Leonard Goodall says “One rather easy entry point that can be acceptable to all but the most foreign-phobic is to invest in securities of our neighbor to the north: Canada.”
Leonard goes on to say “While it’s true that our economies are very much dependent upon one another, the Canadian economy has its own strengths that point to a measure of long-term independence and success.”
Leonard brings up a great point that “Canada has a breadth of resources that are the envy of most countries. Oil, lumber, water, hydroelectric power and precious metals provide the country with self-sufficient long-term wealth and an underpinning to its currency”
“Moreover, the country doesn’t have anywhere near the magnitude of security problems that are faced by the US. On a shorter-term basis, Canadian banks have not required bailout money and are regarded as among the best in the world,” Says Leonard Goodall.
I have included a list below of the top ten holders within the ETF. The top holdings seem to be weighted heavily in commodity related companies.
|TOP 10 HOLDINGS ( 42.40% OF TOTAL ASSETS)|
Full Story: Here
We ran this Canadian ETF through the market club software and found the following results from their chart analysis program:
Smart Scan Chart Analysis indicates a counter trend rally is underway The current up-trend could be changing and moving into a trading range Sidelines Mode.Based on a pre-defined weighted trend formula for chart analysis, EWC scored +55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
|-10||Last Hour Close Below 5 hour Moving Average|
|-15||New 3 Day Low on Monday|
|-20||Last Price Below 20 Day Moving Average|
|+25||New 3 Week High, Week Ending June 6th|
|+30||New 3 Month High in June|