Every
day I scan the new 52-week high and 52-week low list mostly because I have
learned that when a stock makes the list following a quiet period – the first
52-week high or low won’t be the last.
My
52-week low rule is to never own a stock that makes a new 52-week low period. My
52-week high rule is to consider a stock for purchase if it makes the 52-week
high list following a quiet or congestive period.
I
see that at the close to-day Cascades Inc. (CAS) $5.38 (volume 335,372) and Precision
Drilling Corporation (PD) $9.62 (volume 1,405,000) both posted new 52-week
highs following a long congestive period. Most interesting is these stocks are cyclical
names and quite a departure from all of those consumer and income related
names. Disclosure – I own CAS and wished I owned PD
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2 comments:
Hi Bill,
I know you're bullish on commodities but how do you feel about emerging markets? China and Brazil usually ove in the same direction as commodities.
FXI and EWZ Are currently trading at levels last seen in 2006. Where do you think the MACI Emerging market index goes from here (EEM)?
Shawn
Hello Shawn
I would pass on the FXI, EWZ and EEM for now - right now our own XIU looks better so keep the money home in CDN$
Bill C
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