Over the last few months, we have been targeting the XIU to reach the 17.50-18.00 range.  With last week’s reversal, we are now of the opinion that the risk:reward of being long the market, particularly when using leverage, is simply not attractive. That doesn’t mean we are bearish, as we would need to see a technical topping formation as confirmation before committing ourselves to the downside.  That being said, we are reducing our market exposure to ensure that we keep the profits generated over the last 6 months.  Watch our Canadian Market Minute Video for more details.

http://www.optionsource.net/mediaplayercanadian.php

For more information on the XIU options, click on the link below:

http://www.m-x.ca/nego_cotes_en.php?symbol=XIU*&image.x=12&image.y=9

Regards,

Patrick Ceresna