Invest In Your Canadian Neighbor With This ETF (EWC)

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June 16, 2009 5:22pm NYSE:EWC

canadaWant that international exposure but, don’t want to fly too far?  This Canadian ETF- iShares MSCI Canada Index “EWC” offers publicly traded securities in the Canadian market. 


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)  
 
Company Symbol % Assets
BANK OF NOVA SCOTIA BNS 3.95
BARRICK GOLD CP ABX 3.54
CANADIAN NAT RES CNQ 3.5
ENCANA CORP ECA 4.82
MANULIFE FIN CORP MFC 3.56
POTASH CP SASKATCHEW POT 3.64
RESEARCH IN MOTION LTD RIM.TO 4.93
ROYAL BANK OF CANADA RY 6.66
SUNCOR ENERGY INC SU 3.31
TORONTO DOMINION TD 4.49

Full Story: Here


 

We ran this Canadian ETF through the market club software and found the following results from their chart analysis program:

 

iShares MSCI CANADA ETF (PACF:EWC)
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
+55 Total Score

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