With many stocks at or near 52 week highs, I’ll recommend that you hold and not purchase too many stocks unless market weakens. While only 7 of the 14 stocks recommended last week increased in price, the average portfolio gain was 1.06% versus the TSX Composite of 0.59%. Top gainers included Agrium (AGU) +7.34%, Nexen (NXY) +4.62%, Teck (TCK.B) +2.22% & Bank of Montreal (BMO) +2.04%. Top loser was Research in Motion (RIM) -1.52. 4 of 14 recommendations hit new 52 week highs including Agrium (AGU), BCE, Rogers (RCI.B) & Telus (T). As predicted the market did not move too much.
Bond Recommendations include: Instead of holding cash consider Riocan Reit corporate bonds due June 2012 yielding 2.41%. Other high yielding corporate bonds include: Consumer Waterheater April 2014 yielding 4.57% & Yellow Pages Feb 2016 @ 5.01%.
Income Recommendations include: BCE (5.38% dividend), BMO (4.63%), Crescent Point Energy (CPG) 6.90%, Rogers (RCI.B) 3.21%, Royal Bank (RY) 3.60%, Riocan Reit (REI.UN) 6.17%, Telus (T) 4.32%, TSX (X) 4.83%, Toronto Dominion (TD) 3.29%, & Vermillion (VET) 5.76%.
Growth Stock Recommendations on weakness include: Canadian Natural Resources (CNQ), Nexen (NXY), Suncor (SU), Talisman (TLM), Kinross (K), Potash (POT), Research in Motion (RIM) & Teck (TCK.B). I recommend holding and not increasing Agrium (AGU) Canadian National (CNR) & Canadian Pacific (CP).
Nothing wrong with taking some profits and preparing for another upleg later this year. Good luck.
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