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JimVanMeerten (56.68)

Candian banks look good



February 28, 2011 – Comments (0) | RELATED TICKERS: BMO

Lately I've seen a lot of action in the Canadian banks and that's a good reason why I added
 Bank of Montreal (BMO) to the Barchart Van Meerten New High portfolio.  Their conservative underwriting techniques make money the old fashion way.

Bank of Montreal (BMO) is one of the largest banks in North America and is also one of Canada's oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs.
Technical Factors:

1 - 80% Barchart technical buy signal

2 - Trend Spotter (tm) buy signal

3 - 17 new highs and up 9.70% in the last month

4 - Relative Strength Index is 88.32%

5 - Trades around 63.44 with a 50 day moving average of 59.33

Fundamental Factors:

1 - Analysts predict the revenue will increase by 12.30% this year and 4.90% next year

2 - Earnings consensus is an increase of 9.40% this year, 11.00% next year and 10.00% annually for the next 5 years

Investor Sentiment:

1 - On Motley Fool the CAPS members vote 271 to 33 the stock will beat the market

2 - All Stars agree 95 to 8

3 - The stock has gained over 84% since getting a positive comment from Jim Cramer

If you don't buy at least add it to your watch lists.

Jim Van Meerten is an analyst for  Marketocracy Capital Management.  He shares his knowledge and experience from over 40 years of investing in stocks, mutual funds and ETFs  in his daily blog -- Barchart Portfolio Blogs.

Through Marketocracy Capital Management  you can have a Separately Managed Account that mirrors his Barchart Van Meerten New High model portfolio. 

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