It was a negative week past for the markets. Only 8 of 17 growth stock picks of last blog (April 24) increased in price and only 1 of 7 long term income stocks increased week over week. However, the overall portfolio was only down 0.007% versus the TSX Composite down 1.27%.
Big Gainers included: Agnico Eagle (AEM) +4.78%, Encana (ECA) +2.85%, Goldcorp (G) +8.74%, Kinross (K) +6.71%, Potash (POT) +2.12%, and Rogers Communications (RCI.B) +2.67%. Big Losers included: Athatbaska Oil Sands (ATH) -4.28%, Power financial (PWF) -2.75%, Sunlife (SLF) -4.87%, Teck Cominco (TCK.B) -8.80%, TransCanada Corp (TRP) -4.52%, and Viterra (VT) -2.93%.
Depending on Greek bailout results, gold could go substantially higher or lower in the short term. Kinross was highly recommended on CNBC’s influential show Fast Money on Friday and there was generally lots of discussion during the week of Agnico, Barrick (ABX) and Goldcorp. I recommend watching these precious metal stocks for opportunities to get in or out depending on outcome of European news.
Growth Stocks recommended on positive momentum include: Agrium (AGU), Canadian Natural resources (CNQ), Encana (ECA), Potash (POT), Suncor (SU), and Talisman (TLM). Growth Stocks recommended owing to recent weakness include: Nexen (NXY) -7.84% this past week and Teck Cominco (TCK.B) I purchased Teck @ $41.17, $41.00 & $40.04 (average $40.73) this past week. It closed at $39.92. I rate both strong mid-term buys.
Income Stocks recommended on strength include: Brookfield Properties (BPO), Cineplex Galaxy (CGX.UN), Riocan (REI.UN) & Rogers (RCI.B) & Telus (T). Income Stocks recommended on weakness include: Husky (HSE) -5.43% this past week, Sunlife (SLF) & TransCanada Corp (TRP). Great week, Warren.
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