TOUCH-DOWN?

TD

Add some TD (52.85) this morning. I have way too much cash and I would like to park them somewhere for the summer, and banks appear to be the appropriate place for their stable earnings, and dividend yield. TD is also a obvious trade here as this rumor of merger with AMTD swirling around. Depending on terms of the deal, it could move TD to $55 range, which is all I am looking for. On the negative side, banks are not cheap, and TD is trading at a premium to other banks. Concerns of interest rate are still hanging around. While earnings are stable, they are really not very impressive. Last but not the least, I own way too much financials. Unfortunately this is a reality in Canada. Excluding financials and materials, there is not much left.

Averaging some COM. I do not really know if this is a good move as it continues to be a rather speculative stock, and I have never made any money investing in biotech. On the other hand, biotech is so widely hated that it probably wouldn’t hurt to nibble a bit here. Initial target $9.0 and stop loss at $6.5.

GLW

GLW got stopped out at $15.99, really against my will. I still like the company, the sector and overall trend. But I am also concerned that this rally might run off its course and a correction could potentially in place. That’s why I have tighten up the stop. GLW could be also under some pressure as a result of recently announced new issues (20 million shares). I will like to take it back if it falls below $15.