While only 5 of the 13 stocks recommended last week increased in price, the overall portfolio decreased 0.6% versus the TSX Composite loss of 1.36%. Top winners were Research in Motion (RIM) +7.64% and Nexen (NXY) +2.39%. Top losers were Agrium (AGU) -4.54% and Royal Bank (RY) -4.14%. If you take the time to read back in time through this blog, you’ll discover that for the most part, the recommendations beat the TSX Composite almost every week.
The losses of this past week should offer opportunities to accumulate particularly the high dividend paying financial stocks. These include: Bank of Montreal (BMO) down 4.01% this week (4.81% dividend), CIBC (CM) -4.24% (4.63% dividend) & Royal Bank (RY) -4.14% (3.77% dividend).
Other income stocks worth accumulating include: BCE (5.55% dividend), Rogers (RCI.B) 3.50%, & Transcanada (TRP) 4.35%.
New recommendations added to a watch list only (i.e. more speculative) include: AGF Management (AGF.B) -4.54% this week (6.43% dividend), Brookfield Properties (BPO) -5.05% (3.18%) & Riocan Reit (REI.UN) -3.98% (6.28%). Toronto Dominion (TD) is always a solid income stock worth accumulating.
Immediate growth opportunities to purchase on weakness include: Agrium (AGU), Potash (POT) & Research in Motion (RIM). As in recent weeks, these stocks are recommended as long term buys only. RIM has been very hot of late increasing over 19% in the past three weeks. I traded the stock ten times in the past three weeks. Hot stocks recommended for purchasing on weakness also include: Canadian Natural Resources (CNQ) & Teck (TCK.B). Both hit new 52 week highs this past week and are due for a little pullback before surging forward. Lastly, both Nexen (NXY) & Talisman (TLM) have been showing strength in the past weeks and should be watched for any opportunities on weakness. Looks like a volatile week ahead. Be patient to take advantage of long term opportunities but play it safe. Good luck.
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