Elliott Fishman, director of U.S. and international equity trading of the Trading Services Group at Scotia Wealth 
FOCUS: Technical analysis
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MARKET OUTLOOK

The Dow Jones Industrial, S&P 500 and the NASDAQ are all at all-time highs. For me, as a market technician, there isn’t a lot I can add to this current one-way train. But what I can say is this is a very unique time for investors. I feel they are on a level playing field against us so-called professionals, due to three big themes:

1. Markets at all-time highs
2. Cryptocurrencies
3. Cannabis space

When markets or stocks are at all-time highs or lows, it's anyone's guess as to what will happen next, but I feel that current market momentum will continue. It will take a non-stock related event to derail it. Cryptocurrencies are in their infancy and in “I don’t want to miss out” mode. Cannabis is just making it to the mainstream and investors could easily say “I don’t want to miss out” here too.

TOP PICKS

BARRICK GOLD (ABX.TO)
Barrick has been testing its 200 week moving average of $18.37 and looks extremely attractive to me at these levels. I would be a buyer now with a $25 target this year. 

HUDSON'S BAY COMPANY (HBC.TO)
I feel that some of the bigger U.S. retailers have begun to bottom out (i.e., Macy’s, Ralph Lauren), while the lower end stocks such as Wal-Mart and Dollar General have maintained strength and upper momentum. Hudson’s Bay has been mentioned in the rumour mill a few times in 2017 with shareholder activists trying to get full value for the battered shares. At its current depressed level of $11 I see only upside and would be a buyer at these levels with an easy $15 target this year.

WYNN RESORTS (WYNN.O)
Another sector rounding into prominence even after an 8000 point DOW run is the gaming sector. I like WYNN as the leader of the group. Its current upward momentum from breaking out to the upside at US$130 (its 200 week moving average) to its current price of US$165 should propel it back above US$200.

PAST PICKS: JANUARY 3, 2017

MGM RESORTS (MGM.N)

• Then: $29.48
• Now: $33.51
• Return: 13.67%
• Total return: 15.30%

NIKE (NKE.N)

• Then: $51.98
• Now: $63.49
• Return: 22.14%
• Total return: 23.77%

TARGET (TGT.N)

• Then: $72.75
• Now: $67.63
• Return: -7.03%
• Total return: -3.11%

TOTAL RETURN AVERAGE: 11.98%