14 of the 21 stocks recommended last blog increased in price for an average 2.2% versus the TSX Composite gain of 1.3%.
- Top gainers included Canadian Natural Resources (CNQ) +8.47%, Teck Resources (TCK.B) + 7.43%, Encana (ECA) +5.58%, Talisman (TLM) +5.52% & Suncor (SU) +5.41%.
- Top losers were Manulife (MFC) -2.97%, BCE -2.25% & Sunlife (SLF) -1.64%. Energy stocks had a big week with many trust units hitting new 52 week highs including Bonavista (BNP.UN), Baytex (BTE.UN) & Enerplus (ERF.UN).
The axis of the market appears to have evolved into autumn trading with resources taking over market leadership from safer financials & telecom. For my personal accounts I traded Research in Motion (RIM) 4 times purchasing and selling it at the following: $48.21-49.99, $48.23-49.98 $48.63-50.67, & $49.58-50.91. Stock closed at $51.20 and remains a top trading recommendation. Autumn is usually a strong season for technology and RIM should do well into the new year. For safety and income I purchased in an RSP account YPG Holding March 2020 corporate bond yielding if held to maturity 6.78%.
Top recommendations on weakness for the week ahead include: Agrium (AGU) & Potash (POT). Also watch Canadian National Rail (CNR) & Canadian Pacific (CP). Energy and overall resource stocks should keep surging forward but try to purchase only on pullbacks. Recommendations include all top gainers noted above plus Cenovus (CVE), Nexen (NXY) & Canadian Oil Sands (COS.UN). For safety and higher dividends, accumulate financials and telecom including Bank of Montreal (BMO), Royal (RY), TD, Industrial Alliance (IAG), Manulife (MFC) & Sunlife (SLF), BCE, Rogers (RCI.B) & Telus (T). Watch the market closely as it could be a strong week for both accumulation and trading in and out of positions. Best of luck.
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