Tech Talk for Tuesday January 16th 2018

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Pre-opening Comments for Tuesday January 16th

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

UnitedHealth Group gained $4.16 to $232.80 after reporting higher than consensus fourth quarter revenues and earnings.

General Electric dropped $0.85 to $17.91 after revealing a $6.2 billion charge to be released with fourth quarter results.

Merck added $3.24 to $61.90 after announcing positive results from a lung cancer trial.

Citigroup gained $1.55 to $78.39 after reporting higher than consensus adjusted fourth quarter earnings.

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/01/12/stock-market-outlook-for-january-16-2018/

Note seasonality charts on Retail Trade, Consumer Price Index and U.S. Dollar Index.

 

StockTwits released yesterday @EquityClock

Canadian gold stocks $ABX.CA $G.CA leading TSX higher at the opening.

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Agnico-Eagle $AEM.CA moved above $59.25 extending an intermediate uptrend.

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Editor’s Note: Other Canadian gold producer stocks to break intermediate resistance yesterday included Kinross Gold and B2Gold.

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‘Tis the season for strength in Agnico-Eagle to move higher to the end of February!

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Sun Life Financial $SLF.CA, a TSX 60 stock moved above $52.94 to an all-time high extending an intermediate uptrend.

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Extendicare $EXE.CA moved below $8.73 extending an intermediate downtrend.

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Manulife Financial $MFC.CA, a TSX 60 stock moved above $27.53 to a 9 year high extending an intermediate uptrend.

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TSX Gold iShares $XGD.CA moved above $12.77 extending an intermediate uptrend. ‘Tis the season for strength to the end of Feb!

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for January 15th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for January 15th 2018

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for January 15th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richards’ Blog

Rotation, rotation, rotation! Keith says, “Here’s where money is going”. Following is a link:

http://www.valuetrend.ca/heres-money-going/

 

TSX Momentum Barometer

TSX momentum barometer added 1.66 to 55.60 yesterday. It remains intermediate overbought.

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Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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20 Responses to “Tech Talk for Tuesday January 16th 2018”

  1. NRG Says:

    BMO Investorline

    Wait times to talk to a rep are 40 minutes plus. Trading platform not working correctly. Not very good when you can’t buy or sell.

  2. NRG Says:

    Pure Industrial Real Estate. AAR.UN

    Sold today on takeover bid by Blackstone. Did really good on this one with a 88% gain inside my RRSP. Now to find a replacement.

  3. Bernie Says:

    NRG,
    Congrats on AAR.UN. For a replacement take a look at Summit Industrial Income REIT (SMU.UN). I added a full position in Dec.

  4. NRG Says:

    3. Thanks Bernie

    Really appreciate the recommendation. I will.

  5. NRG Says:

    Buys

    Added to my existing positions.
    BUS
    DOL
    SHOP

    Initiated new positions in

    SMU.UN
    DIR.UN

  6. NRG Says:

    More Buys

    In my trading account addded to existing positions using dividends

    ET
    GS

  7. BrianK Says:

    NRG, good call on Pure. I sold last year, thought it had already had a good run.

    Has 5i made any comments recently on Medical Facilities dr.t? It seems to be recovering and just made an accretive acquisition. Div 7.8%.

  8. Mick/NV Says:

    Last week RY.to moved above the R2 pivot point resistance, that has held up nicely so far. The stock is again this morning , another all time high but well overbought. If this ever pulls back, especially to around the $100 level would be a good buy, unfortunately I do not see that happening at the moment.

    http://stockcharts.com/h-sc/ui?s=RY.TO&p=D&b=5&g=0&id=p58190005457&a=402353557

    Another stock that is also hitting a new all time high is WSP.to, which gapped up on the open, above the R1 pivot point resistance after a price upgrade by CIBC. This stock did really well last year, up 38% and has started this year on a positive note. May take a run at R2 resistance this week if the current level holds. A drop to around the $58 might be a good entry point .

    http://stockcharts.com/h-sc/ui?s=WSP.TO&p=D&b=5&g=0&id=p18878626676&a=386213518

  9. Ron/BC Says:

    The Bank of Montreal BMO.to is the last of the CD big banks to breakout to new highs. Price recently broke above the March high of $102.26 and has held above this breakout point in a tight range for 6 days now. This is very bullish to breakout and consolidate in a tight range above that breakout point. As long as price remains above $102.26 the stock is bullish and is now support, not resistance anymore.

    http://stockcharts.com/h-sc/ui?s=BMO.TO&p=D&yr=1&mn=6&dy=0&id=p63805253821&a=568088253

  10. Muntazir Says:

    Congratulations NRG,

    Check drg.un, bpy.un & chartwell which I own

  11. dutchcanuck Says:

    Like to draw your attention to impacts of the US tax bill on Canadian companies doing business in the USA. The tax rate in the USA goes from 35% to 21% starting in 2018. So companies reevaluate assets on the books and take a slew of writedowns in the 4thQ/2017 to take advantage of the 35% tax rate. In the future they can reassess these assets and pay a rate of 21%. They can do this because the tax rate changes the discounted asset model.
    So Canadian companies with business in the USA will also take advantage of this. A good example is TD. They will taking a writedown of $400M in Q$/2017.
    These machinations will impact Q4 results and may result in lower than expected earnings, hence a buying opportunity.
    By the way if you own GE their writedown is $6.7B.

  12. Bernie Says:

    Muntazir,

    Re: Dream Global REIT (DRG.UN)
    I’ve owned this one about 2 1/2 years and have done extremely well with unrealized capital gains and a nice yield. Also like that they’re expanding their diversity with new purchases outside of Germany. What bugs me a bit though is their lack of dividend growth. They’ve been paying the same $0.0667 distribution monthly since Sep 2011. I thought by now they would see it my way…lol

    I also own BPY.UN. Not much growth there yet but great potential. The dividend growth and Brookfield name keeps me in it.

  13. Mick/NV Says:

    ema.to didn’t quite hit what would have been a quadruple bottom recently, as it did bounce off the s1 pivot point support. Over the past year, each time it has reached or become close to this level it has recovered nicely. I would suspect a rate increase is already built into the price but can’t say for sure. Rebounds might occur in similar stocks with U.S. business’ as dutchcanuck mentioned above , and can see ema.to rising to around $50 in the coming months. Has a nice 4.3% yield with a very low .2 beta. Have a full position but might consider buying more if it drops to around the $45 level , will see what happens in the next couple of days.

    http://stockcharts.com/h-sc/ui?s=EMA.TO&p=D&yr=1&mn=0&dy=0&id=p92417175165&a=504889876

  14. Ron/BC Says:

    The $TSX Energy Capped Index ETF:XEG.to remains below price resistance just under $13. This level must be cleared to expect a rally to its Dec/16 high of $14.32. The trend is positive overall but continues to underperform $WTIC and remains in its four month channel between $11.25 and $12.95.

    Too nice to be inside staring at charts. Looks like another day to play golf. Gotta take em’ when they’re offered by mother nature……

    http://stockcharts.com/h-sc/ui?s=XEG.TO&p=D&yr=2&mn=0&dy=0&id=p30065645269&a=552688412

  15. dutchcanuck Says:

    Sold 40% of Savaria SIS.TO as I had a 88% paper profit in this one. Will keep the remainder. May invest the cash in BB.TO if it settles back a bit. It’s up a lot, but I owned it 7 years ago when it was a lot higher.

    Mick I bought EMA.TO for the TFSA.

  16. NRG Says:

    BrianK. 7

    Last q/a from Nov.

    Q: In a recent reply to a question about DR, you concluded with a sentence:
    ‘This makes it tough to have a whole lot of confidence on the potential cash flows.’
    Could you please expand on this as it sounds like you are ‘forecasting’ a future drop in earnings / cash flow? Can you share any evidence you have that would support this view?
    We do not expect any declines in cash flows. But we also cannot predict any changes to the medicaid/medicare payment system and this was simply our point and why we think it is getting awarded a lower valuation. Between the political landscape in the US and what already looks like a system that is trying to cut costs, it is tough to have a lot of certainty that there will not be changes for better or worse.

  17. NRG Says:

    15. Dutchcanuck

    Good to hear from you again. SIS has certainly been a good pick from 5i research. I am keeping my shares for now. See no reason to not let it run.
    Dividends are now paying for my lifestyle in retirement. Heading for Phoenix this pm for a three month stay.

  18. BrianK Says:

    NRG Thanks for 16. Enjoy Phoenix.

  19. dutchcanuck Says:

    Sandra
    Re Trevali- it’s a pure zinc play. That said, zinc is in a real uptrend.
    CEO was on Commodities with BNN today. He’s extremely positive. Suggest you listen to the interview on BNN.

  20. Ana Says:

    http://business.financialpost.com/news/fp-street/six-canada-banks-accused-of-manipulating-derivatives-benchmark

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