17 of the 22 Stocks Recommended Last Blog (March 28) increased in value. Average gain for both growth and income stocks was 1.98%. Including declared dividends the average was 2.15%. Meanwhile the TSX gained 1.62%.
Notable Big Winners included: Canadian Natural Resources (CNQ) + 8.83%, Cenovus Energy (CVE) + 11.99%, Encana (ECA) + 5.40%, Talisman (TLM) +5.99%,
& Barrick Gold (ABX) + 3.36%. In the income group, Manitoba Tel (MBT) increased 3.71% while Cineplex Galaxy Units (CGX.UN) increased 2.71% and hit a new 52 week high. Notable Loser included Potash (POT) which lost 4.38%.
Recently mentioned (2 blogs ago) Notables included: Suncor (SU) + 11.25% & Teck Cominco (TCK.B) + 9.58%. Recent blogs also highlighted Nexen (NXY) +7.52% & Canadian Oil Sands Trust (COS.UN) + 11.93%.
Recommendations Going Forward are tougher to predict short term, owing to recent strong run ups of perennial favourite resource stocks. Will CNQ and TCK.B pull back for opportunities to get back in, drift lower or continue the strong price momentum forward ? Same can be asked of NXY & SU. Overall and owing to previous weeks’ past weaknesses, I still like Encana (ECA), Talisman (TLM), Agnico Eagle (AEM), Barrick (ABX), Kinross (K), Agrium (AGU) & Potash (POT). After the particularly poor showing this past week, Potash looks ready for some short term movement forward. In the financial sector, I still like Royal Bank (RY), Sunlife (SLF), TD & TSX Group (X). For income, both BCE & Crescent Point Energy (CPG) continue to look strong going forward. Also Bell Alliant Units (BA.UN) making 11.4% payouts & Riocan (REI.UN) which will not convert back to a corporation in 2011, paying 7.42% look well suited for Tax Free Savings Accounts. Keep a close watch on this past week’s big movers for their direction forward. Could be more big wins or losses (opportunities). Good luck in the week ahead. Happy holidays to all my readers. Nice to have you aboard. Regards, Warren
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