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TSX Quality Stocks

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Deal Addict
Feb 9, 2013
1912 posts
1314 upvotes
Mississauga

TSX Quality Stocks

What are some quality stocks in TSX that have gone down and look good to get into at this price point to take advantage of this correction?
13 replies
Deal Fanatic
Apr 11, 2012
5865 posts
3138 upvotes
Winnipeg
oil stocks have gone down as much as 30-40%.
TBE, COS, SGY, SU, husky etc
Deal Fanatic
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Jun 19, 2009
6135 posts
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Scarborough
I would just add to your existing positions of whatever you held currently. There was nothing substantial that caused this slight correction, so fundamentally everything should still be sound, just the price is cheaper :)
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Apr 12, 2012
2905 posts
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Toronto
SkimGuy wrote: I would just add to your existing positions of whatever you held currently. There was nothing substantial that caused this slight correction, so fundamentally everything should still be sound, just the price is cheaper :)
Very true, its like getting a discount. Another stock that I believe will continue to strengthen is https://www.google.ca/finance?cid=690246
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Mar 13, 2012
865 posts
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Planet Earth
Pick from the top 10 in your preferred sector: http://web.tmxmoney.com/indices.php?sec ... #indexInfo
or use a large cap value screener: http://web.tmxmoney.com/screener.php?qm_page=28536

You provided no background on what you own, what your goals are or what your tolerance for pain is. You'll get a million opinions on RFD (everyone is a millionaire don't you know) so better to educate yourself and do your own due diligence. News is all over this blip (pffffttt) so don't get caught up on the noise.
If at first you don't succeed, destroy all evidence that you even tried.
Sr. Member
Jul 17, 2013
584 posts
95 upvotes
Greenwich, CT
SkimGuy wrote: I would just add to your existing positions of whatever you held currently. There was nothing substantial that caused this slight correction, so fundamentally everything should still be sound, just the price is cheaper :)
...except the plummeting prices of commodities (oil and gold in particular) which is very heavily weighted on the TSX index? You really shouldn't be giving any advice if you failed to factor that in.
Deal Addict
Sep 6, 2010
2029 posts
804 upvotes
Vancouver
TranscendentExp wrote: TD is less than 10% off it's 52 week high. I wouldn't call that down.
It hit $50.11 on Thursday...that is 14% off its high, so yesterday it was DOWN then in your eyes?
Sr. Member
Jul 17, 2013
584 posts
95 upvotes
Greenwich, CT
Wpegger wrote: oil stocks have gone down as much as 30-40%.
TBE, COS, SGY, SU, husky etc
This is a really good recommendation. If you're patient, oil stocks will eventually make their way back to the level they were at 2 months ago. They might even bounce back up within the next 2-3 months.

Suncor, Husky, and Cenovus are all excellent, big, integrated (they are not just a producers so they're not heavily impacted by short-term fluctuations in oil prices) oil companies with excellent balance sheets. At current levels, Suncor pays a 3%+ dividend and Husky and Cenovus both pay 4%+. Smaller oil companies will have more upside but also more risk as they are more susceptible to weaknesses in oil price. Warren Buffet holds Suncor.
Sr. Member
Jul 17, 2013
584 posts
95 upvotes
Greenwich, CT
gwplant wrote: It hit $50.11 on Thursday...that is 14% off its high, so yesterday it was DOWN then in your eyes?
Sure, but it had a big rally the past couple days along with all stocks. Factoring in that non-oil & gas related Canadian stocks haven't really went down much to begin with, it's not really cheap based on fundamentals.
Deal Addict
Feb 9, 2013
1912 posts
1314 upvotes
Mississauga
Wpegger wrote: oil stocks have gone down as much as 30-40%.
TBE, COS, SGY, SU, husky etc
SGY down a lot, would it be wise to average down?
Futures for oil prices don't look that bright.
Deal Fanatic
Apr 11, 2012
5865 posts
3138 upvotes
Winnipeg
jdu0ng wrote: SGY down a lot, would it be wise to average down?
Futures for oil prices don't look that bright.
I'm down a lot...I don't know what to say. Just have to hold and see...don't want to tie more money. I would rather diversify in my case if I have extra cash.
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Dec 14, 2010
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jdu0ng wrote: What are some quality stocks in TSX that have gone down and look good to get into at this price point to take advantage of this correction?
Any stock that keeps increasing earnings consistently is high quality. So screen for that.

Keep in mind that price drop means nothing. Some stocks dropped a lot recently are still overvalued or in a weak market and might drop more. And some stocks barely dropped, and are fairly valued, so it likely will continue to do well. So valuation, not price movement, is what one should look for.

Rod

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