Feb 21, 2019
Javed Mirza's Top Picks: Feb. 21, 2019
BNN Bloomberg
Javed Mirza, technical analyst at Canaccord Genuity
Focus: Technical analysis
MARKET OUTLOOK
North American equity indexes are short-term overbought, which suggests a near-term pullback is likely. Given our view that a new four-year cycle is underway, near-term weakness is a buying opportunity. In our view, a choppy trading range is likely to develop into March as indexes appear poised to form the right shoulder of a bullish reverse head-and-shoulders pattern. The pattern should set up a move to new all-time highs on most North American equity index later this year.
Commercial hedgers, also known as the “smart money,” are at levels that historically support an intermediate-term (three to six months) rally on WTI Crude and copper. This intermediate-term rally is likely to be a tailwind for oil-related energy stocks and copper stocks and should have legs into May.
TOP PICKS
CONSTELLATION SOFTWARE (CSU.TO)
LUNDIN MINING (LUN.TO)
ENCANA (ECA.TO)
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
CSU | N | N | Y |
LUN | N | N | Y |
ECA | N | N | Y |
PAST PICKS: AUG. 21, 2018
CGI (GIBa.TO)
- Then: $84.91
- Now: $87.80
- Return: 3%
- Total return: 3%
TD BANK (TD.TO)
- Then: $78.66
- Now: $76.30
- Return: -3%
- Total return: -1%
CONSTELLATION SOFTWARE (CSU.TO)
- Then: $920.00
- Now: $1,156.62
- Return: 26%
- Total return: 26%
Total return average: 9%
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
GIBa | N | N | Y |
TD | N | N | Y |
CSU | N | N | Y |
FUND PROFILE
CG Focused Equity Portfolio
Performance as of: Jan. 31, 2019
- 1 month: 3.7% fund, 4.4% index
- 1 year: 7.2% fund, 6.4% index
INDEX: TSX.
Returns are net of fees and distributions.
TOP 5 HOLDINGS AND WEIGHTINGS
- Royal Bank: 8.0%
- TD Bank: 7.0%
- Suncor Energy: 6.0%
- CIBC: 4.0%
- Magna International: 4.0%
WEBSITE: cgf.com