A number of large cap stocks hit new 52 week highs this past week in numerous categories: Mining, Precious Metals, Energy & Banking; before settling back a few points by week’s end. The momentum of these stocks of late should be an indication of their potential for forward movement in the future.
Here are my top mid-long term GROWTH picks:
Precious Metals: Agnico Eagle (AEM) & Silver Wheaton (SLW). Mining: Labrador Iron Ore Units (LIF.UN) & Teck Resources (TCK.B). Energy: Canadian Natural Resources (CNQ) & Cenovus (CVE). Financials: CIBC (CM) & National Bank (NA). Telecom: BCE. Other: Research in Motion (RIM).
Here are my top mid-long term VALUE picks: Based upon recent price weakness.
Financials: Bank of Montreal (BMO), Royal (RY) & Toronto Dominion (TD). Telecom: Rogers (RCI.B) & Telus (T). Agriculture: Agrium (AGU) & Potash (POT)
My second tier of mid-long term picks include the following GROWTH & VALUE stocks organized alphabetically: Barrick Gold (ABX), Scotia Bank (BNS), Brookfield Properties (BPO), Canadian National Rail (CNR), Canadian Pacific (CP), Crescent Point Energy (CPG), Kinross (K), Nexen (NXY), Suncor (SU), Talisman(TLM), & TransCanada (TRP).
Recent top recommendation Research in Motion (RIM) is announcing quarterly results this Thursday. The stock often gyrates greatly during these periods. Best to have protective stops and possibly purchase inexpensive PUTS & CALLS to buffer your position. Have a great week ahead.
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