Rebound, and a Drawn Out Fundamental Downturn.  If we are going into a bear market in oil, you will still see a rebound here.  But this is how bear markets get started.  He doesn’t believe we are going into a bear market for oil, however.

9. When all the experts and forecasters agree, then something else will happen.  Interest rates were supposed to go up this year, but they fell. 

10.  Bull markets are more fun than bear markets unless you are short.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: _N/A
2014-12-15 N/A A Comment -- General Comments From an Expert
A Commentary
Gajan Kulasingam

Markets.  People wondered how low oil would go.  Now it is a case of how long oil will stay low (6 months?  A year?).  He thinks fundamentally it should be at $75.  It is a case of who is going to cut production and how soon.  He sees $80 by the end of 2015.  When he looks at the volatility of the cash flows in energy infrastructure he is surprised how low stocks have gone.  Thinks there are some good values here.  You are going to see decent growth coming out of the US.  But will they pull the rest of the world up or will the rest of the world pull them back into recession.  Follow cash flow streams to see where they come from and how well protected they are.  He can manage equity volatility, but tries not to speculate on currency risk.


Price: $0.020
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: _N/A
2014-12-15 TOP PICK Altagas Ltd
ALA-T
Gajan Kulasingam

It is a diversified business model of power, gas and regulated utilities.  This will be one of the highest dividend growers (10% over next 3 years).  Projects they commissioned will be coming on line.  Have one of the lowest payout ratios amongst their peers.  You will see a bump up in cash flows and payout ratio.  They have the quickest chance to get a LNG projects up and running. 


Price: $36.960
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 TOP PICK American Tower
AMT-N
Michael Bowman

Is actually a REIT.  65,000 towers around the world.  Great balance sheet and great management.  They are always profitable. 


Price: $97.450
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 HOLD Algonquin Power & Utilities Corp
AQN-T
Gajan Kulasingam

Dividend is absolutely safe.  A nice stable business model.  CEO has a great track record and he thinks they will continue to grow out the business model.  The dividend could grow 8-10% over the next couple of years and cash flows will grow to support that.  They just did an equity raise to shore up the balance sheet.


Price: $9.420
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 TOP PICK Aecon Group Inc
ARE-T
Michael Bowman

Convertible debentures from Aecon.  He is looking for a more conservative way to play an equity.  5.6% yield.  You get back 100% in three years.  Not a lot of downside.  It has been hurt along with the oil situation.


Price: $9.770
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 BUY Arc Resources Ltd
ARX-T
Michael Bowman

Has been around for a long time.  Best in class.  Great management.  Probably one of the more supreme companies when it comes to managing production. 


Price: $23.430
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 BUY Brookfield Infrastucture Partners
BIP.UN-T
Gajan Kulasingam

Likes it.  Very high quality business, run by an exceptional management team.  They buy cheap depressed businesses and turn them around to sell at a profit.  Recent acquisition of telecom towers in France will fit well.  The dividend could grow at 10% for a total 15% yield.  They do well when the markets are in turmoil because they buy distressed businesses. 


Price: $46.500
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 BUY Baytex Energy Corp
BTE-T
Michael Bowman

Has been crushed.  Down to $15.74 from $48.  Cut back production and decreased dividend.  He has always liked them.  They are always ahead of the curve, the first to hire rail companies to deliver oil.    It will turn around and it will go up.


Price: $15.340
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 WATCH Chicago Bridge & Iron Co.
CBI-N
Michael Bowman

Was a top pick of his.  There is no support or resistance on this chart.  It has been in free fall.  He likes it because of valuation.  Thinks it has great value here, but he does not know where the bottom is.


Price: $38.300
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 PAST TOP PICK Comcast Corp
CMCSA-Q
Gajan Kulasingam

(Top Pick Jul 15/14, Up 0.51%) Still thinks the Time Warner Cable goes through.  There are revenue synergies.  Thinks there are going to be share buybacks.  It should get re-rated as the cash flow starts to grow.  This will be a 2016/17 story.


Price: $54.940
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 BUY Canadian National R.R.
CNR-T
Michael Bowman

58% operating ratio.  Probably getting hurt somewhat in crude by rail, but saving a ton in fuel.  You need this in your portfolio.


Price: $74.550
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 HOLD Cenovus Energy
CVE-T
Michael Bowman

Over 5% divided.   Not a pretty chart.  It is hard to see support and resistance.  Markets overshoot and over correct.  There is an over correction right here. 


Price: $19.290
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 PAST TOP PICK Danaher Corp.
DHR-N
Gajan Kulasingam

(Top Pick Jul 15/14, Up 6.72%) Thinks they will migrate away from the industrial side and toward the medical/dental side.  This is an M&A and rollup story.  The stock looks cheaper now.  The cash balance suggests they will do more M&A.  Thinks there is still more upside.


Price: $83.390
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 DON'T BUY Denison Mines Corp
DML-T
Michael Bowman

In 1997 it was $600.  At $1 now.  U-T shows where uranium is going.  $4.75 is the support level for U-T.  It will be all based on Japan.  They had issues, but are now thinking about firing up more nuclear reactors.  Prefers CCO-T, however.


Price: $1.080
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 COMMENT Encana Corp
ECA-T
Michael Bowman

Their move to get into oil means it will take all of this year and most of next year to move to the high margin oil business.  It may be beneficial to do this right now.  The oil price trend will reverse itself at some point. 


Price: $13.530
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 SELL Eagle Energy Trust
EGL.UN-T
Michael Bowman

When income trusts disappeared, this one found a loop hole where all of their assets need to be in the US.  There may be better oil plays out there.  36% yield.  It tells you that you probably don’t want to be in this stock.


Price: $2.750
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: No
2014-12-15 PAST TOP PICK 1stTr ISE Global Engineering and Construction
FLM-N
Michael Bowman

(Top Pick Dec 18/13, Down 10.33%) Liked the construction part of the market place.  They got hurt in the oil infrastructure area.  Companies in this ETF have big companies with big projects.  It is only down 10%.


Price: $43.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: No
2014-12-15 WEAK BUY Fluor Corp.
FLR-N
Gajan Kulasingam

One of the largest engineering and construction firms in the world.  It has high exposure to oil.  If you want to play in this space you have to be cognizant of the risk.  It tends to be quite volatile.


Price: $56.670
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 WAIT Flowserve Corp.
FLS-N
Gajan Kulasingam

Oil and gas exposed, but much of the cash flow is recurring and very predictable.  Mid stream and downstream cap-x are not at risk these days.  The valuation is compelling, but he is waiting to see how oil shakes out.  It gets 25% return on invested capital.  He is going to take a hard look at it when oil stabilizes.


Price: $54.800
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: No
2014-12-15 TOP PICK Gibson Energy
GEI-T
Michael Bowman

They came out in the last few days and announced increased capital expenditures.  Payout ratio of 60% and relatively modest exposure to oil.  A great company.  They are not cutting the dividend.


Price: $23.840
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 BUY Gibson Energy
GEI-T
Gajan Kulasingam

Earnings expectations have been priced into the market.  They are the most exposed to oil in the energy infrastructure space.  He expects a 10% drop in earnings, but the stock has dropped 30%.  Thinks they will continue to raise their dividend.  Thinks it is a great value.


Price: $23.840
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 BUY HAP Seasonal Rotation ETF
HAC-T
Larry Berman CFA, CMT, CTA

Thinks there is a performance fee on the mutual fund.  You have to pay a premium for an actively managed fund.  7 basis points is the basic fee before the bonus and not bad.


Price: $14.540
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-12-15 DON'T BUY Husky Energy
HSE-T
Michael Bowman

There are better things out there.  You need to be more defensive in the energy sector.  At some point oil is definitely going higher.  This one has upstream, downstream and gas stations, but he would prefer others like SU-T.


Price: $22.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 WATCH Innergex Renewable Energy
INE-T
Gajan Kulasingam

Great management team.  Great assets.  Long duration.  2017/18 projects will come on line and generate more cash flow.  It is probably fairly valued here.  He would buy at a lower level.


Price: $11.180
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: No
2014-12-15 WEAK BUY Keyera Corp
KEY-T
Gajan Kulasingam

Has been beaten up similar to other pipelines.  They have no exposure to crude oil.  He thinks it has been a victim of a sector wide sell-off.  Favourable management team and some of the best assets in the space.  6-8% dividend growth and in 2017/8 he thinks the space may consolidate and they would be a good takeout candidate.


Price: $69.700
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 TOP PICK MacQuarie Infrastructure LLC
MIC-N
Gajan Kulasingam

A favourite name.  There is significant value here.  They bought out their bulk liquids business from a partner.  6% dividend yield that will grow.


Price: $63.780
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 BUY Northland Power Inc
NPI-T
Gajan Kulasingam

He is surprised at the price reaction.  It is an independent renewable power company with renewable contract terms.  Dividend is covered.  They have a pretty good drip program so the payout is only 80% today.  There is a bit of an equity raise coming up.  He has a lot of respect for the management team.  You should be very happy with the yield.


Price: $14.690
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 BUY Oneok Inc New
OKE-N
Gajan Kulasingam

They raised their 2015 dividend guidance and the market is not giving them credit for it.  They are a US based pipeline company.  They are exposed to more commodity volatility than peers, but they do a great job of managing it.  Thinks they are being excessively punished.  They raised their guidance for 2015.  In Canada there are complications in owning this.


Price: $44.320
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 HOLD Precision Drilling
PD-T
Michael Bowman

Likes it.  Drillers will move higher before anything else moves higher.  If LNG plants start in BC and only half the companies secure projects, then half the business will go to PD-T.


Price: $6.240
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 TOP PICK Pattern Energy Group Inc
PEGI-Q
Gajan Kulasingam

One of the more resilient business models.  Thinks the dividend can grow at 12% for the next 2 to 3 years.  Share price is volatile because of hedge fund ownership.  Thinks the stock market will eventually get the right investor base for the right valuation.


Price: $23.470
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 HOLD Pembina Pipeline Corp
PPL-T
Gajan Kulasingam

Has some commodity exposure: frack spread.  But he thinks it is a very high quality business.  There is still a significant cap x program for them to drive organic growth.  When it slows down you will see more acquisitions for growth.  There is great value here.  It is just a matter of what you want to get exposure to.  It is great value.


Price: $36.830
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 WEAK BUY Painted Pony Petroleum
PPY-T
Michael Bowman

Probably a very aggressive play.  A great balance sheet.  They increased production.  Great management.  You really need to know that this is a very aggressive play and perhaps you should be more defensive in this area.  As long as you are aware it is very aggressive.


Price: $9.930
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: No
2014-12-15 PAST TOP PICK Quanta Services
PWR-N
Gajan Kulasingam

(Top Pick Jul 15/14, Down 25.89%)  Not a lot of energy exposure.  Two thirds of their business is electricity transmission in North America.  Confident in the management team.  Half of their oil and gas is long haul pipeline.  He is a buyer here.


Price: $25.850
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Yes
2014-12-15 PAST TOP PICK Guggenheim S&P 500 Equal Weight Consumer Discretionary
RCD-N
Michael Bowman

(Top Pick Dec 18/13, Up 9.99%) At the time we were looking at more growth in economics and GDP around the world.  It is a better buy than it was back then because of the oil situation.  It is not hedged.


Price: $85.440
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 DON'T BUY Transalta Renewables
RNW-T
Gajan Kulasingam

TA-T is a major shareholder and consolidates them on their balance sheet.  They will have to dilute their equity to fund the acquisition of an asset.


Price: $11.350
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: No
2014-12-15 DON'T BUY Spectra Energy
SE-N
Gajan Kulasingam

Have assets in Canada and the US.  Pipelines and gas processing.  Prefers some of the peers.  All the mid streams are on sale this week.  Good management team and great assets.


Price: $33.090
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: No
2014-12-15 BUY Stantec Inc
STN-T
Gajan Kulasingam

One of the two engineering and construction firms he likes.  You get US housing market exposure and US transportation exposure.  The stock is very attractive here.  Not much oil and gas exposure, but it sold off.  He thinks the premium of the stock is justified.


Price: $29.490
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 PARTIAL BUY Savanna Energy Services
SVY-T
Michael Bowman

He is looking for someone to know where the bottom is in oil.  Buying this one depends on oil prices.  These oil service stocks will be one of the first to move.  Perhaps stick your toe in the bottom here and get a partial position.


Price: $3.120
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 DON'T BUY Teck Resources Ltd. (B)
TCK.B-T
Michael Bowman

It is too early to get into this area, but if you already hold it then hold.  Bigger companies could be trying to squeeze them out.  Loves it, but he is not a buyer.


Price: $12.970
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 BUY Toronto Dominion
TD-T
Michael Bowman

There is lots of talk of interest rates going higher.  We should disregard the latest earnings. 


Price: $52.130
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 SELL Talisman Energy
TLM-T
Michael Bowman

If they were being bought out, would he buy? It was not bought originally for a takeover.  It means when it does happen, the reason for the investment is no longer there.  He would get out of there, sell on the speculation.


Price: $5.970
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 STRONG BUY Vanguard S&P 500 ETF
VOO-N
Michael Bowman

Great way to go.  The cheapest ones out there.  This is the way to play it.  Also, VFV-T.  Neither are hedged, but it is a Canadian dollar stock.


Price: $182.930
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Unknown
2014-12-15 BUY Veresen Inc
VSN-T
Gajan Kulasingam

Likes it.  He was negative on alliance pipeline coming up for renewal, but now he thinks it is going to pull more volume through it.  He thinks the LNG will get done.  They have the permit.  They may sell a portion of their pipeline.  The CEO is doing a good job of turning the business around and selling off non-core assets.  The dividend is safe.


Price: $14.930
Subject: INDUSTRIALS, UTILITIES and ENERGY INFRASTRUCTURE
Bias: OPTIMISTIC
Owned: Unknown
2014-12-15 BUY iUnits S&P/TSX Capped Energy ETF
XEG-T
Larry Berman CFA, CMT, CTA

If you have a longer term horizon of 3-5 years then it is a no-brainer to overweight the energy sector.  ZEO-T would alternatively not contain so much of the majors.  The smaller ones of the bigger ones have more impact.  This one should outperform the larger cap names.  It is equally weighted instead of market cap weighted.


Price: $12.150
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-12-15 PAST TOP PICK First Asset Morningstar US Momentum Index
YXM-T
Michael Bowman

(Top Pick Dec 18/13, Up 4.07%) Still likes it.  It is a momentum ETF. 


Price: $11.500
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: DEFENSIVE
Owned: Yes
2014-12-15 BUY on WEAKNESS BMO Equal Weight REITs Index
ZRE-T
Larry Berman CFA, CMT, CTA

REITs.  ZRE-T which is equally weighted is his preference.  It is starting to get interesting to him on a risk adjusted basis.  He wants to buy more if it gets lower because he likes the dividend.


Price: $18.770
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Yes
2014-12-15 COMMENT BMO US High Dividend Covered Call ETF
ZWH-T
Larry Berman CFA, CMT, CTA

Weaker Canadian dollar is better for the forestry industry, but how much is priced in right now?  This one gives exposure to all 10 economic sectors, covered call overlay and a great way to get yield into your portfolio.  But he is reducing his exposure to the Canadian/US dollar exchange rate.


Price: $16.430
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-12-15 BUY on WEAKNESS BMO Covered Call Utilities ETF
ZWU-T
Larry Berman CFA, CMT, CTA

Utility stocks are the lowest end of the spectrum in terms of volatility.  There is some energy exposure so this one really isn’t a risk free dividend.  It will be less volatility than pure energy.  We should have a bottom in the energy sector in the next couple of months.


Price: $14.600
Subject: TECHNICAL ANALYSIS & ETF's
Bias: UNKNOWN
Owned: Unknown
2014-12-12 N/A A Comment -- General Comments From an Expert
A Commentary
Bruce Tatters

Markets. Oil was at $70 the last time he was on, and it is a lot lower now. Since then there has been overall concern in the Canadian market, outside of just the energy space, because of potential collateral damage to other sectors. At that time he much preferred US banks because they were several multiples cheaper, and thought the growth rates for the next 2-3 years were going to be better. Canadian bank valuations have come down considerably at 12.25-12.5 times 2015 earnings, and are now 11-11.5. Outside of energy, he doesn’t think alarm bells are sounding, but just that there was too much enthusiasm in places like the banks, the rails, etc. As we get into 2015, he thinks there will be a lot of interesting opportunities. When you see a market coming down, rather than jumping in front of the freight train, you just stay out of the way and let things settle in. With all of the weakness, he is just keeping his powder dry until the new year.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: _N/A
2014-12-12 N/A A Comment -- General Comments From an Expert
A Commentary
Bruce Tatters

Natural gas. Has very different dynamics than oil. Used in power generation, heating, etc. Natural gas has also come down in the last couple of months, not nearly as much as oil and has had a much better relative year. The cost curve for a lot of the gas companies is far below where gas is trading right now. This a bit of a gamble on winter weather.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: _N/A
2014-12-12 N/A A Comment -- General Comments From an Expert
A Commentary
Jaime Carrasco

Energy. The one thing people don’t talk about is what oil is going to be priced in. The key loser in this whole strategy will be US shale. What does this mean on the geopolitical picture between Saudi Arabia and the US and what is going on with Iran, as well as the deal that Rush adjusted with India? On a long-term basis, he thinks this is good for Canadian producers. It’ll be very interesting over the next quarter as to how quickly production declines. He lowered his positions in oil about a month ago, and is now just waiting to go back in. Thinks we are going to hit that bottom where it is going to be way overcorrected, and then it is going to correct back up to a level where it is going to settle. His company has a $75 oil target where they think oil is going to settle.


Price: $0.020
Subject: RESOURCE, UTILITY & REITs
Bias: OPTIMISTIC
Owned: _N/A
2014-12-12 N/A A Comment -- General Comments From an Expert
A Commentary
Jaime Carrasco

Affect of falling oil prices on Edmonton real estate? Wait and see what actually happens to oil prices. He thinks the light is going to shine a little bit better on the nature of fracing wells, as to how rapid the supplies come down. Unlike Canadian oil, which is very low declining ratios, a fracing well is extremely rapid. Expects that within the 1st quarter we are going to start to see inventory numbers come down rather quickly. Too early to tell. Wait to see how much cut back there is in Alberta.


Price: $0.020
Subject: RESOURCE, UTILITY & REITs
Bias: OPTIMISTIC
Owned: _N/A
2014-12-12 N/A A Comment -- General Comments From an Expert
A Commentary
Jaime Carrasco

Gold. Price has been moving higher along with the US$ in the last 1.5 months. Also, the decline in energy prices is really good for gold producers, because that is 30% - 60% of their input costs. Profitability should be picking up in Q1 and Q2. What factors affect the price of gold? We have to look at the disconnect between paper gold and physical gold. Countries have been repatriating their gold.


Price: $0.020
Subject: RESOURCE, UTILITY & REITs
Bias: OPTIMISTIC
Owned: _N/A
2014-12-12 TOP PICK Apple
AAPL-Q
Bruce Tatters

(A Top Pick Oct 14/14. Up 12.49%.) He is looking for about 20%-25% earnings growth for 2015. For 2015, we are probably going to see 20%-25% earnings growth year-over-year. The following year, it will probably be 10%-15%. A wildcard is how well the wearable category is going to do for them. Thinks there are some new categories coming. Yield of 1.7%.


Price: $109.730
Subject: NORTH AMERICAN - LARGE
Bias: OPTIMISTIC
Owned: Yes
2014-12-12 TOP PICK Agnico-Eagle Mines
AEM-T
Jaime Carrasco

(A Top Pick Dec 20/13. Up 5.29%.) A low cost gold producer. What he likes is that they are acquiring a lot of the competition. Well positioned to going forward. Cost of production is below $800, so they are actually making a lot of money in this environment. He has faith that the monetary madness we are going through will have its consequences. Gold is the ultimate money, not as a fiat currency.


Price: $28.050
Subject: RESOURCE, UTILITY & REITs
Bias: OPTIMISTIC
Owned: Unknown
2014-12-12 COMMENT Altagas Ltd
ALA-T
Jaime Carrasco

This is one that he would consider adding at this point.


Price: $37.060
Subject: RESOURCE, UTILITY & REITs
Bias: OPTIMISTIC
Owned: Yes
Showing 181 to 240 of 135,246 entries