Kasha, it looks as though my book was right about the market going up today, but Toronto didn't cooperate too well today. Oh well. I'm not currently holding any pennies that are trading, that should tell you the sort of success I've had dealing with the microcaps lately. Wildcard is WID on Alberta, they do voice-recognition technology but their management is full of inept boobs. There's a thread going on it but there hasn't been much on it lately as the stock is suspended pending a few things. Let's see, one I like to watch but have never bought myself is Comac Foods (CFX.B on Alberta), they run a chain of coffee outlets in Canada, as well as own the marketing rights to Domino's Pizza and Manhattan Bagel in Canada. It's been as low as .30 or so in the past year and up well over $1.50 but I have yet to pull the trigger. It's an intriguing little company though. I think I've mentioned PCS Wireless before (PCS on VSE), they've been touted as having some potential in the papers lately but I don't know much about their market.
My real area of interest is banks and financial stocks like the fund companies, for leverage I like BPI Financial (BPF on the TSE), but the whole sector may stand still for a while depending on changes in interest rates. Fund companies typically have high betas, which is good if you're feeling bullish but I'm not about to totally endorse them right now. A few people have been picking Hudson's Bay (HBC on TSE) due to problems at Eaton's and K-Mart in Canada lately. Many view HBC as being well-positioned to capitalize on confusion in the department store market due to its ownership of Zellers as well, this however, is likely tempered a great deal by Wal-Mart. I've heard a lot of analysts are very bullish on Canadian Eighty-Eight Energy (EEE on TSE), I heard David Taylor, Altamira's Resource Fund manager about a month ago and he loves this stock.
What about yourself, I have a feeling you're more inclined to take a flyer on the ASE or VSE than I am, but I find it extremely tempting at times. My fingers have been burned however so I'm more cautious than before. Here's a wildcard pick for you: I received my Invesor's Digest today and an analyst has picked Spider Resources (SPQ on Alberta) with a target of $2 from it's current level around 40cents. Aparently they have diamond prospects in Brazil, Ontario, and Guinea. I know nothing about them but could get you a copy of the article if you're itching for a long shot. It might be worth follwing if you have a quote screen with Alberta available.
I've gone on long enough, talk to you soon
Steve |
