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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
2016-05-27 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Economy. Coming into this year we had the fear of weak demand, similar to January 2015 when everybody was freaking out about a weak China and a weak global economy. Fast-forward to the end of 2015 which showed the strongest growth in 5 years. The same pattern is coming to pass this year, where once again China’s weak global economy is perceived to be weak, and yet demand is growing by about 1.4 million barrels per day. The issue was oversupply which is now almost approaching zero, courtesy of very strong demand and supply falling off the cliff, not just in the US. US production is now down to about 800,000 barrels a day from the peak. That trend will continue until we get a high enough oil price to allow for an increase in activity in the US. The rig count now is at about half of where it needs to be able to maintain flat production, let alone to grow production. For 2017, 2018 and 2019, unless we incentivize an increase in activity in the US, he thinks we will be short of oil and we will get a price hike. He thinks we are going to see $60-$65 in the next 6-12 months. January and February was the worst period in the history of the oil and gas business. We have come through that period and the worst is over.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: _N/A
2016-05-27 N/A A Comment -- General Comments From an Expert
A Commentary
David Cockfield

Markets. We’ve had a pretty good run and are at a bit of a resistance point. Feels we are going to work our way through that, but it may take a while. Energy stocks have been a big driver, and we will have to wait to see if $50 a barrel is attainable and can hold for a while. There is a lot of speculation out there, and it could be speculation rather than demand. This may take a few weeks. He is a great believer that the US housing market has a lot of ground to make up. The fact that it costs more to rent than it does to buy a house will put pressure on. Housing start numbers swing back and forth, but the existing number on sales is quite good. This is a huge area which includes refrigerators, air conditioners, carpets, furniture, etc.


Price: $0.020
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: _N/A
2016-05-27 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
David Cockfield

Natural gas? This is a sector where technology has made it a lot cheaper to produce. In North America we have a surplus of gas. There are still some major areas in the US that are still developing. A terrible area to be in. He eliminated all of his gas stocks.


Price: $0.020
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: No
2016-05-27 COMMENT Altagas Ltd
ALA-T
David Cockfield

Likes the stock because it has excellent management, pays a good dividend, and is a way to have a piece of the energy side without taking too much risk. They have now got into a potential export of propane. 6.5% dividend yield.


Price: $30.360
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: No
2016-05-27 COMMENT Bombardier Inc (B)
BBD.B-T
David Cockfield

Has a few shares, but by clients’ direction. Considers this as a high risk situation. It is very tempting, because they are making progress. He wants to see planes actually taking off, which could convince the industry as a whole that it is a good plane. However, that may be 6-12 months down the road. The basic balance sheet situation is still troubling.


Price: $2.000
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 PARTIAL BUY BCE Inc.
BCE-T
David Cockfield

This has had a really good run. He would tend to sit on the sidelines and see how the market does in the next few weeks. Alternatively, you could buy half of what you want. This is a core position for him. The dividend is great and they keep increasing it.


Price: $60.480
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 COMMENT Birchcliff Energy Ltd.
BIR-T
Eric Nuttall

The vast majority of production is dry natural gas, and has rallied along with the whole group. As people get more optimistic on oil prices, he can feel an undercurrent of euphoria on natural gas. This is on his radar screen. Thinks gas is going to get pretty damn ugly in the next couple of months. He would like a better entry point. This is probably the best way to play the natural gas leverage.


Price: $5.620
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 COMMENT Bonavista Energy Corp
BNP-T
Eric Nuttall

His only hang-up is that they have $1.2 billion in debt and just raised $100 million. They still have $1.1 billion of debt, and relating that to the amount of cash flow they’ve been generating, it is still about 3.5X, which is too high. He would rather buy names that have way less debt, which means that as oil prices recover they will be generating more free cash flow than they can deploy into the field, and can compress their multiples.


Price: $3.350
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 PAST TOP PICK Brookfield Property Partners
BPY.UN-T
David Cockfield

(A Top Pick May 22/15. Up 16.88%.) Has been more volatile than what he really likes. This is a multinational and is all over the world. It’s big commercial projects and even some residential stuff. It’s in Australia, New York, Brazil and in Canada. Pays a reasonable dividend, and the Brookfield people are very smart managers. Dividend yield of 4.65%.


Price: $31.310
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 PARTIAL SELL Baytex Energy Corp
BTE-T
Eric Nuttall

Given that they don’t have to pay a dividend any more, free cash flow would come down to maintenance capital to maintain flat production levels. His guess is that it would be in the mid-$40, because their heavy oil required a price of around $33-$34 for about half the production, and the remaining half is liquids rich gas plus light oil. If you own, consider trimming.


Price: $6.200
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 COMMENT Baytex Energy Corp
BTE-T
Eric Nuttall

(Market Call Minute.) This had a huge move, and has reached his fundamental target.


Price: $6.200
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 TOP PICK Baytex Energy Corp
BTE-T
David Cockfield

One of the better energy companies. It is heavy oil, but is pumpable heavy oil, and the Canadian Western select price has done quite well. They also have a significant holding in the Eagleford Texas shales, which could be back in the limelight at $50+. A well-managed company. Still a risky situation.


Price: $6.200
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 WAIT iShares Gold Bullion ETF
CGL-T
David Cockfield

iShares Gold Bullion (CGL-T) or iShares Comex Gold (IGT-T)? This one probably meets your needs, however thinks it is too early for gold. Gold had quite a little rally. If the Fed raises rates and the US$ strengthens, which it will, gold will take a hit. Gold has really worked in the past because of inflation, and we really don’t have that yet. Central banks globally are working on getting inflation going, and it is probably going to start in the US first. Before then, it is pure speculation.


Price: $10.690
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Unknown
2016-05-27 TOP PICK Cardinal Energy Ltd
CJ-T
Eric Nuttall

This has been lagging the group even though it has a great balance sheet. This company was a rock star in the oil bull days because of management, low decline rate, clean balance sheet and 80% of their production is medium gravity oil. He is looking for 50% upside from today’s share price. Dividend yield of 4.35%.


Price: $9.780
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 HOLD Canadian Imperial Bank of Commerce
CM-T
David Cockfield

This has not been his favourite bank. Canadian banks have gone through a difficult market period, simply because there has been significant Shorting of them in New York. However, those Shorts haven’t got a clue about how the Canadian banking system works. This is a good long term hold. The dividend is okay and he thinks you will see increased dividends. (See Top Picks.)


Price: $102.190
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 COMMENT Canadian Natural Rsrcs
CNQ-T
David Cockfield

An excellent company, but feels that the big seniors are probably a little ahead of themselves in terms of pricing. He thinks they are anticipating $60+ oil, and he is not sure that is going to happen. If you buy it now, you have to be prepared for some pullback and some base building.


Price: $38.900
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Unknown
2016-05-27 BUY on WEAKNESS Crescent Point Energy Corp
CPG-T
Eric Nuttall

Loves the stock at $12-$19, but at $22 it is fairly valued. Management team has been great. Trading at 8X on $60 oil, and he struggles figuring out how he gets rich at this level. With the meteoric rise in the shares, it is possible that over the summer there would be a 5%-10% correction.


Price: $22.300
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 SELL Cequence Energy Ltd.
CQE-T
Eric Nuttall

They ran a strategic review, which resulted in no buyers, and the CEO decided to leave the company. If you own, he would just sell the stock.


Price: $0.235
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 SHORT Cenovus Energy
CVE-T
Eric Nuttall

(Market Call Minute.) He would sell this and short it. The stock is overvalued.


Price: $20.170
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 TOP PICK DHX Media
DHX.B-T
Eric Nuttall

This is a business with very high quality and very valuable content. Kids programming lasts way longer than your average typical TV show. They have been very successful in acquiring good brands, and then using those brands in merchandising deals. The Teletubbies used to be a $1 billion a year franchise, and the market cap today is about $700 million. They got renewal in the UK for the 2nd season and it has been launched in the US. If successful, it could do incredibly well. Dividend yield of 0.97%.


Price: $6.580
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 COMMENT Diversified Royalty Corp.
DIV-T
Eric Nuttall

(Market Call Minute.) This sold off after a weak Q1 due to weak restaurant sales in Western Alberta. Believes their dividend is more sustainable than the street believes. Has been nibbling on this in its weakness. Just under 10% dividend yield, which he feels is sustainable.


Price: $2.230
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 COMMENT Enbridge
ENB-T
David Cockfield

This is a utility. A big company with major pipelines that are going to be full for years and years to come. The real problems occur in areas where you want to expand. Thinks the Northern Gateway is never going to fly, which was one of their favourite projects. Dividend yield of 4%.


Price: $52.780
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 BUY on WEAKNESS Fortis Inc.
FTS-T
David Cockfield

This is too expensive, but it is one of those well-run companies. It’s a utility. Management has shown itself to be quite capable in difficult times. Probably at the top of its range right now. If it sold off by $2-$3, that would be in a buy range. A very safe stock. Dividend yield of 3.7%.


Price: $40.960
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 PAST TOP PICK Grenville Strategic Royalty
GRC-X
Eric Nuttall

(A Top Pick June 8/15. Down 54.43%.) This company finds small businesses that require capital, and buy royalties streams from them in exchange for cash. They are still earning very good rates of return. However, occasionally they have to take a write down. He is still buying.


Price: $0.440
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 DON'T BUY goeasy
GSY-T
Eric Nuttall

Because of concerns with the Western Alberta economy, and even the Canadian economy, there are signs of weakness. The stock has always appeared cheap to him, but he never sees it reclaiming a higher multiple because there will always be the concerns that it is a highly cyclical business. Unless the economy is rip-roaring, it is not the type of stock you want to own.


Price: $18.770
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 COMMENT iShares COMEX Gold ETF
IGT-T
David Cockfield

iShares Gold Bullion (CGL-T) or iShares Comex Gold (IGT-T)? CGL probably meets your needs, however he thinks it is too early for gold.


Price: $15.160
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Unknown
2016-05-27 COMMENT Intertain Group
IT-T
Eric Nuttall

Has been tainted with the Amaya (AYA-T) brush. Had a Short attack which drove the stock down to $8. Should they be successful in finding someone to take them out, a price range of $17-$20 is probably not a stretch. A moderate growth business, but the free cash flow they generate is massive and should be commanding a much larger premium than what it is getting. Expects there will be a full take out of the company.


Price: $12.740
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 BUY on WEAKNESS Kelt Exploration
KEL-T
Eric Nuttall

(Market Call Minute.) Basically a land bank now, so he thinks it goes quiet for the next couple of quarters, and then the management team is going to come out and tell you what they have been buying. A Buy in the high $3s.


Price: $4.680
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 WAIT Long Run Exploration
LRE-T
Eric Nuttall

(Market Call Minute.) Being taken over at not much higher than the current share price. Feels the deal risk is very low and would wait for the deal to finish.


Price: $0.460
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 SELL Lightstream Resources
LTS-T
Eric Nuttall

(Market Call Minute.) This is a terminal company with zero equity value and you should blow this out and move on.


Price: $0.175
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 DON'T BUY Manulife Financial
MFC-T
David Cockfield

He has not been a fan of this company. Its numbers keep coming out of nowhere, and you get blindsided. A very unpredictable situation. Also, doesn’t like that they are so dependent on far eastern growth. Feels that any significant investment in China is high risk.


Price: $19.510
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: No
2016-05-27 COMMENT Northern Blizzard Resources INC
NBZ-T
Eric Nuttall

(Market Call Minute.) Has been a huge laggard. He is tempted to buy this because it is unjustifiably cheap if you are optimistic on a $60-$65 oil price.


Price: $4.570
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 TOP PICK NYX Gaming Group Ltd
NYX-X
Eric Nuttall

Just finished a $500 million acquisition of the largest sports-book gambling software company, Open Bet. This transforms the company, and gets them into a way better league with which they can compete against other casino gambling software companies. The stock has been hammered in the past due to scandals at Amaya (AYA-T). Other than Amaya being a customer, they have no relationship. This is a business with 30% organic growth, plus the upside from the new business they have acquired. This industry is growing at 10% per annum and generating gobs of free cash flow. Trading roughly at 7.2-7.4 times next year’s EBITDA compared to others trading at 12-14 times. On his calculations, he is getting a $4.40 share price, but thinks it can do better than that.


Price: $2.680
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 SELL Pengrowth Energy
PGF-T
Eric Nuttall

(Market Call Minute.) You have to believe in $100 oil to get to the $10 level. This would be a Sell despite his fondness for management.


Price: $2.280
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 SELL PrairieSky Royalty
PSK-T
Eric Nuttall

(Market Call Minute.) He really likes the CEO, but the valuation is beyond nosebleed level.


Price: $25.290
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 PAST TOP PICK Power Financial Corp
PWF-T
David Cockfield

(A Top Pick May 22/15. Down 9.19%.) He still owns some, but has lightened up. He is not worried about the insurance. Great West (GWO-T) is all right, it’s the mutual fund side. Believes ETF’s are going to be completely destructive of the mutual fund industry, because they are so much cheaper, and selection is so much better.


Price: $31.930
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 DON'T BUY Parex Resources Inc.
PXT-T
Eric Nuttall

A great company, but the stock has had a very, very great run. Looking at the valuation, relative to what he can buy in Canada, he doesn’t understand this one.


Price: $13.400
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 DON'T BUY Shaw Communication (B)
SJR.B-T
David Cockfield

Has not been enamored with this company. Family connections seem to be too strong. They are operating in a relatively limited market. If you are going to go into this sector, go into something like BCE (BCE-T).


Price: $24.960
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Unknown
2016-05-27 COMMENT Spartan Energy Corp
SPE-T
Eric Nuttall

Loves the company but at $3.20 the stock makes no sense to him. It is already embedding huge upside from making accretive acquisitions. He doesn’t like paying up for a deal that they may or may not do. The stock is overvalued.


Price: $3.170
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 DON'T BUY Twin Butte Energy
TBE-T
Eric Nuttall

Probably a good tax loss candidate, but at $.07 maybe you just hang onto it. The downside is 100% and your upside is limited. He would suggest that bankruptcy is not far off. Not a name he would hold.


Price: $0.065
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 BUY Tricon Capital Group
TCN-T
Eric Nuttall

(Market Call Minute.) A really sharp management team and has become a core holding for him. The stock is undervalued and should be $11-$12 over time. A great way to play a recovery in the US housing market.


Price: $8.640
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Yes
2016-05-27 TOP PICK Toronto Dominion
TD-T
David Cockfield

One of the best in Canadian retail banking. Their numbers were good. He likes that they have a great presence in the US. They will continue to increase their dividends and earnings. Dividend yield of 3.81%.


Price: $57.670
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 PAST TOP PICK Trinidad Drilling Ltd
TDG-T
Eric Nuttall

(A Top Pick June 8/15. Down 46.56%.) It is really a terrible situation for service stocks. Not overly optimistic on the service space. There is still so much latent capacity, especially with the drillers.


Price: $2.300
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 COMMENT Torc Oil & Gas Ltd
TOG-T
Eric Nuttall

(Market Call Minute.) Torc Oil & Gas (TOG-T) or Whitecap Resources (WCP-T)? He likes both companies and maybe Whitecap today due to valuation.


Price: $8.110
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 COMMENT Tourmaline Oil Corp
TOU-T
Eric Nuttall

In this current environment, you need to separate the company from the stock. Has a lot of admiration for the company team. They were trading at a relative discount to some of their peers. He really likes the company, but has been bearish on gas for a very long time. He is especially bearish going through this summer because there was no heating demand this past winter. As a result, storage in North America is epically high, and Canada is even higher. It would have to get into the mid to high $20s before he got interested.


Price: $30.950
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 PAST TOP PICK Tamarack Valley Energy
TVE-T
Eric Nuttall

(A Top Pick June 8/15. Up 4.47%.) No longer owns this. It has massively outperformed how oil has done. However, unless they do some wildly accretive acquisitions, it is trading at fair value. He wouldn’t own this today.


Price: $3.950
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: No
2016-05-27 COMMENT Vermilion Energy Inc
VET-T
Eric Nuttall

Has seemed to take forever for Coribb to finally come online, and that is ramping up now. Full ramp is going to take another 3-4 months. Feels the dividend is sustainable. During the weak period of January-March, a lot of fund flow found its way into those names that were perceived to be much lower risk. This was one of them. Because of that the stock held up very well, relative to many of its peers. As a result, it never fell as much as oil fell. Because of that he finds the valuation not overly compelling. Feels the 6% dividend yield is sustainable.


Price: $43.110
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 COMMENT Valeant Pharmaceuticals
VRX-T
David Cockfield

Absolutely hated this at $300. The multiple is now a lot better. He is a little worried about the financials, they have a lot of debt. Have some good products and they are bringing in good people. If you are a real risk taker, you could have some interest in this, but it is very risky.


Price: $37.080
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: No
2016-05-27 COMMENT Whitecap Resources
WCP-T
Eric Nuttall

(Market Call Minute.) Torc Oil & Gas (TOG-T) or Whitecap Resources (WCP-T)? He likes both companies and maybe this one today due to valuation.


Price: $10.080
Subject: CANADIAN SMALL & MIDCAPS
Bias: OPTIMISTIC on OIL
Owned: Unknown
2016-05-27 PAST TOP PICK BMO Low Volatility US Equity ETF
ZLU-T
David Cockfield

(A Top Pick May 22/15. Up 17.23%.) This is a way to get into the US. It has benefited from the low Cdn$.


Price: $29.080
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-27 TOP PICK BMO Low Volatility US Equity ETF
ZLU-T
David Cockfield

Chart shows it has been going sideways, but that is at a time where the rest of the market was actually going down. Thinks it is back in a situation where we are going to see it going up. This is very much consumer oriented. They have 25% utilities, 24% consumer staples, 17% healthcare and 10% consumer discretionary.


Price: $29.080
Subject: CANADIAN & ETF's
Bias: OPTIMISTIC
Owned: Yes
2016-05-26 N/A A Comment -- General Comments From an Expert
A Commentary
Daniel Straus

Markets. Canadian stock market investors haven’t fully digested the impact of the commodity rout. There is a lot of reason for caution, but there is a lot of reason for optimism as well. For instance, in the US, the earnings ratios outside of energy are looking a little attractive. In Canada, with oil hitting $50 for the 1st time in 7 months, that is an encouraging sign.


Price: $0.020
Subject: ETF's
Bias: UNKNOWN
Owned: _N/A
2016-05-26 COMMENT A Comment -- General Comments From an Expert
A Commentary
Daniel Straus

Bull ETF’s? These are leveraged products and will give you 2X the performance of an underlying index, such as crude oil futures, but will do it for only one day, and then they reset that leverage. For the next trading day, they will again give you 2X that performance. Because of the daily resetting of the leverage, it is not like taking out margins and doubling your exposure to a stock or an index. You are resetting your leverage every day which introduces an element called past dependence to the trade. If you hold for more than one day or a month, that may be too long and not in line with your expectations. He recommends these for short term Holds only.


Price: $0.020
Subject: ETF's
Bias: UNKNOWN
Owned: Unknown
2016-05-26 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

Market. These are challenging times. There are a lot of cross currents. Portfolio convexity is a way to reduce the impact of what could be temporal things. He has always taken a different approach to risk management. Believes in risk management, which means you don’t take big losses, you may focus in on a sector, etc. He is now talking about something different. Within the sectors, how are you appropriating risk? Diversifying with bonds and stocks is not necessarily the correct approach. Depending on how they are moving and reacting the convexity can be created across asset classes. Using equities as an example, the pro-cyclicals had a nice little run since the lows in February and the Feds are going to talk again in June and July which are critical meetings. On the other side there have been the defensive plays that are really holding the bid here. The US 10 year doesn’t quite confirm what we are seeing. If this pro-cyclical move has got some legs he expects to see the 10-year north of 2%. However, the way to get around this is convexity, which spreads risks out and you tilt it based on what you think. He is a little more defensively tilted, but he does have pro-growth in there.


Price: $0.020
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: _N/A
2016-05-26 N/A A Comment -- General Comments From an Expert
A Commentary
Hap (Robert) Sneddon FCSI

China. This is something that can move the needle in the next few months. There has been a steady and quiet devaluation of the yuan. They set this every couple of days, and then give it 2% from that level. They are going to move the needle either way. The US$ and emerging markets has a huge correlation to what we are seeing. If we see any weakness in the US$, we’ll probably see some weakness in emerging markets.


Price: $0.020
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: _N/A
2016-05-26 COMMENT AGT Food & Ingredients
AGT-T
Hap (Robert) Sneddon FCSI

Well liked on the street. He doesn’t know the fundamentals or the reason for the recent drop, but it has come down to some support. Momentum was really, really oversold. There is some support where it is right now. All the indicators are at the bottom. Until this breaks down below $35 he wouldn’t be too worried about it. If it keeps this level, it is probably going to be a good buy.


Price: $36.390
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: No
2016-05-26 BUY Apache Corp
APA-N
Hap (Robert) Sneddon FCSI

The chart looks to have a really long double bottom pattern. The chart shows a nice up trend from February with some pretty big swings. You have to have some fortitude and you want to be with the best group. You have to be prepared for some volatility. He would be pretty comfortable buying this today, but you have to be ready as oil can change around.


Price: $58.030
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: Yes
2016-05-26 PAST TOP PICK Aecon Group Inc
ARE-T
Hap (Robert) Sneddon FCSI

(A Top Pick June 10/15. Up 32.85%.) He likes this and the whole space a lot. Has just added to his holdings recently. This is going to be a beneficiary of future infrastructure. (See Top Picks.)


Price: $17.420
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: Yes
2016-05-26 DON'T BUY Alimentation Couche-Tard (B)
ATD.B-T
Hap (Robert) Sneddon FCSI

The chart shows a big rolling top over the last year. Technically he has a $42 target. There are some better places to be in this sector. Feels the volatility is going to continue until the value players start picking this back up.


Price: $57.250
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: Unknown
2016-05-26 DON'T BUY Boeing
BA-N
Hap (Robert) Sneddon FCSI

This has some resistance at around $150. Momentum started to weaken around April. The sector is a reasonably good one. He sold his holdings last fall.


Price: $129.310
Subject: TECHNICAL ANALYSIS & MACRO STRATEGY
Bias: UNKNOWN
Owned: No
Showing 1 to 60 of 152,201 entries
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