September is profit-taking season for a lot of merchants, particularly after the sizzling-hot summertime positive factors we’ve loved over the previous few months. And whereas a sizzling bull run doesn’t have to finish in tears for individuals who rode the TSX Index increased, I do assume that buyers ought to brace themselves for a surge in volatility. Bear in mind, these flat, unremarkable, and fewer thrilling buying and selling days we had in July and August?

These days might be coming to an finish as buyers hope to get forward of one another in a month that doesn’t precisely have the perfect monitor report. I don’t know if September of 2025 might be any completely different or if that summer time energy will proceed going sturdy.

Both manner, Canadians shouldn’t look to time the market, because it may imply lacking out on extra outperformance from the TSX Index, which has been powered by financial institution shares, shares of Shopify (TSX:SHOP), pipeline performs, and, in fact, the top-tier gold miners. Both manner, I’m not but prepared to surrender on Canada’s best-in-class progress shares simply because September and October could also be seen by some as chillier months for the broad inventory market.

On the subject of progress shares, assume extra concerning the long-term narrative and the kind of complete returns that may be achieved over the following 5 years at a minimal. Many traits are at work at the moment (most notable amongst them is AI), and though Canada could already be in a recession, resilience south of the border could also be extra of a driver of the scorching-hot TSX Index.

Let’s examine in on two progress performs worthy of your watchlist as summer time (and maybe a little bit of market momentum) winds down:

Shopify

For those who’re not already a Shopify shareholder, you’re in all probability feeling tempted to chase the inventory after its two-year surge of greater than 116%. Certainly, Canada’s greatest tech darling is again, and there’s extra progress on the horizon as AI and digital funds look to provide future outcomes a shot within the arm.

Although SHOP inventory is getting tougher to worth once more whereas the identify goes for over 78 occasions ahead price-to-earnings (P/E), I wouldn’t ditch the inventory because it is available in after failing to breakout to new all-time highs. I feel new highs might be only a matter of time.

Nonetheless, for now, I feel the pricey-looking identify is one which new buyers ought to look to dollar-cost common into, given the magnitude of volatility that might hit this September. For sensible buyers, a seasonal correction and rise in volatility is a window of alternative, not a pink flag. As such, buyers ought to give high-quality names like Shopify a more in-depth look because the technical energy begins to interrupt down a bit.

Alimentation Couche-Tard

Alimentation Couche-Tard (TSX:ATD) inventory rose greater than 6% on Wednesday’s session because the agency hinted at extra acquisitions to come back. Certainly, a 6% rally appears a tad extreme for information that, fairly frankly, in all probability shouldn’t have been information, given Couche-Tard is a growth-by-acquisition story, but the dearth of a 7 & i Holdings deal will enable the agency to spend the cash elsewhere. In quite a few prior items, I highlighted the potential for different offers that might drive shares increased.

In any case, I feel the previous few weeks of motion within the identify have been exaggerated in route. On the finish of the day, Couche-Tard is a improbable client staple progress inventory that might quickly flip a nook as deal bulletins start to come back in once more after a prolonged pause amid Couche-Tard’s prior pursuit of seven & i. With the inventory buying and selling at 19.7 occasions trailing P/E, with a 1.1% yield, I discover it to be a steal after its first rate Q1 report.