Keith Richards, President and Chief Portfolio Manager, ValueTrend Wealth Management
Focus: Technical analysis
Top Picks: Tourmaline Oil, Cameco, General Motors
MARKET OUTLOOK:
My macro risk indicator known as the “bear-o-meter” just moved to a low-conviction risk zone. That means that risk is somewhat higher than last month. We measure this indictor monthly and report the results on our blog.
Risk is growing, but not alarmingly so. Another thing to understand is that the CBOE Volatility Index (VIX) is sitting near the bottom of its two-year trading range. Keep in mind that between August & September we often see the highest spikes in the VIX on a seasonal basis.
In conclusion, we could see a bit more chop than normal over the coming weeks. Having said that, the most important thing is to watch trend. The bullish breakout on the S&P 500 index (SPX), should it hold, trumps all. I’d say we use any volatility we see in the coming weeks as a buying opportunity, should the market hold its trend.
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TOP PICKS:
Tourmaline Oil (TOU TSX)
Cameco (CCO TSX)
General Motors (GM NYSE)
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| TOU TSX | Y | Y | Y |
| CCO TSX | Y | Y | Y |
| GM NYSE | Y | Y | Y |
PAST PICKS: JUNE 16, 2026
Berkshire Hathaway (BRK.B NYSE)
Then: US$494.95
Now: US$502.79
Return: 2%
Total Return: 2%
CP Kansas City Rail (CP TSX)
Then: $124.80
Now: $130.30
Return: 4%
Total Return: 5%
Peyto Exploration (PEY TSX)
Then: $24.91
Now: $24.43
Return: -2%
Total Return: -1%
Total Return Average: 2%
| DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
|---|---|---|---|
| BRK.B NYSE | Y | Y | Y |
| CP TSX | Y | Y | Y |
| PEY TEX | Y | Y | Y |
