Over the past three weeks I have continually advised readers to be careful in the market. With the hopeful improvement of the crisis in Japan, it is presumed that companies involved in the material sector stand to benefit with the rebuilding efforts. The market appears to have settled down from the extreme turbulence of the past week in particular.
Recommended Stocks of blog last week (to be purchased with caution) increased on average 2.03% versus the TSX Composite of +0.84%. 17 of the recommended 22 increased in price.
Recommended Stocks Going Forward include: Materials sector: Teck Resources (TCK.B), Labrador Iron Ore Units (LIF.UN) and Russel Metals (RUS).
Energy is still a mid-long term buy including top producers: Canadian Natural Resources (CNQ), Suncor (SU) & Talisman (TLM).
Agriculture stocks have suffered some serious setbacks of late and could be poised for long term growth. Top 2 producers would be rated buys including Agrium (AGU) and Potash (POT).
Bank stocks have shown strength throughout the recent weeks and would be still considered to be Buy-Holds including: Scotia Bank (BNS), National (NA), Royal (RY) and Toronto Dominion (TD).
Speculative Buys include: Smaller copper producers including First Quantum (FM) & Lundin (LUN). Longer term very speculative stocks to watch include Cameco (CCO), Paladin (PDN) & Uranium Participation Units (U).
Could be a volatile week again in the market. Continue with caution but be open to opportunities. Don’t sell into weakness. Good luck.
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