Tuesday, June 9, 2015

BNN Top picks from Eric Nuttall: Tamarack Valley Energy, Trinidad Drilling, and Grenville Strategic Royalty

Eric Nuttall, portfolio manager, Sprott Asset Management

FOCUS: Oil and gas stocks and small-cap Canadian equities

The Canadian energy market has now entered its normal summer malaise while being generally unattractively valued, given the likelihood of a $65 per barrel ceiling price for the next several years. Patience (and cash) will likely be rewarded with a better entry point later this summer heading into the fall. Sometimes the best way to make money is to not lose it in the first place.
Non-resource small caps are generally fully valued as money continues to migrate/stay out of resource stocks. Boring low growth companies are being punted by private equity funds at extremely high valuations and new non-resource IPOs are 10 times oversubscribed. Both of these examples show how crowded the anti-resource trade has become and why valuations are currently unattractive.  (click here)

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Robert Prechter is Warning of a ‘Sharp Collapse’ in Stocks

Who is Robert Prechter, and why should investors care that he is warning them to be on high alert for a potential collapse in the stock market?
The president of Elliott Wave International, Prechter may not be a household name on Main Street, but he’s widely known on Wall Street as the foremost authority on the Elliott Wave principle, a forecasting methodology used by generations of technical analysts that is based on the belief that financial markets trend in five waves, and retrace in three waves.
Prechter is also the executive director of the Socionomics Institute, founded to study how those same wave patterns define changes in social mood and govern social events.
Continue Reading at MarketWatch.com…
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Stocks To Watch: ZIOP, TASR, IXYS, PBMD

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) had a very nice session today, breaking out above the $10 level on decent volume. As long as it can hold this support area, it looks good. On the daily time-frame the MACD-histogram has been sloping up and the 100-day SMA has just ticked up to give a buy signal on the Impulse System. From here, we can expect a run to the $11.17 area and from there we could see an upsurge to $12 and better. Look to buy the stock on dips with a stop around 9.

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TASER International, Inc. (NASDAQ:TASR) broke through resistance and out of a bullish flag formation. Watch for continuation. Long on the break of Monday’s high at 33.17

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IXYS Corporation (NASDAQ:IXYS) Broke out to new highs today on High volume. I think we will see some nice follow through tomorrow.

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Prima Biomed Ltd. (NASDAQ:PBMD) held up well in the weak market. I believe the stock is basing here for a move higher. I expect to see a good upside move once the stock breaks through resistance now at $2.39

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Boston Scientific Corporation (NYSE: BSX)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in three segments: Cardiovascular, Rhythm Management, and MedSurg. It offers interventional cardiology products, including coronary stent systems used in the treatment of coronary artery disease; coronary technology products to treat atherosclerosis; intraluminal catheter-directed ultrasound imaging catheters and systems for use in coronary arteries and heart chambers, as well as peripheral vessels; and structural heart therapy systems. The company also provides stents, balloon catheters, wires, peripheral embolization devices, and vena cava filters to diagnose and treat peripheral disease; and biliary stents, drainage catheters, and micro-puncture sets to treat, diagnose, and ease benign and malignant tumors.
Take a look at the 1-year chart of Boston (NYSE: BSX) below with my added notations:
1-year chart of Boston (NYSE: BSX)
Over the last 8 months BSX has been trending consistently higher, while also forming a nice trend line of support (green). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. As you can see, the market deems BSX’s trendline to be very important. In addition, the stock also has a 52-week high level of resistance at $18.50 (red).

The Tale of the Tape: BSX has a trend line support and an $18.50 resistance. A long position could be entered on a break above $18.50, or on a pullback to the trendline, with a stop placed below the level of entry. A short position could be entered if BSX were to break below its trendline.
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