Only 12 of the 25 Common Stocks Recommended Last Week (March 7) increased in price week over week. However, all 25 were over their closing price at some point during the week. 9 of the 25 Stocks hit new 52 week highs including: Royal Bank (RY), Toronto Dominion (TD) , Power Financial (PWF), Bell Canada (BCE), Telus (T), Teck Cominco (TCK.B) plus 3 new picks: Bank of Nova Scotia (BNS), CIBC (CM) & Agrium (AGU).
Top Immediate Picks for the Week Ahead (based on price weakness over the past week) include: Encana (ECA) & National Bank (NA).
Ongoing Top Picks include: Canadian Natural Resources (CNQ), Bank of Nova Scotia (BNS) & Royal Bank (RY).
Recommendations for Longer Term Accumulation include: Suncor (SU), Talisman (TLM), CIBC (CM), Telus (T), & Crescent Point Energy (CPG) which also pays more than 7% in a monthly distributed dividend.
Recommendations for Longer Term Accumulation based upon Potential Price Weakness (buy on dips)include: Bank of Montreal (BMO), Toronto Dominion (TD), Agrium (AGU), Potash (POT), Teck Cominco (TCK.B), Power Financial (PWF), Sunlife (SLF), TSX Group (X), & Trans Canada Pipeline (TRP).
New Opportunities for Income include: Brookfield Properties (BPO) converting to an income trust, H&R (HR.UN) & Riocan (REI.UN), Cineplex Galaxy (CGX.UN) and Shaw Communications (SJR.B). I purchased all of these including TRP for a family member’s RSP this past week. I also purchased RY in my margin, RSP and wife’s RSP accounts this past week. Keep an eye on the top 5 picks in particular. Good luck in the week ahead, Warren.
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