After a strong week on the market for many sectors, one has to be wary whether the market leaders have recently gone up too much too fast. Leading stocks that hit new 52 week highs include: BCE, Telus (T), Scotia Bank (BNS), Industrial Alliance (IAG), Laurentian (LB), Toronto Dominion (TD), TSX Group (X), Cameco (CCO), Iamgold (IMG), Potash (POT), Viterra (VT), Canadian Natural Resources (CNQ), Cenovus (CVE), Imperial Oil (IMO), Suncor (SU), Bonavista (BNP), Baytex (BTE), Penn West (PWT), & Vermillion (VET).
While the TSX Composite increased 2.6% this past week, since January 1st it’s only up the same 2.6%. Many stock increases year-to-date or strictly as a result of this past week. Is this therefore a point where stocks continue upward or retrace some steps ? No one can answer that question so the best strategy is to watch carefully for any indication.
Hot Market Sectors year to Date include: Health (+13.4%), Technology (+11.6%), & Telecom (+5.5%).
Hot Stocks Year to Date include: Viterra (VT) +29.2%, Bombardier (BBD.B) +24.2%, Potash (POT) +16.0%, Penn West (PWT) +11.5%, Telus (T) +9.3%, Research in Motion (RIM) +8.5%.
Stocks to Watch this Week: Financials: Bank of Montreal (BMO), Scotia (BNS), Royal (RY) & Toronto Dominion (TD); Energy: Canadian Natural (CNQ), Nexen (NXY), Suncor (SU) & Talisman (TLM); Agriculture: Agrium (AGU), Potash (POT) & Viterra (VT), Mining: Agnico Eagle (AEM) & Teck (TCK.B).
Keep a sharp eye for potential dips or upward indications for buying/accumulating opportunities. Good luck.
0 comments:
Post a Comment