Dan Frishberg, editor of The MoneyMan Newsletter and host of BizRadio 1320, is going out on the limb with some contrary positions in two out-of-favor sectors -- a U.S. housing play and a Canadian income trust.

To recall, last fall, the Canadian government changed laws regarding the way that Canadian income trusts would be taxed, which led to a marked fall-off in the entire sector. Frishberg now notes, "I've been watching the sector since prices fell dramatically in a short amount of time." And one stock in particular that he has watched is Canetic Resources Trust (NYSE: CNE), which he notes fell from $17 to around $12.

Since then, he says, it's bounced around $12 several times and it appears it's finally starting to get some traction. Indeed, he adds, "There are now rumors of private equity coming into this area as their next target. Many energy trusts might get taken public and their domiciles moved to another country, possibly the U.S."

He continues, "If that happens, many of these trusts will rocket higher." The advisor has added Canetic Resources to his income portfolio. The stock has a yield based on the current dividend of just under 15% per year and pays a monthly dividend.

In another move into an equally out of favor sector, the advisor is also going long in the housing sector. He explains, "Stocks move ahead of news -- and some of our forward looking indicators are showing that home prices may actually improve in the next few months."

Frishberg notes, "Once everyone agrees that housing is improving nationally, the stocks will have already run up in advance. From a technical perspective, we really like the homebuilders as a whole." To reduce risk, he is avoiding investing in any one particular housing stock and is buying a basket of holdings iSHARES Dow Jones U.S. Home Construction (ASE: ITB), an exchange-traded fund."

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