The Financial Post reports in its Tuesday edition that as the tax-loss selling season approaches, Bank of Nova Scotia is recommending switch trades in a year where broad-based gains necessitate more targeted action. A Bloomberg dispatch to the Post quotes Scotiabank analysts including Hugo Stemarie saying in a note Friday: "Overall, investors do not have as large of choice for tax losses purposes this year, which may exacerbate selling pressure. Given that investors have to sell them to crystallize their losses, these stocks may continue to experience downward pressures until yearend." The bank is recommending tactical switch trades: selling a year-to-date loser to buy a stock with exposure in the same sector to capture potential upside. In some cases, these are short-term ideas, and the recommendation is to switch back into underperforming names early in 2025. TD Bank is down 8.7 per cent year-to-date. Scotia recommends dropping TD for competitor Royal Bank, which is up 30 per cent year-to-date, or CIBC, up 43 per cent. Other large switch-trade candidates include selling CN Rail, down 6.6 per cent, to buy Cargojet, up 3.7 per cent; and Nutrien, down 12 per cent, to buy West Fraser Timber, up 17 per cent.