With the market edging higher, there are less opportunities for picking stocks for quick trading profits. There are however, certain longer term potential gains available. Some of these would include the agriculture, energy and financial stocks. Precious metal stocks are often a 50-50 luck of the dice pick, irrespective that long term prospects for the price of gold look very promising. It’s in the interest of the US to maintain a weak dollar as it fuels export growth and makes debt repayment to foreign lenders less expensive. As such, gold and oil hold long term growth potential.
Short to mid-term stock recommendations include: (Agriculture) Agrium (AGU), Potash (POT) & Viterra (VT). (Energy) Canadian Natural Resources (CNQ) & Suncor (SU). (Financial) Bank of Montreal (BMO), Scotiabank (BNS), National Bank (NA), Royal (RY) & Toronto Dominion (TD).
Mid-to long term recommendations include: (Telecom) BCE, Rogers (RCI.B), Telus (T), (Industrial) Canadian National Railway (CNR) & Russel Metals (RUS), (Mining) Labrador Iron Ore Units (LIF.UN) & Teck Resources (TCK.B).
Speculative or more long term recommendations include: Agnico Eagle (AEM), Barrick (ABX), Cameco (CCO), Iamgold (IMG), Research in Motion (RIM) & Silver Wheaton (SLW).
Second tier recommendations include: CIBC (CM), Cenovus Energy (CVE), Nexen (NXY), & Talisman (TLM).
Market Hold Pattern for now. Good luck.
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