Last blog early Wednesday, August 25, I recommended certain opportunities based upon many stocks hitting or nearing their 52 week lows. All 11 stocks recommended increased in price for an average gain of 9.91%. Top gainers included Sunlife (SLF) +18.02%, Manulife (MFC) +17.39%, Kinross (K) +14.68%, Nexen (NXY) +12.33% & Canadian Natural Resources (CNQ) +10.79%. Top recommendations were Encana (ECA) +7.47% & Royal Bank (RY) +8.09%.
This past week a number of Large Cap Canadian Stocks hit new 52 week highs including: Agrium (AGU), Barrick Gold (ABX), Bank of Nova Scotia (BNS), Canadian National (CN), Canadian Pacific (CP), Eldorado Gold (ELD), BCE, Shaw Communications (SJR.B), & Telus (T).
In the past 9 trading days I purchased Agrium (AGU) @ $73.20 (closed $75.46), Manulife (MFC) @ $11.88 ($13.23) & Royal Bank (RY) $49.20 ($52.80). I also purchased Yellow Pages 2020 Corporate Bond yielding 6.78% if held to maturity.
Recommendations going forward include Precious Metals: Agnico Eagle (AEM), Barrick (ABX), Eldorado (ELD), Goldcorp (G), and Kinross (K). Financials: Bank of Montreal (BMO), Manulife (MFC), Power Financial (PWF), and Royal Bank (RY). Energy: Canadian Natural Resources (CNQ), Canadian Oil Sands (COS.UN), Encana (ECA), and Suncor (SU). Speculative: Research in Motion (RIM). Be careful; market could flip quickly. Good luck.
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