Avoid Canadian Oil Stocks Like Encana and Suncor, Says Dan Dicker

Real Money Contributor Dan Dicker recommends avoiding several Canadian oil stocks following the election of Justin Trudeau as Prime Minister. Dicker said Trudeau's victory means there will be a '180 degree turnaround' in Canadian oil policy. Dicker said the Keystone Pipeline, and other pipeline projects will likely not get built. In terms of stocks, Dicker said there are several names to avoid. He cited Encana (ECA), Crescent Point (CPG), Suncor Energy (SU) as stocks investors should not hold. 'I would say if you for some reason bought at contract lows and made a few bucks, it would be time to get out for the next several months,' said Dicker. 'This is not a place you want to be.'