Hap (Robert) Sneddon FCSI

Yes. That's a technical question, so we look at all the indicators. If you look at what we've seen from about December 2023 to now, we're seeing a rolling top. Typical this time of year. Every January, we always get a bit of a soft spot, especially after the Santa Claus rally. Gets soft into the end of January, so it's not something to worry about too much. 

This year, because it's an election year, it's going to be a little bit bigger.

When we have an election year, the downside softness in January expands to mid-March. He's expecting markets to be lumpy and up/down, a "washing machine" effect. When you look at the fundamentals, you get a lot of election noise. Once all the news is digested, the chart resumes its upward excitement about the coming election.

When you add that to the economics such as Canada's PPI coming out hotter than expected yesterday, upcoming US PPI, and global central bank actions, there are a lot of moving parts until about mid-March. He thinks we're going to have a lot of US election surprises, hopefully to the good with less political hostility.

He'd never say sell RY. Great to hold long term. If we're going to get granular, hit a bit of a lull around $135. Probably will see interest again around $126. Hold. If you don't own any, the best one to buy a starter position in today.

He compares all the sectors on a short-term and long-term basis. On a relative basis, financials had crept up to #4 out of 18 areas he looks at in the Canadian market. Last couple of weeks they've come down to #8 short term, but they remain #3 for the long term. Interest rate rise will probably cause a few hiccups, along with concerns on real estate, so banks won't do much in the short term.

Cup-and-handle is quite a positive pattern. Once you get a breakout, you get quite a nice move, usually the measured depth of the cup. $150 is the underside of the previous range. Core consumer/tech stock. He'd buy today. If you're concerned, by 1/2 position now, rest later.

Industrials aren't too topical right now. Stock's been in a range for a couple of years, which is usually a positive sign. He'd be comfortable buying in the range, or if it spent more time above $36. Like tipping a Coke machine, sometimes it needs a couple of heaves to get it up through the price level.

Volatile sector. Energy is #18 of 18 short term, #8 long term. Lots of undervaluation in the sector. Decent dividend. Stable chart. Plays into the slower-paced move to sustainable energy, creating a bid under the energy sector.

He just bought. Decent moves of late. Can be a frustrating stock because of spiking costs, labour unrest. Barrier to entry favours them. Rest of the year looks positive.

Technically, good time to buy. No justice in this business, so just because it's oversold doesn't mean you're going to get rewarded. Around $60 is good risk/reward. Nice dividend. He's looking at it. 

Fundamentals will improve over time. Like putting mail bags out for the train back in the day, you didn't know when the train would come, just that at some point it would.

Sometimes the best time to plant an oak tree is today. If you're trying to find the best time to buy, buy half now, and the rest on a downdraft. Well run, usually delivers. Short-term suggestion that it can come back into its range.

He uses all 3 disciplines: technical, fundamental, and seasonal. It's about trying to get the odds in your favour. Getting as much data to make the best decision you can, not about being precise. If you wait for the perfect price, you may never buy. He tries to be agnostic when buying and selling, keeping emotion out of it.

Always compare a stock's technicals relative to the S&P 500.

After years in the business, he tries to keep stock selection simpler than ever. For good companies, just go buy them. Whether you want to add to your position on pullbacks is just a nuance.

If investors have some time, read what Stanley Druckenmiller has to say. Patience is what makes you money in this business.

You can't plan for black swan events. Portfolio management is your best friend. Great run since last May. If you bought at $8.50, and the stock's down today from around $13, he'd take some off the table but keep your position. Support around $11.60, $1 below where it is right now.

One of those you just buy today and hold. Pretty volatile. Secular trend in healthcare. Wide moat. 30% free cashflow. Good stock.

Standing on the shoulders of giants. Let other people make some choices for you. Once you buy it, no reason to ever sell unless it becomes too big a position in your portfolio.

Because the market is slowly acknowledging how green we can get, this will benefit long into the future. With its natural gas focus, will have one of the biggest tailwinds in the space. Great dividend of 4.3%.