Overall a great week on many fronts:
For the oil market, Harvey's disrupt totally the USA market and it is now starting to reflect on Canadian companies like Suncor and Meg Energy. Out of those 2, MEG is the one with the lowest cost per barrel so it is the one getting the larger impact. MEG (tsx) now sits at 5$ and would the Texas situation continue for a while, i expect MEG to reach above 6$ after hitting some resistance at the 5,10$ and 5,60$ mark. As usual, getting some profit off the table is always a great idea.
Gold is also starting to reflect the higher tension especially since North Korea fired a missile over Japan. This was a totally insane move and if North Korea was to launch toward Guam base, expect an incredible run for gold. This would reflect on all gold producing companies as this problem could become a longer term annoyance. I like Yamana Gold and Goldcorp as they were hit the worst recently and rebound in gold will profit them more.
Construction is also on the rise but i do not expect HOV to get all attention. I would prefer at this time KBH for their stability over the years.
The FANG stocks: Amazon will test again the 1000$ mark (within a couple of days) and Alphabet (GOOGL) will continue to churn around 950$.
Ford (F) has surprised me but i am still skeptical at this time.
Rite Aid (RAD) seems to have started its come back with nice gains this week and i expect the rally to continue next week.
Wishing a nice week end to all my 30k readers....
For the oil market, Harvey's disrupt totally the USA market and it is now starting to reflect on Canadian companies like Suncor and Meg Energy. Out of those 2, MEG is the one with the lowest cost per barrel so it is the one getting the larger impact. MEG (tsx) now sits at 5$ and would the Texas situation continue for a while, i expect MEG to reach above 6$ after hitting some resistance at the 5,10$ and 5,60$ mark. As usual, getting some profit off the table is always a great idea.
Gold is also starting to reflect the higher tension especially since North Korea fired a missile over Japan. This was a totally insane move and if North Korea was to launch toward Guam base, expect an incredible run for gold. This would reflect on all gold producing companies as this problem could become a longer term annoyance. I like Yamana Gold and Goldcorp as they were hit the worst recently and rebound in gold will profit them more.
Construction is also on the rise but i do not expect HOV to get all attention. I would prefer at this time KBH for their stability over the years.
The FANG stocks: Amazon will test again the 1000$ mark (within a couple of days) and Alphabet (GOOGL) will continue to churn around 950$.
Ford (F) has surprised me but i am still skeptical at this time.
Rite Aid (RAD) seems to have started its come back with nice gains this week and i expect the rally to continue next week.
Wishing a nice week end to all my 30k readers....
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