As stated in yesterday’s Blog, assuming the market performs well this week, certain stocks look ripe for purchase but with a certain amount of caution. This owing to US corporate earnings beginning this week along with traditional summer stock weakness. As of this morning, it appears that the markets have opened on substantial weakness, particularly in the resource sectors.
This will provide for some good potential purchase on weakness opportunities. Using caution, I recommend looking at (and purchasing small amounts of) the large Canadian oil and gas producers, including:
- Canadian Natural Resources (CNQ)
- Encana (ECA)
- Nexen (NXY)
- Petro Canada (PCA)
- Suncor (SU)
- Talisman (TLM)
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