Saturday, October 3, 2009

Canadian Oil Sands (TSE:COS.UN)

Canadian Oil Sands has recently broken through its $30 resistance. The stock made a pullback after the recent unemployment report, which gives investors a great opportunity to buy. The stock has been inching its way higher even though oil has stayed roughly the same over the past few months. COS.UN can break even when oil prices are $38 a barrel. At $70 oil, Canadian Oil Sands can increase its dividend and will also provide some growth. I see oil heading higher by year end as we make our way out of this recession. COS.UN could be at $40 by then with a hefty yield.