Jeff Parent is portfolio manager with Quadrexx Asset Management. His focus is on technical analysis.
Nice V-shaped recovery from last year indicates renewed interest in a growth story. Ranks wells to its peer on the fundamental side. Potential to go to 6 in the short term. Sell below 5.
Buying opportunity present in this pause after a great upward trend from 2009. Charts pattern looks like a breakout from a descending triangle. This is a conservative stock. Sell below 75.
Sunshine Oilsands (listed in Hong Kong)
A higher risk play in the oilsands. With worldwide interest in our oilsands, this is a potential takeover target. Support should be strong from the Chinese. Very rare instance of a Canadian issue outside of North America.
Past Picks: June 7, 2011
Ensign Energy Services
Total return: -13.76%
Total return: -34.23%
Total return: -30.00%
Total Return Average: -25.99%
“As economists struggle with mixed news, the indexes have been rising steadily for three months. The U.S. has been leading the way upwards with a broad-based rally indicating belief of a sustainable recovery. Technically, this phase of the markets could be considered the first up leg of a bull market. Our bias is positive and we are deploying cash into the markets.”
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Compiled by Franklin Cameron, BNN Market Call Tonight
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