“Snap” Trump (TWTW – May 8-12, 2017)

“Snap” Trump – While by now renown for his rapid fire Twitter prowess berating opponents, belittling the press etc, President Trump might in fact have more in common with Snap… Lots of “flash”, chutzpah or whatever you choose to call it … and then … poof, the picture / follow through has just vanished …

This, in effect, is what Snap delivered when it reported underwhelming results, translating into a meaningful downdraft for its stockholders. Oh well …

Recent Developments:

  • President Trump – Fired FBI Director James Comey – causing quite a stir in the process – Did the Donald seek to put the kabosh in an inconvenient FBI investigation of his campaign’s links to Russia?
  • Moody’s downgrades Canadian Banks – on concerns about over-indebted consumers and high housing prices …
  • Bombardier – Executive Chairman Pierre Beaudoin gives up the “executive” portion of his title – in the aftermath of the significant blowback that followed the compensation boost enjoyed by senior managers post what effectively amounted to government bail out…
  • GE – At a 52 weeks lows …
  • Macron’s victory –  in last week-end’s French Presidential elections was followed by some weakness in the EURO as well as European equities – validating the notion that the win had been priced in going into the final round…
  • the Loonie – Commodity Futures Trading Commission data shows speculative positions on the short side at record levels …
  • Jeffrey Grundlach – Suggested going long EM while betting against SPY at the annual Sohn Investment Conference held in NY last week.

Latest market numbers as seen through the ETFs providing exposure to the most commonly referred to benchmarks:

ticker name change ticker name change ticker name change
XIU S&P/TSX 60 -0.34% PXG RAFI Global Fundamental -0.17% VCN FTSE Canada All Cap Index ETF -0.22%
XIC S&P/TSX Capped Composite -0.22% PXS RAFI US Fundamental Index -0.29% VCE FTSE Canada Index ETF -0.36%
CRQ RAFI CDN Fundamental -0.13% QQC/F NASDAQ 100 CAD Hedged 0.77% VUN CRSP US Total Market Index Unhedged -0.04%
XSP S&P 500 CAD Hedged -0.29% PZC RAFI CDN Small-Mid Fundam VSP S&P 500 CAD Hedged -0.28%
XUS S&P500 0.12% VXC FTSE All-World Ex Canada Index ETF 0.23%
XMU MSCI Min Vol US -0.29% XXM/b Morningstar US Value (Unh) -2.43% VEF FTSE Developed ex North-Am CAD H 0.33%
CLU RAFI US Fund 1000 CAD H -0.78% YXM/b Morningstar US Momentum (Unh) 0.12% VDU FTSE Developed ex North-America 0.00%
XSU Russell 2000 CAD Hedged -1.00% FXM Morningstar CDN Value 0.48% VE FTSE Developed Europe -0.13%
XIN MSCI EAFE CAD Hedged 0.20% WXM Morningstar CDN Momentum -2.34% VA FTSE Developed Asia Pacific 0.48%
XEH MSCI Europe IMI CAD H 0.20% VXM/b Morningstar Intl Value (Unh) 0.00% VEE FTSE Emerging Mkts 2.09%
XEC MSCI EM IMI 2.66% ZXM/b Morningstar Intl Momentum (Unh) 0.00% HAZ Active Global Dividends 0.67%
XMM MSCI Min Vol Emerging 1.59% RWE MSCI Europe Low Risk Weighted (H) 0.77% HHF Morningstar Hedge Fund Index -0.07%
CWO RAFI Broad Emerging 2.71% HMF Auspice Managed Futures -0.90%
CJP RAFI Fundam Japan CAD H -0.41% ZDJ Dow Jones CAD Hedged -0.22% HAC Seasonal Rotation -0.05%
CDZ CDN Div Aristocrats -2.96% ZEQ MSCI Europe High Quality CAD H 0.69% HPR Active Preferred Shares 0.22%
week of: May 8-12, 2017 Source: ETFinsight/Bloomberg

Weekly Volumes for the week of May 8-12, 2017:

weekly volume data:
Total Volume non-leveraged $5,367,266,261
top 10 Volume non leveraged $2,534,214,530
Total Volume leveraged $1,533,018,896
top 5 Volume leveraged $1,063,059,772
Total Volumes overall: $6,900,285,157
Top 10 + Top 5: $3,597,274,302
top 10 non leveraged % of total nl: 47.2%
top 5 leveraged % of total leveraged 69.3%
Top 10 + Top 5 as % of total traded: 52.1%

Recent Volumes:

volumes to May 12, 2017

iShares – Koesterich: What I learned at the Milken Conference

Vanguard – Framework for Constructing Globally Diversified Portfolios  

Horizons – Thackray’s May, 2017 Newsletter => click HERE to Read!

RBC GAM ETFs – Launches Global Real Estate ETF => click HERE to Read!

Purpose Investments – What Investors should know when it comes to NAFTA => Click HERE!

 

Top and Bottom performing ETFs for the week of May 8-12, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of May 8-12, 2017
ZJG CN Equity BMO Junior Gold Index ETF 8.47% $8.05 1,054,304 $8,498,256
ZGD CN Equity BMO S&P/TSX Equal Weight Global Gold Index ETF 7.89% $9.90 446,516 $4,396,062
XBZ CN Equity iShares MSCI Brazil Index ETF 5.99% $14.48 43,949 $643,746
XGD CN Equity iShares S&P/TSX Global Gold Index ETF 5.90% $12.90 8,224,311 $106,188,593
HEP CN Equity Horizons Enhanced Income Gold Producers ETF 5.39% $25.68 70,967 $1,824,071
CBQ CN Equity iShares BRIC Index ETF 4.41% $22.25 24,027 $533,481
ZCH CN Equity BMO China Equity Index ETF 4.23% $23.05 101,935 $2,362,335
XCH CN Equity iShares China Index ETF 4.03% $25.31 144,790 $3,678,941
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF 3.33% $13.08 269,990 $3,538,838
XEM CN Equity iShares MSCI Emerging Markets Index ETF 3.00% $31.18 300,416 $9,343,844
Bottom Performers
XXM CN Equity First Asset Morningstar US Value Index ETF -2.22% $12.95 712,801 $9,244,999
FHB CN Equity First Asset European Bank ETF -2.22% $9.26 84,869 $788,368
FLI CN Equity First Asset U.S. & Canada Lifeco Income ETF -2.23% $12.92 217,906 $2,819,583
WXM CN Equity First Asset Morningstar Canada Momentum Index ETF -2.34% $15.70 129,640 $2,031,972
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -2.35% $4.99 180,767 $907,438
EHE CN Equity Wisdomtree Europe Hedged Equity Index ETF -2.37% $26.26 201,150 $5,278,907
XXM/B CN Equity First Asset Morningstar US Value Index ETF -2.43% $17.52 55,374 $972,460
CEW CN Equity iShares Equal Weight Banc & Lifeco ETF -2.91% $11.93 141,325 $1,682,568
CDZ CN Equity iShares S&P/TSX Canadian Dividend Aristocrats Index ETF -2.96% $26.79 481,961 $12,883,924
HMMJ CN Equity Horizons Medical Marijuana Life Sciences ETF -3.46% $9.61 2,242,604 $21,351,702

Top Performing ETFs – Gold; China; Brazil; and by extension EM – the latter an ongoing trend that will probably continue absent unexpected shocks…

Bottom Performing ETFs – The April “high” for the Marijuana ETF looks like that was it for the moment, as we are now below the issue price, with HMMJ leading to the downside last week… Besides this, a mix of  US Value; Europe; Canadian Momentum; and Canadian Banks/Lifecos, respectively European Banks exposure experienced some weakness / pullbacks …

Last week’s Sector Performance:

sectors performance to May 12, 2017

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