Another difficult week in the market. However, this presents new opportunities for quality stocks that have been hit hard of late. Take a look at these:
Financials: Top New Picks: Laurentian Bank (LB) which suffered a 9.88% decline this past week. Certainly not my favorite ordinary stock pick but the sharp decline offers mid-long term reasonably solid growth. Royal Bank (RY) has been hit hard of late and rates a strong mid-term buy. Other financial stocks looking primed for mid-long term gains include: CIBC (CM), National Bank (NA) & Sunlife (SLF). TSX Group (X) has shown strong momentum of late.
Resources: Top New Picks: Eldorado Gold (ELD), Russel Metals (RUS) & Viterra (VT) which suffered a 6.81% loss this past week. Still on the buy list for mid-term gains include: Agrium (AGU), Agnico Eagle (AEM), Barrick Gold (ABX), Canadian Natural Resources (CNQ), Labrador Iron Ore Units (LIF.UN), Potash (POT), Suncor (SU), & Talisman (TLM).
Strong Momentum: Worth noting are stocks that have performed well in this drab market. These stocks include: BCE, CN Rail (CNR), Telus (T) & Trans Canada Corp (TRP). Newly added is Bombardier (BBD.B).
Speculative Picks: “Perennial Speculative Pick” Research in Motion (RIM) along with Yellow Media (YLO) – the preferred shares as noted last blog had a wild swing and big profits could have been made for those stout of heart investors. Imagine big quick profits from preferred shares ? Newly added is Toromont Industries (TIH) which suffered a 34.53% decline this past week. For fun, watch the action on Sino Forest (TRE) which dropped 71/56% this past week ! There are a few new picks worth strongly considering in particular the financial stocks listed above. Have a great week ahead and enjoy the heat.
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