IVAN

BUY SUNCOR (SU.TO) $33.68
BUY IVAN $3.38
BUY SBGI $5.66

Markets continued higher today for a second day in a row. The long term trend has been broken last week and I think we will have a short bounce here before heading back lower so trade cautiously and I will be looking to take profits when I see any signs of a market turn. I will also be raising stops higher as the market bounces here to lock in gains.

It was a nice day for IVAN today as it broke out nicely above previous resistance of $3.27. I`m up 6% on the trade so far and caught the breakout early. The stock closed strong near the highs on strong volume so look for some further strength in this name.

We gotta watch the US$ as it looks to be weakening after a strong run lately. And you know the US$ has been inversely related with the performance of the markets. So if we continue to see the US$ weaken, we can see markets headed a bit higher.

Oil looks ready to move higher here and with the weak earnings in Suncor (SU.TO) today I decided to jump in and pick up some shares. Normally I do not buy on these dips as I like to trade breakouts and momentum but I think this is a good longer term investment. We will see how this performs tomorrow and hopefully oil strength can bring this name back. I`m watching the low from early September and if the stock takes out that low, I may get out.