Only 10 of the 19 Common Stocks Highlighted for Growth Last Week (March 14) increased in price week over week. However, all but one (Encana – ECA) were above closing price at some point. Also 8 out of these 19 Stocks hit new 52 week highs including: Bank of Montreal (BMO), Bank of Nova Scotia (BNS), CIBC (CM), Royal Bank (RY), Toronto Dominion (TD), Power Financial (PWF), Agrium (AGU) & TransCanada Corp (TRP).
Top Recommendations based upon Price Weakness include: Encana (ECA) down 8.27% this past week to close at $31.37 (I purchased some for average cost of $32.17) and Talisman (TLM) down 7.32% to close at $17.48 (I sold my position last week @ $19.34 and repurchased some yesterday @ $17.72). Other recommendations based upon general price weakness include: Agnico Eagle (AEM) $58.50, Cenovus (CVE) $25.36 & Suncor (SU) $31.28.
Ongoing Recommendations include: Agrium (AGU) $71.72, Canadian Natural Resources (CNQ) $73.23 & National Bank (NA) $63.12.
Income Recommendations include: BCE $30.37 paying 5.73% dividend, Manitoba Tel (MBT) $31.60 paying 8.23% & Cineplex Galaxy Income (CGX.UN) $19.44 paying 6.48%. Keep an eye on the major banks and for any pullbacks. Others on watch list include Potash (POT), Teck (TCK.B) & Sunlife (SLF).
My trades this past week include: Sold RY @ $59.36 (cost $57.71). Sold CNQ @ $74.68 (cost $73.32) & repurchased @ $73.32. Good hunting, Warren.
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