Previous Week’s (Jan. 10th) Recommendations Included: Strong Buys on Weakness for Agrium (AGU) and Potash (POT). Agrium hit a 52 week high @ $73.40 before dropping to $63.91 (down 9.6% for the week). Potash hit $130.40 before closing @ $118.00 (down 8.06% for the week. Both are worth a close watch to take a partial position.
Strong Buys on Weakness for Teck (TCK.B), Encana (ECA) & Talisman (TLM). All 3 stocks hit 52 week highs this past week. Teck closed down 99 cents @ $40.80, Encana down 77 cents to $35.21 and Talisman down $1.54 (7.48%) to close @ $19.04. All three again are worth taking a partial position.
Strong Seasonal Buys included CNQ (down $2.98 to close @ $71.99), MFC & SLF. CNQ looks worth taking an immediate partial position.
A New Stock Recommended last Week was Labrador Iron Ore Units (LIF.UN) which moved up $3.32 and hit a 52 week high of $50.00 to close at $49.92.
Recommendations for the Week Ahead Include: In addition to the above, watch Nexen (NXY) & Suncor (SU) both of which came down a lot. The precious metal sector also looks inviting including Agnico Eagle (AEM) @ $58.50 along with Barrick (ABX), Goldcorp (G), and Kinross (K). CNR dropped 6.03% for the week which is a lot for this less volatile stock. Lastly the Banks are worth accumulating including CIBC (CM), National (NA), Royal (RY) and TD. Stocks could drop further but many are well priced for building positions. Keep an eye out for strong dips which could be good buying opportunities. Good luck ! Warren.
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