8 of 14 stocks recommended last blog (Sep. 5th) increased in value for an average 0.5% gain. Top performers included Kinross (K) +4.30%, Agnico Eagle (AEM) +3.33%, Royal Bank (RY) +3.03%, Canadian Oil Sands Trust (COS.UN) +2.82%, & Research in Motion (RIM) +2.73%. Weakest performers included Canadian Natural Resources (CNQ) -3.27%, Encana (ECA) -2.32% & Power Financial (PWF) -2.08%.
The market has been range bound and appears to be near its short term top. Recommendation is to hold or accumulate on weakness without venturing too heavily into stocks for now. Best positions are higher paying dividend yielding stocks. The market should improve later in fall towards year end.
Top Holding Recommendations include: Telecom: BCE: 5.47% dividend, Rogers (RCI.B) 3.33% & Telus (T) 4.57%; Financials: Bank of Montreal (BMO) 4.64%, CIBC (CM) 4.69%, Manulife (MFC) 4.00%, National Bank (NA) 3.76%, Power Financial (PWF) 4.80%, Royal (RY) 3.68%, Sunlife (SLF) 5.23%, & TD 3.22%.
Top Picks in the above include: Telus, Manulife & Royal Bank.
Resource Stocks: For longer term picks, I recommend Agnico Eagle (AEM), Goldcorp (G), Kinross (K), Canadian Natural Resources (CNQ), Canadian Oil Sands (COS.UN), Cenovus, (CVE), Encana (ECA), & Suncor (SU). Agrium (AGU) is still a top pick but is at a 52 week high. This is still recommended as a hold.
Top speculative pick is still Research in Motion (RIM).
Income: Most preferred shares recommended in this blog have increased substantially in price (decreased in payout) since being highlighted. A few still offer reasonable income including Bombardier BBD.PR. C & D (between 6.5-6.7%), Canadian Western Bank CWB.PR.A (6.43%) & Brookfield Properties BPO.PR.L (6.37%). Still paying above 5.8% include: Brookfield Asset BAM.PR.M & N, Brookfield Properties BPO.PR.N, Great West GWO.PR.M, Industrial Alliance IAG.PR.E & F, IGM Financial IGM.PR.B, Laurentian LB.PR.D, Manulife MFC.PR.B & D, National Bank NA.PR.O & P, & Weston WN.PR.A & C. Lastly, bank of Montreal BMO.PR.N pays 5.75%. A few other individual bank and insurance preferreds pay 5.5-5.6%%, most less. Stay defensive and be prepared for opportunities coming this autumn. Good luck.
0 comments:
Post a Comment