As noted in recent blogs over the past month, mid-late spring is historically not the best time to enter the market. As such, I’ve continually recommended caution and accumulating versus taking major positions in any stock. Defensive and income stocks were highlighted last week. Irrespective, there are still some potential quick and long-term gains based on calculated small moves. Some of these include the following stocks:
Energy: After a sizeable drop last week and into early this, a few major players have potential gains ahead. These are: Canadian Natural Resources (CNQ), Nexen (NXY), Suncor (SU) & Talisman (TLM). For income (and potential growth) watch Crescent Point (CPG) & Penn West (PWT).
Mining: Labrador Iron Ore Units (LIF.UN) & Teck Resources (TCK.B) and more speculative Grand Cache Coal (GCE).
Precious Metals: Agrium (AGU), Iamgold (IMG) & Silver Wheaton (SLW).
Agriculture: Agrium (AGU) & Potash (POT).
Industrials: Canadian National Rail (CNR) & Canadian Pacific (CP). For growth and income, watch Russel Metals (RUS).
Telecom: All 3 major Canadian companies appear headed for solid long-term growth: BCE, Rogers (RCI.B) & Telus (T).
Financials: All six major Canadian banks look strong: BMO, BNS, CM, NA, RY & TD. Also watch Sunlife (SLF).
Speculative owing to recent weakness: Research in Motion (RIM) & Yellow Media (YLO) offering over 13% in annual income.
Continue with caution. Keep plenty of reserves for opportunities (e.g. this past Monday). Good luck and happy holidays.
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