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

Recent Opinions

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Date Signal Company Expert Opinion Price
2016-11-28 BUY Enbridge
ENB-T
John Stephenson

Feels energy and pipelines will do well in a Trump world. This one has a nice balance of projects, and has been a very solid, stable player. It has shown growth unlike many of the other dividend plays. Has a big backlog of projects. Really well-managed company.


Price: $57.420
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 TOP PICK Facebook
FB-Q
Teal Linde

The selloff from the Trump election is a great entry point for anyone who has been watching the stock and looking for the time to buy. Last quarter, revenues were up 56%. Next year revenues are expected to go 35%, earnings per share 27%. For that type of growth, you typically have to pay a pretty rich multiple. Because of the selloff, it is currently trading at 23X next year’s earnings. They have room to expand. The average Facebook user in the US generates about $14 in advertising revenue per month. In Europe, it is about $5. In Asia it is $2. (Analysts’ price target is $155.10.)


Price: $120.410
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Yes
2016-11-28 TOP PICK Facebook
FB-Q
John Stephenson

One of the ones that hasn’t participated in any meaningful way, and had a few stumbles of late, but when you look at the franchise, it is incredible. They have huge margins of over 60%. They haven’t really done anything with video advertising. You have 1.7 billion people who are active monthly users, a huge number. They’ve really proven that they can monetize mobile, and really are the place to go online. Now is a pretty good time to get in, when you have had large cap tech really not participating in this rally. (Analysts’ price target is $55.10.)


Price: $120.410
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Yes
2016-11-28 TOP PICK Five Below Inc
FIVE-Q
Teal Linde

A stock for those who wished they had bought Dollarama (DOL-T). Dollarama is successful because it is basically moving its price point up from $1 up to $2, $3 and to $4. This company simply started selling items at $5 or less. Secondly, they cater to the teenage market. Thirdly, they only have 500 stores in the US, and want to get to 2000. They are growing at 20% on the top and bottom lines, faster than Dollarama with more runway. Trading at only 26-27 times next year’s earnings. (Analysts’ price target is $49.07.)


Price: $42.330
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Yes
2016-11-28 BUY First Quantum Minerals
FM-T
John Stephenson

(Market Call Minute.) You want to be in materials, and this is one of the leaders.


Price: $15.740
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 DON'T BUY Frontier Communications Corp
FTR-Q
John Stephenson

Thinks the Dividend yield of over 11% is safe, but questions if there will be any appreciation in the stock. You might see the stock continue to remain under pressure. He would be on the sidelines with this.


Price: $3.690
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: No
2016-11-28 HOLD General Motors Corporation
GM-N
Teal Linde

Ford (F-N) came out with results, and earnings are falling this year and earnings forecasts are falling next year. They decided it is because of increasing price competition, however, if you go to the General Motors press release, their results are strong and they are citing increased volume on stronger pricing. This company is able to hold its pricing, and they are at the lowest levels of promotion. Earnings estimates are up this year and are steady for next year. Dividend yield of about 5%.


Price: $34.050
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: No
2016-11-28 TOP PICK Alphabet Inc. (A)
GOOGL-Q
Teal Linde

This sold off after the election. In terms of growth rate and valuations, the revenues next year are expected to grow 16%, EPS growth of 19%, and you only have to pay 19X earnings to get that. Consumer staple stocks are trading at 20, 21, 22 times earnings, and the revenue growth is only 2%. (Analysts’ price target is $967.70.)


Price: $780.230
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Yes
2016-11-28 TOP PICK Gap
GPS-N
John Stephenson

*Short* Had a good run last quarter, and is up quite substantially, but is up substantially on not a lot of news, and with not anything particularly encouraging. Margins have dropped from 2014, where they were roughly 17%, and are now trending around 10%. Margins are contracting and they are struggling with e-commerce. The bright spot has been Old Navy which has done relatively well. This industry is very fickle in terms of fashion and getting that brand layup. Dividend yield of 3.61%. (Analysts’ price target is $26.20.)


Price: $25.480
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Yes
2016-11-28 DON'T BUY Hudson Bay Co.
HBC-T
John Stephenson

The company is excellent, but it is a retailer. It had a big bump a couple of years ago, largely on the fact that it was seen as a very savvy real estate play. This has gone down over the last little while. It is going to be harder to see the pull-through from Saks in Canada. It is very, very hard in a bricks and mortar business, although this is one of the better operators out there. He would avoid this right now.


Price: $14.590
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: No
2016-11-28 COMMENT Hudbay Minerals Inc.
HBM-T
John Stephenson

Overall, a really good company and well-managed. Feels it will do reasonably well going forward.


Price: $9.240
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 DON'T BUY Home Capital Group
HCG-T
Teal Linde

The housing boom we have experienced in Canada really started around 2001. This was one these types of companies who where in their heyday. Canadian housing market has exceeded what we have seen in the US, so he feels that the run is done. We are now at a point where there is a higher likelihood that the Canadian housing market is going to flat line or pull back. There are better opportunities elsewhere, where you are not getting in at the end of a 15-year industry boom.


Price: $29.120
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Unknown
2016-11-28 HOLD Interfor Corp
IFP-T
Teal Linde

Compared to Canfor (CFP-T) and West Fraser (WFT-T), this has the least exposure to the softwood lumber issue. Only 15%-20% of their product is shipped across the US border. 60% of their production is already in the US. The housing market in the US is growing, but is still growing quite slowly because of the land restraints and labour supply shortages.


Price: $14.630
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Unknown
2016-11-28 COMMENT Raging River Exploration
RRX-T
Teal Linde

Thinks the oil crash has given this company a whole new lease and purpose. When oil was at $100, management was talking about being close to having to become a dividend player or have to sell the company. In this environment, they have been very successful in acquiring other assets, and that has been sort of their growth strategy. Production is at only 20,000 barrels a day, so they still have a lot of room to grow as a consolidator in their industry.


Price: $9.710
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Unknown
2016-11-28 COMMENT Royal Bank
RY-T
Teal Linde

Take some profits? If you are a short-term trader, he would take some money off the table. However, he thinks this is a core holding for the long-term.


Price: $89.270
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Yes
2016-11-28 COMMENT Sun Life Financial Inc
SLF-T
John Stephenson

(Market Call Minute.) A great time to be in financials.


Price: $51.670
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 DON'T BUY Transalta Corp
TA-T
John Stephenson

(Market Call Minute.) Has had a good run lately, but given that it is a utility you don’t want to be here.


Price: $7.350
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 DON'T BUY Teck Resources Ltd. (B)
TCK.B-T
Larry Berman CFA, CMT, CTA

This is a very popular stock in Canada. For several years, he has said avoid, avoid, avoid. China is slowing copper. Now the stock has gone absolutely insane. It’s a momentum play right now, and it terrifies him to no end to try and buy this. He would avoid. If you are going to be in it, you must use really tight stops. This is a momentum play behind the “infrastructure spend”, and he is just not sure it is going to materialize.


Price: $34.660
Subject: STOCKS & ETFs
Bias: CAUTIOUS
Owned: No
2016-11-28 HOLD Teck Resources Ltd. (B)
TCK.B-T
John Stephenson

A year or 2 ago, he recommended shorting this with China slowing down and their huge debt load. Then he recommended going Long on it. Right now, he would not be short this, you want to be Long, because it is getting its balance sheet in shape and has improved its financial division dramatically. As well, copper and coal have had nice runs. Feels there is still significant upside to go.


Price: $34.660
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 PAST TOP PICK Visa Inc.
V-N
John Stephenson

(A Top Pick Dec 16/15. Down 0.22%.) A really strong story with revenue growth in the high single/low double-digit. Margins are in the low 60% range. It has been a tough time for cyclicals until now, and we are beginning to see a lift.


Price: $79.080
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Yes
2016-11-28 COMMENT Walgreen Boots Alliance
WBA-Q
John Stephenson

Overall this is a decent company. For pharmacy companies in general, will some of the acquisition mode be curtailed under a Trump administration? A bit of a risk for this name. If you want to stay in this area, he would be inclined to move to CVS (CVS-N). Overall though this is a good name.


Price: $85.350
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: Unknown
2016-11-28 HOLD Western Forest Products Inc.
WEF-T
Teal Linde

Trading near a 52-week low, and 3rd quarter results were one of the best in the company’s history. It has the largest exposure to Asia, and their species mix allows them great products which are desired by the Japanese in particular. Well-managed and the balance sheet is in good shape. Dividend yield of about 4%.


Price: $1.870
Subject: NORTH AMERICAN - LARGE/MID CAPS
Bias: UNKNOWN
Owned: Unknown
2016-11-28 DON'T BUY Wal-Mart Stores Inc.
WMT-N
John Stephenson

A great company. The problem is, it is an enterprise that is so large that they have all the incremental shoppers, and there is nothing more that can be done. They are struggling with e-commerce. In the law of large numbers, it is hard to move the needle. Expects margins will continue to be under pressure for some time.


Price: $71.190
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: BULLISH
Owned: No
2016-11-25 N/A A Comment -- General Comments From an Expert
A Commentary
Ryan Modesto

Market. It’s always nice for markets to go higher, but you don’t always want to look at the past price, you always have to look at forward expectations being priced in the market. If you were a believer in an efficient market in 2016, you are taking it on the chin right now between BREXIT and the US election. Nobody thought Donald Trump would win, but not only did he win, but the forecasters got the actual market reaction wrong. What is most interesting is that there is no talk of valuations now. There is still a lot of uncertainty. If you are taking leverage to invest in the market to chase that next hot stock, pinch yourself, take a breath, and ask yourself if the fundamentals are backing these types of moves. He loves dividends on stocks, especially dividend growth. A lot of people are buying the higher yielders, but he prefers the ones that can grow their yield over time. Prefers total returns over just straight dividends. The ones that grow yield over time usually have a bit more financial flexibility in that they cannot only grow, but can take those excess funds and reinvest them in growth.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: _N/A
2016-11-25 WAIT A Comment -- General Comments From an Expert
A Commentary
Ryan Modesto

Marijuana? At this point it is hard to call this an investment. You are speculating. On 2018 sales, they are trading at about 6 to 8 times sales, depending on which company you are looking at. You have to wait 2 years until valuations get to maybe a reasonable level, and you are still talking high growth tech company type valuations. When they are moving 10%-20% on any given day, on limited news if any, it is speculation. With the government releasing their review by the end of November, there is kind of a catalyst on the horizon, but he would prefer to wait for the report to come out.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 N/A A Comment -- General Comments From an Expert
A Commentary
Jon Vialoux

Market. The best 6 months of the year started off with a shock with a presidential election. The technical cue to get into the market for the best 6 months’ trade was actually realized on November 7, a couple of days before the election itself. There was a gap higher from the 200-day moving average, and then the market just took off from there. Everyone was pessimistic going into the election results, and everybody was hedged, so essentially you didn’t get that shock selloff event. The market just kept on grinding higher. From about mid-2015 to early 2016, we have been bumping up against the 200-day moving average as resistance. Now that we have confirmed that as a level of support, cash is coming off the sidelines and the markets are grinding higher, and everyone is becoming more cyclically focused. They are shedding their defensive positioning, especially in bonds, utilities and staples.

US $. The pace of the rise is presenting concern. Up 6% in this quarter alone. When we get 4th quarter earnings come January, we could see that bite some of the companies, and that is a risk. The US$ rising itself is not bearish, but represents a strengthening economy, it is just the pace of the rise. If you have a rapid rise like we have seen this quarter, they can weigh on some economic data.

Retail. Seasonally, retail tends to peak today, so you want to shed your retail positioning and rotate back into the broader sector, the consumer discretionary sector.

Canadian Banks. Next week starts the Canadian bank earnings, which typically creates a “sell on news” event. We have had a phenomenal run since the period of seasonal strength began for some of these Canadian bank stocks back in August. You want to take those allocations in your Canadian banks, avoid the “sell on news” events, and look for US alternatives, hopefully on a bit of a pullback.

S&P 500. Everyone is waiting for a retracement because, after all, this market just shot up unexpectedly. The best period to assume that a pullback will occur is during the tax loss selling period. Seasonality remains positive through the beginning of December, and then we get the tax loss selling period, which occurs between December 7 and December 15 on average. The S&P 500 has only been positive 20 out of the past 50 periods. 60% of the time it is negative. Average loss is about .05%, so it’s not a big deal.

Santa Claus Rally. This runs from December 15 to the new year with an average gain of 1.91% on the S&P 500, and it has been positive 80% of the time for the past 50 years. If you want to have the retracement to get into some of these positions, the best period to look for that is during tax loss selling.


Price: $0.020
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: _N/A
2016-11-25 N/A A Comment -- General Comments From an Expert
A Commentary
Jon Vialoux

Cdn$? This is heavily influenced by the price of oil. You get a bump up in the spring for summer driving season. The price of oil goes higher and so does the Cdn$. Summer driving season is over and there is no demand for oil, so the price of oil goes lower and so does the Cdn$. The period of seasonal weakness is between October and mid-December. If you are trading US investments, you probably don’t want to have them hedged at this point, because you are going to get that benefit from a falling Cdn$.


Price: $0.020
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: _N/A
2016-11-25 COMMENT Apple
AAPL-Q
Jon Vialoux

Technology in general tends to do well from October through to January. There are some technical concerns on this. Even though we are in the period of seasonal strength for technology, this really hasn’t benefited with the other economically sensitive names, post the Trump election rally. There was a trend break, and it is starting to curl over again at about the 50-day moving average. The market is telling you that that intermediate level of resistance is going to hold, and could potentially turn lower.


Price: $111.790
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 COMMENT AutoCanada Inc.
ACQ-T
Ryan Modesto

This is in a tough position. They are facing a battle on 2 fronts. One is “peak auto” and the other is Alberta weakness. They are trying to deal with the Alberta concentration by diversifying into areas like Ontario. If you are a long-term value investor, this is interesting. He is a bit worried about the debt, which he thinks is getting high, so would like to see some active pay down on their debt load. If you are patient, this should do well over a 3-5 year timeframe. However, if impatient and want more growth, you are probably okay to leave it.


Price: $20.450
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 SPECULATIVE BUY Amaya Gaming Group Inc.
AYA-T
Ryan Modesto

This is playing out like a movie. He couldn’t believe the recent news with the ex-CEO and the offer by the company. Apparently, he has letters of content with some Hong Kong people, where the deal looks like it is going to get done now. An interesting risk/reward, where assuming the deal doesn’t get done, it will maybe drop down to around $18-$19, but if it gets done at $24, it gives you a 20% upside. He wouldn’t assume that the deal is a sure thing, given what has happened in the past.


Price: $20.100
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 SELL Airboss of America
BOS-T
Ryan Modesto

This does rubber compounding solutions, like repairing treads, conveyor belts, etc. They bought a defence products company recently. None of those businesses are really working out too well. This is more of a macro growth issue. He likes it from a value perspective, but now with the recent weak quarter and the management outlook, it hard to find much to like about the company. It could be used as a tax-loss sale, and look at returning in 6 months’ time when management outlook starts improving.


Price: $10.400
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 HOLD Brick Brewing Company Ltd.
BRB-T
Ryan Modesto

A good example of an expensive company, but expensive because they serve a stable industry. He considers the alcohol industry as almost recession proof. They’ve grown their dividend over time. It has a premium valuation, because at any point in time, one of the bigger alcohol companies could just gobble them up. He likes the company.


Price: $3.100
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 HOLD Costco Wholesale
COST-Q
Jon Vialoux

You want to be selling retail at the Thanksgiving holiday. There can be a bit of positive in December, and this one probably has a bit more life than the retail sector itself. It doesn’t have the tendency to fall off like the broader retail sector does. He would continue to Hold. Looking at the technicals, there is reason to be optimistic. You could see higher prices from here.


Price: $151.880
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 DON'T BUY Concordia Healthcare
CXR-T
Ryan Modesto

Management has just not delivered. The last 2 quarters were pretty big surprises, even to management. The US business is floundering. You can’t trust management forecasts at this point. They are in a transition phase and scrambling to sell off an asset.


Price: $3.550
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 SPECULATIVE BUY D-Box Technologies
DBO-T
Ryan Modesto

Powered seats for movie theatres. They have deals with companies like Cineplex, large market theatre chains. He likes the longer-term growth, but because it doesn’t get a whole lot of coverage, it is quite volatile. They have developed massive inroads in China, and just did a deal with a company who has to purchase so many seats. A high-risk name.


Price: $0.540
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 WAIT DHX Media
DHX.B-T
Ryan Modesto

This has been a bit of a laggard lately. They do media licensing content for children’s television shows. Has had really good success with Netflix, Amazon Prime, etc. Have also had a lot of success with YouTube. He likes this and thinks things are going to turn around in 2017. They have some contracts coming on with DreamWorks, Mattel and more, so closer to the end of 2017 they’ll have more content going out. You may need to wait a few months, but thinks the pastures are greener going forward.


Price: $6.900
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 TOP PICK Walt Disney
DIS-N
Jon Vialoux

This has had very favourable seasonality. It has actually been higher 40 of the past 50 years between October and April. The average gain is about 23.5%. A large gain and a tremendous frequency of success. The chart shows that the trend of lower highs and lower lows has finally broken. It has broken above its 200-day moving average, which is a good line of support if it can hold. Dividend yield of 1.44%. (Analysts’ price target is $107.35.)


Price: $98.820
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Yes
2016-11-25 COMMENT Facebook
FB-Q
Jon Vialoux

FANG stocks have been under pressure. It recently had a big move lower, and one day it didn’t even trade. The major moving averages are moving lower, so should you even be here? The opportunity to buy this now is just not present. However, there could still be a longer-term potential. (See Top Picks.)


Price: $120.380
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 PAST TOP PICK Great Canadian Gaming Corp
GC-T
Ryan Modesto

(A Top Pick Sept 30/16. Up 4.9%.) Just released a very solid earnings report and beat estimates by a fairly wide margin. The new casino coming online is moving fine. There is still some organic growth potential through some Ontario gaming bundles that they have an opportunity to bid on. A great story that is underfollowed.


Price: $23.770
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 TOP PICK CGI Group (A)
GIB.A-T
Jon Vialoux

One of the larger Canadian tech companies. If Donald Trump is going to make America great again, you would assume IT services would follow suit as well. Between Nov 27 and Feb 8 it has gained about 20.25%. A very positive backdrop. The trend is higher highs and higher lows, and has not shown any signs of fading. If you can buy it closer to support, now is a favourable time to get in. We have seen a bit of a neutral performance. It has not outperformed the market, but it has outperformed the technology sector. (Analysts’ price target is $71.11.)


Price: $64.550
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: No
2016-11-25 DON'T BUY Alphabet Inc. (A)
GOOGL-Q
Jon Vialoux

The FANG stocks have not participated since the Trump rally took off. You are seeing pressure against a declining 20 day moving average. They are not participating in the infrastructure build, industrial revolution, financial rallies. You want to be in other places at this point. We do have a 200-day moving average coming into play at about $760. If it can hold that, it might be something to shoot against, but until we can break the trend of lower highs and lower lows, this could be heading lower. (See Top Picks.)


Price: $780.230
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 COMMENT Knight Therapeutics
GUD-T
Ryan Modesto

The past owner of Paladin Labs. About half the market cap is in cash right now, about $655 million. They are currently financing interesting pharmaceutical companies through high interest debt or buying equity in them. Generating pretty good return on most of these investments. You have to make a bit of a leap of faith in trusting management to take their cash and invest it and make good returns. He thinks they can. There are rumours they are considering buying the Paladin assets back, probably at a discount. He likes this. You have to be patient and give management time to execute.


Price: $10.370
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 COMMENT JP Morgan Chase & Co
JPM-N
Jon Vialoux

Theoretically, this is just getting started, but you have to watch out for the mean reversion. It has had a phenomenal run to the upside since the Trump Bump, and has been stretched significantly by the 20 and 50 day moving averages. The 20 day is at about $74 and the 50 day is at about $70. If you get a retracement back to those levels, those have the more positive risk/rewards. Seasonally, financials such as this, tend to do well from about November all the way through to April. Technically this bounced higher from its 50-day moving average. There is support between about $70 and $71.


Price: $78.830
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 COMMENT KP Tissue Inc
KPT-T
Ryan Modesto

Tissue products. A slow and steady type of name. Pays about a 5% dividend yield. This is probably just going to grow with GDP over the long-term, kind of a steady Eddie. OK, but not his favourite.


Price: $14.510
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 HOLD New Flyer Industries Inc.
NFI-T
Ryan Modesto

A great company to own. It has created a lot of value for long-term shareholders. Shareholders probably got a little scared over the last 3 months or so. They had a few hiccups where Marco Polo, one of their big insider holders, sold some shares. He doesn’t see this as much of an issue, because probably their position was as big or bigger after the sale then when they initially invested. They had a New Jersey contract that was put on pause, which is more due to New Jersey budget issues then New Flyer issues. That is now back in action and they are delivering buses to New Jersey. There has been a bit of weakness in their aftermarket parts business, but management has been saying that this is weak because new order bid activity has been so strong.


Price: $42.240
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 HOLD Premium Brands Holdings Corp
PBH-T
Ryan Modesto

This has always traded at a higher valuation, so he wouldn’t be afraid of it. When it is looking expensive, they have the ability to go out and pick up some company that they can roll in and generate some synergies, and help drive value for the company. Expanding some of their distributions with the purchase of Belmont Meats. They grow their dividend over the long-term. Management has executed very well with a knack for integrating their acquisitions.


Price: $68.870
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 DON'T BUY Prometic Life Sciences Inc.
PLI-T
Jon Vialoux

The healthcare/biotechnology space has been crushed. A lot of the headwinds have abated since the election results. However, a lot of these names are still under pressure. This one had a support break at about $2.60. This is resisting on its 200-day moving average, and has fallen below its other moving averages. Momentum indicators are still grinding lower. You want to avoid these at this time of year.


Price: $2.370
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 COMMENT Potash Corp of Saskatchewan
POT-T
Jon Vialoux

There has been a tremendous base occur over the last few months. The chart shows this is bumping up against its resistance right now, at about $24.50. It is slowly grinding higher and breaking the overhead hurdles. Following the prolonged period of range trading action, this could break higher. Upside potential is about $4-$5 from its $25 point. The period of seasonal strength for fertilizer stocks, particularly potash, is positive through December all the way through to about February. You could play the broad basket of fertilizer stocks through the ETF SOIL-T.


Price: $23.810
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 PAST TOP PICK Purpose High Interest Savings
PSA-T (No Listi
Jon Vialoux

(A Top Pick Aug 10/16. Up 0.31%.) During the period of volatility for equity markets, which really peaks between August and October, you want to be defensive. He saw this turn around in July where it indicated bond prices were coming off, so he rotated into this, which is simply a high interest savings account.


Price: $0.000
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: No
2016-11-25 HOLD Pure Technologies Ltd
PUR-T
Ryan Modesto

Pipeline monitoring. There are 2 investment themes, water and infrastructure. Their technology can go into waste water and drinking water pipelines, and look for cracks and stability issues. On infrastructure, a lot of pipelines are getting old, and instead of just digging out a whole street of pipeline, they can find the weakest area, and just dig at that point. It has always had a high valuation, but has pulled back lately. He likes it, but it is one of those names you have to be patient with. You have to think of it in terms of years, not quarters. Their growth is on their oil/gas pipelines, which is growing quite well. Expect lumpy revenues from time to time as they are dealing with governments. If you can hold for 3 years, he thinks it is a good name.


Price: $4.890
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 BUY Savaria Corp
SIS-T
Ryan Modesto

This does elevator lifts and chairlifts for elderly and disabled. He likes the demographic wave they are facing. The company has executed very well. They just released their 2017 outlook, which was about $10 million lower than their previous outlook. Not a game changer for the company, but is probably the 1st execution flaw that they’ve had, so it has pulled back a little. Thinks they are itching to do an acquisition. A good entry point.


Price: $11.320
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 PAST TOP PICK Stella-Jones Inc.
SJ-T
Ryan Modesto

(A Top Pick Sept 30/16. Down .3%.) This is one that you have to think in a 3-5 year timeframe. Rail ties and utility poles have been a bit weak. It is kind of cyclical. They are growing their retail lumber business right now, which has higher growth potential, and he thinks this is getting overlooked in the valuations. Growth potential has never been better than it is today, and yet the valuation is trading below historical multiples.


Price: $45.400
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 TOP PICK Sun Life Financial Inc
SLF-T
Ryan Modesto

This is a pick more for the exposure than the company itself. Fundamentally he thinks it is going to do very well. They are beating analysts’ estimates. Increased their dividend recently. They are also growing their US asset management business. They have exposure to growing US interest rates. As long as the fundamentals are working out, the interest rate story should also help support the shares. Dividend yield of 3.14%. (Analysts’ price target is $52.05.)


Price: $53.490
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 DON'T BUY Simon Property Group Inc.
SPG-N
Jon Vialoux

REITs tend to do well in the spring and summer. Once we get into September, we enter into a period of seasonal weakness. That takes a lot of the REITs lower until about the Nov/Dec timeframe. The chart for this year shows it going up to the beginning of August and then dropping with lower lows and lower highs. Momentum indicators are heading lower and it is underperforming the market.


Price: $181.300
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 TOP PICK Stantec Inc
STN-T
Ryan Modesto

Infrastructure company. This is going with the Trump theme. They have 60% of revenues coming out of the US. An interesting name if you want exposure to the Canadian infrastructure budget, and the potential US infrastructure budget. Trading a bit lower than its peers, so a cheaper name that might pull back less if the infrastructure story doesn’t play out. They’ve also done an acquisition of a water infrastructure company. Dividend yield of 1.25%. (Analysts’ price target is $36.38.)


Price: $35.850
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 BUY on WEAKNESS Teck Resources Ltd. (B)
TCK.B-T
Jon Vialoux

Materials tend to do well from about November all the way through to April, and we are in a period of strength. This has a varied history, especially given the volatility of the past 2 years, but December itself can be very positive for them. There have been gains 75% of the time. It has had a phenomenal run over the past year, and is stretched, along with everything else. You want to buy this on a retracement level back to support. The 20-day moving average is at $30.90, and has acted effectively as support throughout this run. Then the 50-day comes in at $27.36, which would be the lower limit of that range. You are risking a lot of money at this point.


Price: $34.840
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 TOP PICK Tio Networks Corp
TNC-X
Ryan Modesto

Essentially processes utility bills, taking a processing fee off the bill. They partner with big utility companies such as Cricket Wireless. His big concern initially was customer concentration, but they have now done an acquisition that has been fully integrated with the company. They’ve really managed what he saw as a key risk, so they now have the potential where they can cross sell between the company they newly acquired. (Analysts’ price target is $3.09.)


Price: $2.600
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 PAST TOP PICK Spin Master Corp
TOY-T
Ryan Modesto

(A Top Pick Sept 30/16. Up 22.77%.) This is a testament to the company’s and management’s ability to make hit toys. They have been doing it for years.


Price: $38.700
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2016-11-25 BUY on WEAKNESS Spin Master Corp
TOY-T
Jon Vialoux

This seems to have all the hot toys for the Christmas season. The chart looks more like a parabolic run rather than a straight line higher. He is always concerned about parabolic runs, because you never know when it is going to revert back to its major moving averages. The fundamentals look great, but it has had a phenomenal run, making it very difficult to invest in. If you own, place a Stop at the 20-day moving average of $35, or perhaps the 50 day.


Price: $38.700
Subject: TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias: BULLISH
Owned: Unknown
2016-11-25 COMMENT Ten Peaks Coffee Co
TPK-T
Ryan Modesto

A coffee bean decaffeinater. The recent quarter wasn’t that strong. They saw regional market volumes dropping, about 20% this quarter, which have dropped in past quarters as well. Their national accounts, such as McDonald’s and Tim Hortons volumes, are actually increasing. Coffee prices are rising currently, so a lot of buyers are deferring coffee purchases. In theory, it should all work itself through. He thinks the real focus is out to 2018. They are building a new processing plant to help improve capacity. You have 6 months before a whole lot is going to happen. It may be a good tax-loss selling candidate, and then returning to it in 6 months.


Price: $5.570
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
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