Two Consecutive Negative Weeks on the TSX offers up some opportunities. Resource plays have declined with the big Banks also closing off their highs. Some Trades I made this Past Week include: Purchased CNQ @ $72.36, $72.25, $72.14 & $72.10. With previous purchases my new average cost is $72.96. It closed the week @ $71.89. I also purchased TLM @ $17.16 reducing my overall cost to $17.54. It closed the week at $16.87. I also sold BNS @ $51.84 which was purchased at $49.49. It closed the week @ $51.05.
Recommendations for the Week Ahead include:
- Energy Sector: Canadian Natural Resources (CNQ) $71.89, Encana (ECA) $30.35, Cenovus (CVE) $25.11, Talisman (TLM) $16.87.
- Mining Sector: Agnico Eagle (AEM) $57.09, Barrick (ABX) $38.42, Goldcorp (G) $38.08, Kinross (K) $17.47, Agrium (AGU) $72.23, & Potash (POT) $124.06.
- Financial Sector: Bank of Nova Scotia (BNS) $51.05, CIBM (CM) $74.93, National (NA) $61.92, Royal (RY) $59.82, Toronto Dominion (TD) $76.00, Sunlife (SLF) $32.95, & TSX Group (X) $29.56.
Longer Term Recommendations for Income include: BCE $30.16, Manitoba Tel (MBT) $31.50, Cineplex Galaxy Units (CGX.UN) $19.44, Crescent Point Energy (CPG) $38.88, & TransCanada Corp (TRP) $37.18. Some nice opportunities have opened up.
Wishing you a great week ahead, Warren.
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