New Stock Opportunities

Events of the past week including some dramatic pullbacks provide mid-long term opportunities worth considering.

These include the following: Barrick Gold’s (ABX) bid to purchase copper producer Equinox Minerals (EQN) resulted in the stock suffering an 8.95% drop this past week. The stock, along with Goldcorp (G), had previously shown remarkable strength, and the pullback should be viewed as an opportunity to acquire a major precious metals’ producer.

Research in Motion (RIM) delivered its “usual” disappointing results & guidance and was handed a 10.14% weekly thrashing. While the company has disappointed over the past months, the current price should be viewed as a signal to buy on weakness. While a more speculative choice, the stock should provide for excellent returns if held until the next software/electronic peak stock appreciation period of December-January.

Mid Term Stock Selections include: Agriculture: Agrium (AGU) & Potash (POT). Mining: Grand Cache Coal (GCE), Labrador Iron Ore Units (LIF.UN), Silver Wheaton (SLW) & Teck Resources (TCK.B). Financials: Based on recent pullback, check out TD Bank (TD). I also like National Bank (NA) & Sunlife (SLF). For income: Crescent Point Energy (CPG), Rogers (RCI.B) and other telecoms BCE & Telus (T). A more speculative income selection is Yellow Media (YLO) which has been hovering near 52 week lows of late.

The above selections are all noted as being mid-term recommendations. The market appears to be in the usual soft spring season and caution should be exhibited with all moves. No need to take a full position yet. I did however, purchase both Barrick (ABX) & Research in Motion (RIM ) late this past week on the pullbacks. Good luck.