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

Recent Opinions

Date Signal Company Expert Opinion Price
2014-07-29 N/A A Comment -- General Comments From an Expert
A Commentary
Peter Hodson

Markets. There are always smart people on both sides of every trade. Going back through the past 40 years, every time there has been a market top he can give you smart people that are saying keep buying, and smart people saying that it is going to be over tomorrow. You cannot predict these things. His customers are very worried about a correction, but he sees good earnings, good valuations and low interest rates, so it is not a problem in terms of what he sees going forward. Long-term trend looks pretty good right now. We are in the middle of a long-term shift, away from bonds and into stocks. In 2009, we were in a truly different type of economy. 2009, 2010 and 2011 was a recovery. Now we are into the regular type of economic recovery. Better job growth, better earnings and companies are spending again. Interest rates are going to go up one of these days, but they are going to go up because the economy is strong, not because they have to go back up to 10%.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: _N/A
2014-07-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ross Healy

Markets. He is not seeing any of the preconditions of a real market top. Even the 1987 plunge had at least 2 or 3 months of warning that something brutal was in the offing. He does not see it now. Unless something brand-new happens, then he thinks this bull market is going to head higher and head higher for some period of time. There are some stocks that are overdone such as the social media stocks, but that is much different than saying that there is a vast area that is set to collapse. Nothing like that on the horizon. Going forward, there will be some rotation, but that is standard in an ongoing bull market. There hasn’t been any rise in interest rates yet, and that is standard in a bull market. As the economic cycle wears on, a couple of areas in the market that are cheap, are materials, which had their big run at the beginning of the cycle and then let go, and have done nothing for the past 2-3 years. Also, interest-rate sensitive stocks like insurance companies are not too bad. Banks, by and large, have yet to see anything like a historically extended top.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2014-07-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ross Healy

Gold. Thinks gold is going higher. Governments of Japan, US and much of Europe are intent on trashing the value of their currencies. Longer-term they are not enhancing the underlying fundamentals of their currencies. In a long-term sense, that tends to be very positive for gold. Because of this, he thinks gold is a good buy. In juniors, if you pick them well, you get the best leverage, but there are many of the intermediates and seniors which make perfect sense. You just have to be patient.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2014-07-29 N/A A Comment -- General Comments From an Expert
A Commentary
Ross Healy

Canadian Banks. First of all, Canadian banks are not a homogeneous mass. There are 6 of them and their valuations are all spread out. The one close to its historic peak is the Royal Bank (RY-T) and has been the leader all the way along, so he would still give that stock some decent upside potential of 10%-12%, but would be at a level where he would begin to look for another place to go. The potential of all of the banks is very, very strong, their balance sheets are superb, and bull markets never end until the banks top out, and our banks are not ready to top out. (See Top Picks.)


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2014-07-29 BUY Avigilon Corp
AVO-T
Peter Hodson

High definition surveillance cameras. Captured a lot of market share, and the company was growing very, very fast. Over 50% growth for the past 8 years prior to them going public. They went public and the stock went crazy. Everybody loved it, and then their CFO quit on the day of earnings. Everybody panicked. Stock is very volatile, and this is a high-growth company in a high-growth industry. Sales growth is 50%-70%, profit margins are increasing and the company is sitting on about $100 million in cash. He likes it.


Price: $24.700
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 TOP PICK Amaya Gaming Group Inc.
AYA-T
Peter Hodson

Got regulatory approval for their rational gaming acquisitions, which will make them the biggest public online gaming company globally. It is going to trans-straddle the consumer and technology sectors. A great, great growth company. Have done nothing but execute perfectly well in terms of deals and acquisitions. Management owns 26% of the company.


Price: $29.610
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT Bank of America
BAC-N
Ross Healy

Trading below Book Value. Currently trading right on the cusp of being in a condition of being rejected by the market, and being accepted by the market. If it can break through about $17-$18, the stock has a terrific run ahead of it.


Price: $15.340
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 BUY Badger Daylighting
BAD-T
Peter Hodson

A fabulous company that is growing very quickly and capturing a lot of the utility market. Stock had a huge run and they split it 3 for 1. Now it is in kind of a pause mode. People are worried about them sustaining the growth. This is a great company in an industry that is growing, and they are the market leader in that industry. At this price it is a pretty good bargain. Won't triple like it did in the past couple of years, but for a solid growing company it looks very good. Well-managed.


Price: $32.850
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Badger Daylighting
BAD-T
Ross Healy

Had a spectacular run from 2009. Unfortunately it looks like that is pretty much everything the company is going to give you. His Fair Market Value calculation is $28, 15% lower than its current price. He would be looking at $18-$19 before entering.


Price: $32.850
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 HOLD BCE Inc.
BCE-T
Ross Healy

Well up there, but the stock has a terrific yield in a yield starved world. Trading at over 2.5X its Book Value and 3.5X is all that he would ever expect from it. His Fair Market Value would give him about another 20% upside. A good stock to hold.


Price: $49.650
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 PAST TOP PICK Boyd Group Income Fund
BYD.UN-T
Peter Hodson

(A Top Pick in June 21/13. Up 95.29%.) Most of their business is in the US, but have just started moving into Ontario with a couple of acquisitions. Have done a great job with collision and glass centres in the US. Still likes this.


Price: $44.000
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 WEAK BUY Celestica Inc
CLS-T
Peter Hodson

Have done a pretty good job of turning things around. They were in dire straits in the recession when they had overcapacity and their balance sheet wasn’t that great. Have bought back a ton of stock, and are now basically waiting for the economic situation to come to them. This is a later cycle economy stock. When business is so good in the tech world and people need third-party manufacturing that is when they really start to coin. Because they bought back a lot of stock, their earnings leverage will be really good at that point in the cycle. Still a little early for this kind of scenario, but for a 2 or 3 year time frame, you should be okay. Not a bad company.


Price: $11.760
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT Canadian National R.R.
CNR-T
Ross Healy

Stocks like this and Canadian Pacific (CP-T) and Tim Horton’s (THI-T) have done very well, reaching very, very high valuations in Price to Book terms. What they all have in common is that they have all decided that they want to buy back stocks. Realize that when you’ve got a stock that is trading at 5X its BV, which means that for every $1 of equity that you are taking out of the treasury to buy stock, you are buying $0.20 worth of equity to cancel. This means your ROE on investment is worth -80%. You are actually subtracting value, and the BV is going down. This means that when you have a market correction, the downside risks are increasing in those stocks. What they should do is issue stocks, raise the BV and use the money to expand their existing business. If you have no use for the money, then at least give the existing shareholders a dividend. In the short term, these things are working out quite well. If you own, the stock could run further, but be ready to Sell.


Price: $73.370
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 BUY Crescent Point Energy Corp
CPG-T
Ross Healy

He sees energy stocks as being reasonable value here. This one has done well. There is now a setback in the group, but he thinks this is a setback on its way to higher levels. He can see 30%-40% ahead from here.


Price: $44.750
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 BUY Crew Energy Inc.
CR-T
Peter Hodson

Likes management. In terms of natural gas exposure, he would put this as number 4 or 5 in terms of companies to own for natural gas exposure. Has done a great job. Good assets, good management, good geological prospects and a good team. A good one for this sector.


Price: $10.010
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 TOP PICK Cisco
CSCO-Q
Ross Healy

Topped out in 2000 at about 18X its Book Value and then has spent 10 years in the wilderness. Gradually all that equipment that was installed back then is getting technologically old and is needing to be replaced. In the meantime we have Cloud computing coming on strong, and this company is superb in the hardware area there. Yield of 2.96%.


Price: $25.710
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 TOP PICK Contrans Group Inc
CSS-T
Peter Hodson

TransForce (TFI-T) has an offer in to buy this and it is board approved. Transforce stock went up 10%. It’s $0.30 accretive to earnings, which at a 15X multiple is worth almost $5 to Transforce stock. Everybody loves this deal, which by default means it is a bad deal for Contrans. This stock, at $15 with a 15X multiple on next year’s earnings, is an $18 stock without a takeover. This is at the economic stage where earnings will start to ramp up. Yield of 3.97%.


Price: $15.200
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 STRONG BUY Constellation Software Inc.
CSU-T
Peter Hodson

This has been a great stock performer. Even though revenue has gone from about $200 million to billions, the number of shares outstanding has been unchanged for 10 years. When you can grow without diluting your shareholders, it is brilliant. CEO owns $300-$400 million in stock. Now starting to do larger acquisitions. They have the ability to do third-party financing, where other people take the risk and they share in the profits. This is one of those great companies that you buy and 5 years later you will be happy.


Price: $257.250
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Canexus Corp
CUS-T
Peter Hodson

Had this as a C+ rating, but lowered it to a C, which is a “Don’t Buy”. Not attractive on very many matrix right now. They cut their dividend. Diluted shareholders quite substantially this past year. Had cost overruns on some of their projects. Better to wait until all the problems are fixed. Any time a company cuts its dividend, the remaining dividend is always suspect.


Price: $4.780
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 TOP PICK Dream Office REIT
D.UN-T
Ross Healy

The stock has been unfairly hammered by the market and has very nice upside potential. Yield of 7.66%.


Price: $29.230
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 DON'T BUY Dividend 15 Split Corp.
DFN-T
Peter Hodson

(Market Call Minute.) Doesn’t see the point in paying a management fee to own 15 financial stocks. Just buy the banks yourself, save the fee and you’ll be fine.


Price: $11.990
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY DHX Media
DHX-T
Peter Hodson

A great example of a management team that have spun out and done it all before. They are now picking out libraries like Teletubbies and forming timeless content for children. This is great, because there isn’t a language issue as it is very easy to dub these into other languages. The value of their library is probably higher than what people are giving them credit for. This is a 5 year timeframe, where they will build up their library and ultimately decide to sell it to big media enterprises. Good company and very well-managed.


Price: $6.900
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY Enterprise Group
E-T
Peter Hodson

(Market Call Minute.) Same sort of scenario as Petrowest (PRW-T). Small Company in the oil/gas contracting engineering space. Stock got beat up because they missed earnings, but thinks in the long term it is fine.


Price: $0.900
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Encana Corp
ECA-T
Peter Hodson

Probably his least favourite stock in the oil/gas sector prior to the PrairieSky IPO. Did an asset spin out that created a lot of value. That stock is now running and you are back to the parent company. They cut their dividend and were having a hard time growing. It is just a low growth scenario with a low dividend. Has disappointed for 10-15 years. There is no need to own this.


Price: $23.930
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY Element Financial
EFN-T
Peter Hodson

(Market Call Minute.) Huge deals that they’ve done over the past couple of years. Fabulous management team. The cycle is perfect for them.


Price: $14.430
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY Easyhome
EH-T
Peter Hodson

One of those “under the radar” companies that is doing really, really well. Have 2 divisions. A “rent to own” in furniture, but their big growth division is Easy Financial, and this is where the stock has done so well. Easy Financial offers short-term loans to customers and the growth rate has been phenomenal. They have the locations in place and they have a captured customer base. A very natural cross sell to offer their existing customers more money in terms of loans. Solid growth, solid company and good market niche. Well-managed.


Price: $23.490
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 TOP PICK Firstservice Corp
FSV-T
Peter Hodson

A residential management company. They operate residential services, manage condos and look after things like security, concierges, etc. Just reported earnings showing a 16% revenue boost, 32% EBITDA boost. Instituted a dividend a couple of years ago. Still run by the founder who still owns lots of stock. Nobody talks about it, but just a very solid company. Yield of 0.73%.


Price: $59.430
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 PAST TOP PICK Fiera Sceptre Inc.
FSZ-T
Peter Hodson

(A Top Pick in June 21/13. Up 21.06%.) Still likes. Stock has been a little quiet recently. Did a couple of US acquisitions, and a lot of people were excited about their potential rolling into the US. It is one of those companies where slow and steady is the name of the game. Pays a nice dividend. Up to $85 billion in assets. Earnings growth is good. A solid, long-term keeper in the asset management space.


Price: $12.500
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Colabor Group Inc.
GCL-T
Peter Hodson

(Market Call Minute.) Cut their dividend. There are lots of margin pressures as costs are going up. In the restaurant service business. No need to own it.


Price: $3.850
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT General Electric
GE-N
Ross Healy

This is getting expensive from his Fair Market Value calculations. Has a target of $28-$29, which would carry it up to about 2X Book Value, which is all that the market is going to give you. This is a tired conglomerate. When that happens, the conglomerate starts breaking up and releases all kinds of phenomenal value.


Price: $25.450
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 COMMENT Hudbay Minerals Inc.
HBM-T
Peter Hodson

Hasn’t been that impressed with this company over the past few years, but they have turned things around significantly. Primarily because zinc is starting to move, this company is looking much, much better. In terms of production and leverage to zinc, he thinks it is viable now, and more so than it has been in quite some time. Thinks there is going to be a shift toward more cyclical companies, and metal companies should get the benefit of that.


Price: $11.620
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT Hudbay Minerals Inc.
HBM-T
Ross Healy

Stock has done brilliantly well and probably goes higher. Fair Market Value, as he measures it, is about $18. However, there is some pretty stiff resistance at around $15. If this bull market has legs, then he thinks this is going to do well for you.


Price: $11.620
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 COMMENT High Liner Foods
HLF-T
Peter Hodson

A fine company that has done a very good job with their acquisitions. Earnings growth is looking much better these days. The dividend is looking better. A name that is heading to new highs, but doesn’t get much attention. A solid, consumer company.


Price: $25.000
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT High Arctic Energy Services Inc
HWO-T
Peter Hodson

Doesn’t cover this, so his knowledge is not that deep. Have good dividends, good growth and a good management team. Have done some good acquisitions. The sector itself looks pretty good. Oil/gas companies, with the renewed pricing of oil, are starting to spend more. The service sector is looking good. One of those where it is a nice small company at the right time in the right sector, and gives you a dividend while you are waiting.


Price: $5.040
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 PAST TOP PICK Iamgold Corp
IMG-T
Ross Healy

(A Top Pick June 10/13. Down 22.63%.) A recovery in a stronger gold environment is quite large, so he is holding all his positions.


Price: $4.110
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 DON'T BUY Interpublic Group of Companies Inc.
IPG-N
Ross Healy

This has had a great run, but he thinks their run is pretty much over. His Fair Market Value is $21, and runs into very stiff technical resistance at $21.50. Quite expensive on a Price-To-Book basis at about 4X.


Price: $20.540
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 COMMENT Kinross Gold
K-T
Ross Healy

Very cheap and is forming a nice bottom. The bad news is that until we get better bullion pricing, the stocks really can’t take off. If we do get better bullion pricing, these stocks will take off like a rocket.


Price: $4.470
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 PAST TOP PICK K-Bro Linen Inc
KBL-T
Peter Hodson

(A Top Pick in June 21/13. Up 20.16%.) They get 10 year laundry contracts from government agencies, hospitals, prisons, etc. They build a facility, get the contract and run that through, and just take a cut of the profits along the way. Likes the long-term stability of the company. If the economy is going to roll over you want to own this company for their dividend and revenue visibility. 3.1% dividend yield.


Price: $38.630
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY Keycorp
KEY-N
Ross Healy

By and large US banks are quite cheap. There is still a holdover from 2008-2009 where there were some issues. The longer that time goes on, the longer interest rates stay low and the longer these companies get rid of and restructure their balance sheets, the better is their outlook. They all have good upside potential of 50%-70%. It is a question of when the market is going to be a little more relaxed about the stocks and freely buy and recommend them again.


Price: $13.610
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 STRONG BUY Logistec Corp
LGT.B-T
Peter Hodson

(Market Call Minute.) Terminal operator. Great company and good cash flow. Good valuation. Definitely a Buy.


Price: $36.050
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Manitoba Telecom Services
MBT-T
Ross Healy

Possibility of Bell (BCE-T) taking over this company? His gut instinct says No in that the CRTC might not allow it. Looking at this company on its own merits, his Fair Market Value calculation is about $37-$38, about a 15% upside. When he buys a stock, he likes to see a lot of potential and 15% is not very much. There is a lot of overhead technical resistance at about $33.


Price: $32.770
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 COMMENT Mitel Networks
MNW-T
Peter Hodson

He did cover Astro, which merged with this company. Hasn’t yet picked up coverage of the new company, but the combined combination company is quite attractive. Valuation is very good right now. Solid balance sheet. Have lots of European exposure, which is getting much better. Good products and good cash flow. Still very, very cheap on a comparable basis to a lot of tech companies.


Price: $11.630
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 PAST TOP PICK Merck & Company
MRK-N
Ross Healy

(A Top Pick June 10/13. Up 26.11%.) This still has some upside potential left in it. It is getting up close to his original target.


Price: $58.580
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 TOP PICK National Bank of Canada
NA-T
Ross Healy

Stock is quite cheap. Has been banging up against some pretty stiff technical resistance, but has now broken through. He is hoping that it will catch up with some of the other banks. Yield of 3.92%.


Price: $48.920
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 COMMENT Norbord Inc.
NBD-T
Ross Healy

Their 12 months earnings forecast going out was $2.15 and the dividend is $2.40, so coverage is sketchy. They need a great big increase in the earnings outlook in order to get going again. However, his Fair Market Value calculation is pretty good, even based on those rather depressing earnings. He had a target of $32 and even higher. There is a good possibility, if those earnings get some momentum behind them, you’ll get back up to the $32-$33 area, about 4X Book. This is typically where this company has peaked in the past.


Price: $23.910
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 COMMENT Paramount Resources
POU-T
Peter Hodson

Tourmaline (TOU-T) or Paramount (POU-T)? This is a case where you have to choose the better of 2 good companies. They are both pretty good, but he would put Tourmaline, far and away, as probably the best managed company in the oil/gas sector.


Price: $55.930
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 COMMENT Petrowest Corp
PRW-T
Peter Hodson

This and a couple of other smaller companies are oil/gas engineer contractors and doing lots of work in the oil/gas sector, particularly for the LNG sector. This one is well-managed and relatively small. Valuation is pretty attractive. Growth potential is very much there. It is viewed as the company with the most LNG potential. This is one of those companies that you may have to give a 5 year timeframe to, as they are long-term projects. Every once in a while these companies lose money on a fixed price contract, which you really have to watch out for. However, he thinks this is strong enough to continue, but he also thinks this sector is ripe for acquisitions.


Price: $1.330
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 PAST TOP PICK Rogers Communcations (B)
RCI.B-T
Ross Healy

(A Top Pick June 10/13. Down 2.48%.) Looked like he was getting at quite a good price on a nice setback in the market. Then the CRTC changed the rules, which took away the economics and all the momentum that he might have seen.


Price: $42.450
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 BUY Surge Energy Inc
SGY-T
Peter Hodson

Compared to Whitecap (WCP-T) and Torc (TOG-T)? These are all dividend growth stories with good management teams. All 3 are definitely in the top quartile. Likes this one quite a lot, primarily because he knows the management team. CEO has been a very aggressive buyer of his own shares. This is a company that has done some deals quickly, have raised their dividends at least twice over the past couple of quarters, production growth looks good with a rock solid management team in terms of geographic focus and asset mix.


Price: $8.260
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 BUY Suncor Energy Inc
SU-T
Ross Healy

Likes this a lot. There is a lot of upside potential. His Fair Market Value is quite high. Has been recommending the stock for some time. Probably has another 30%-40% to go before he would consider it to be expensive.


Price: $45.120
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2014-07-29 BUY Tourmaline Oil Corp
TOU-T
Peter Hodson

Tourmaline (TOU-T) or Paramount (POU-T)? This is a case where you have to choose the better of 2 good companies. They are both pretty good, but he would put this one far and away, as probably the best managed company in the oil/gas sector. Their forecasted growth is very much in the bag. Very visible over the next 3 or 4 years. They don’t pay a dividend.


Price: $51.930
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 DON'T BUY Twitter, Inc
TWTR-N
Ross Healy

The problem with this and other social media stocks is that they are being priced for earnings down the road, not for earnings today, even with a setback that this stock has had. These are trading heavily on sentiment and expectations. These are gamblers’ stocks. Very hard companies to analyze.


Price: $38.590
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2014-07-29 BUY Valero Energy Corp
VLO-N
Ross Healy

The bad news is that the stock had moved back up to technical resistance in the $58-$59 area, before setting back down to another support level. Technically it has been walking upstairs steadily. The good news is that his Fair Market Value is well up over $100. He could see this getting as high as $80 on its current fundamentals.


Price: $49.850
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 COMMENT Wi-Lan Inc.
WIN-T
Peter Hodson

Had this rated as an A-. It is now down to a B because they kept screwing up and missing earnings estimates. They also had a huge run-up in legal costs. Have signed quite a few deals. The big problem is that when they announce these deals they don’t disclose financial terms, and you have to wait for the next quarter to see if there is any significance to that deal. He likes the deals. Raised dividends 25% a few months ago, following the failed takeover. He thinks this has now transferred into just an income stock. It’s lost that exciting big deal takeover potential.


Price: $3.350
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-29 WATCH Wajax Corp
WJX-T
Ross Healy

This company had a good setback in the market. It had got up to about 4X Book, which is really, really expensive for them. They are now down to about 2X Book. It certainly has the potential to get back up to $45-$50. Watch to see if it breaks out technically.


Price: $35.040
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2014-07-29 COMMENT Yamana Gold Inc.
YRI-T
Peter Hodson

This is a management team that made a lot of mistakes in past cycles. Made some bad acquisitions. Over promised and under delivered. Nobody really liked them 5-7 years ago. They fixed that along with some of their production issues. Did better acquisitions. You now have a company that has very high leverage to the price of gold. Feels that GoldCorp (G-T) is the best senior, followed by Agnico (AEM-T) and then followed by this company. In the next gold cycle, it will do very well. You need the gold sector to move and right now it doesn’t seem to be doing a whole lot.


Price: $9.140
Subject: CANADIAN SMALL & MIDCAPS
Bias: BULLISH
Owned: No
2014-07-28 N/A A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Markets.  Earnings season has been very, very good.  Looking at the next couple of years, now analyst’s estimates are pretty optimistic.  The trend line in interest rates is still pretty much in place.  We are in a liquidity trap were economies are recovering, but it is because interest rates are incredibly low.  The markets have responded and that is the more important factor.  Equities are the best place to be, driven by earnings.  Stocks that are linked to the oil sands are starting to do better.  In the short term they should have a slight correction, however. 


Price: $0.020
Subject: TECHNICAL ANALYSIS - N.A. EQUITIES
Bias: UNKNOWN
Owned: _N/A
2014-07-28 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Financial Stocks.  The ZEB-T rallied about 5-6% past week.  Analyst forecasts for next year are the same as where the banks are now.  They might revise earnings estimates or the earnings are all built in to the bank stocks.  If you are going into banks now, then ZEB-T is the best way to play because of the covered calls.  But he sold Canadian banks last week to move into the US.  He thinks they are a little stretched here.


Price: $0.020
Subject: TECHNICAL ANALYSIS - N.A. EQUITIES
Bias: UNKNOWN
Owned: No
2014-07-28 BUY A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

All the short term bond ladders are good in his opinion.  They are not without risk, if interest rates start to go up.  They mitigate only some of the risk.


Price: $0.020
Subject: TECHNICAL ANALYSIS - N.A. EQUITIES
Bias: UNKNOWN
Owned: _N/A
2014-07-28 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Larry Berman CFA, CMT, CTA

Canadian Railways.  They have gone parabolic and for him very hard to invest in, knowing that at some point you will get a correction.  He needs to see a test of support or a test of a longer term moving average.


Price: $0.020
Subject: TECHNICAL ANALYSIS - N.A. EQUITIES
Bias: UNKNOWN
Owned: Unknown
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