Hap (Robert) Sneddon FCSI
Materials Select SPDR Fund
XLB.US
PAST TOP PICK
Mar 23, 2018
(A Top Pick June 30/17 Up 8%). It is at the heart of the pro-growth market theme. He wants to see it hold at these levels and as it is at key support. He would accept a 3% violation of this support level before looking to cover.
The Canadian materials fund holds about 70% gold whereas the U.S. materials fund holds about 70% chemical stocks and maybe up to 10% gold, so they are very different. This U.S. fund is more of a cyclical economic play. The economy is doing well but may weaken.
(A Top Pick June 30/17 Up 8%). It is at the heart of the pro-growth market theme. He wants to see it hold at these levels and as it is at key support. He would accept a 3% violation of this support level before looking to cover.