SYNOPSIS
The markets were mixed last week with Canadian stocks moving up, while US equities headed south. By trend values on the indexes, Canadian stocks are favoured.
Trading activity… Four positions were sold this past week in the ProfiTrend Portfolio (PTP). The annualized growth rate of the PTP is 147%… down slightly from last week. That compares with an AGR of 21% for the S&P/TSX Composite Index and 10% for the S&P 500.
Topic of the Week… Spring 2014 Update on Exchange Traded Products (ETPs)
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That’s this week’s topic. We’ll do a quick review of the basic pros and cons and have a look at some of the latest ETPs that have just come to market.
State Street Investor Confidence… The Smart Money Is Still Ignoring Geopolitical Events The latest data for the month of April are included… fresh off of the latest press release on Tuesday. There was a tiny pull back during April, but the SSICI is still favouring riskier assets like stocks, rather than the security of income-based vehicles like bonds. As you may recall the SSICI is based on the actual money flow of institutional investors, not opinion surveys. State Street has $2.3 trillion under management, so this should be a rock solid indicator of where the “smart money” is located.
Seasonality… With May just a few days away and “Sell in May and Go Away” being on some people’s minds (see last week’s coverage of that topic), those who like calendar effects should being lookng for niche opportunities. We have some of those below.