Finding Market Opportunities, Stocks To Watch: XLV, PPH, CNQ

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00:00 There's lots of things to worry about, but is this just the opportunity?

00:03 Some people are arguing that we've been in this huge run here, now we've got a pullback here,

00:07 now everybody's starting to get bearish. Maybe we're doing it backwards. Maybe we should be

00:11 looking at buying stocks on this pullback, Christian. Is there anything you like?

00:14 Just a couple things.

00:17 Yeah, I mean, normally, and it's a product as well of what we're seeing with market breadth.

00:27 Not only does the price look lousy, but you're also seeing that in terms of looking under the

00:35 hood and seeing what's going up versus what's going down. And there's a lot more stocks that

00:40 are going on. We've got weak breadth for now. So it's a bit of a waiting game. The couple sectors

00:45 that I think are interesting is energy. We've seen a nice move in crude over the last couple weeks,

00:55 but it's tough to get all in on energy too, because you're hearing about this

01:02 weakness in China too, and that's going to be a driver of that. But yeah, energy stocks,

01:08 it goes to your value argument. And I agree with you. Right now, it's more value stocks are

01:15 starting to trend higher versus growth. So that's a great place to look because they're not expensive.

01:23 And some of them look pretty attractive depending on which energy stocks that you're looking at.

01:28 And then healthcare stocks, and I can share my screen. We can go through a couple of charts,

01:35 which I think are interesting. Yeah, I mean, so something like this, if we look at the weekly

01:41 chart of XLV, this is the healthcare ETF. What I like about this, and again, it's just like the

01:49 beginning of something. It could be the beginning of a move higher, but I like this big long trend

01:54 that you've got previously, and then a whole bunch of sideways price action. So again, there's no

02:00 rush in this one, but I think that this could be a nice area to be in, possibly for the back half of

02:07 this year. And I'm watching to see if this really can break 135.25 on the weekly chart and resume

02:14 its trend and basically go out into the right. And it just seems like without a major catalyst

02:20 right now in some of the other bigger areas like tech, consumer discretionary, I think this is a

02:27 nice area to explore. And you can kind of look at some individual names, but it's not ready yet.

02:35 This is the daily chart where you can view a little bit closer, and I would be looking for

02:42 a break above 136.20. Next thing is to kind of maybe look at some individual stocks here, but

02:48 obviously Lilly and names like that, they're just- Driving the bus.

02:54 What's that? They're driving the bus, Lilly, and something like this.

02:58 Yeah, and that's what makes this market kind of has been difficult because they're just,

03:02 they're so far, Lilly has made such a move. I can't chase Lilly up here. I've got to see some

03:08 type of a move a bit lower. So that's what kind of says be patient with some of these groups.

03:17 But another one too to look at is PPH, which is pharma. This is actually breaking higher. So you

03:25 don't see too many charts like this right now that you've got a full green bar from last week. I mean,

03:31 this had a nice move. And this doesn't look bad either in terms of just kind of taking your time

03:37 and being in something a little bit slower moving. You can make money in these stocks.

03:42 UNH doesn't look bad either. This name had good earnings and it's kind of putting in a nice little

03:52 bull flag consolidation here. So I'm looking for UNH to possibly break higher too. So that's

03:58 something in healthcare and yeah, I mean, energy stocks. I'm actually in one stock that's close to

04:05 you or maybe somewhere by you, Canadian Natural Resources. Yeah, I mean, so this isn't a bad

04:11 stock either, which is trying to break out of its sideways range. Again, nothing to knock your socks

04:18 off here. But I think for this market, these are stocks that I'm looking at right now.

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