Market. The conference this weekend was a bit of a surprise. It looked like they were making some progress. Theft of intellectual property is a big thing. He is doubtful that this will get solved two weeks from now in Argentina. The markets for the next little will find this to be a significant negative factor. The price of oil for the last 8 weeks has been making lower lows and lower highs. He does not see that it will collapse now. We will probably get a tradable bounce in the energy sector. As global numbers have come in the last number of weeks, purchasing managers are cutting back. The Fed is indicating they cannot raise rates as much as they thought they could do a month ago.

ZPR-T vs. ZWC-T vs. ZWU-T. He likes ZWU-T and ZWC-T for the covered calls. ZPR-T is reset preferreds. They reset. There is an expectation that BOC will be less aggressive with interest rates so we are seeing pressure on these. The lower it gets the more he likes it. He feels it will appreciate next year.

ZPR-T vs. ZWC-T vs. ZWU-T. He likes ZWU-T and ZWC-T for the covered calls. ZPR-T is reset preferreds. They reset. There is an expectation that BOC will be less aggressive with interest rates so we are seeing pressure on these. The lower it gets the more he likes it. He feels it will appreciate next year.`

Bonds. You have fixed coupon bonds and floating rate notes where the coupon adjusts so the price does not. Floating Rate and Reset Preferred bonds are better in a rising rate environment.

ZPW-T vs. ZWH-T. If you can afford to stay in cash and wait for markets to correct, it is preferable. He uses ZPW-T and ZWH-T as well as ZLU-T to hold his exposure to the equity market. They will fall much less than the S&P. They are not risk free.

ZPW-T vs. ZWH-T. If you can afford to stay in cash and wait for markets to correct, it is preferable. He uses ZPW-T and ZWH-T as well as ZLU-T to hold his exposure to the equity market. They will fall much less than the S&P. They are not risk free.

Canadian Banks, BAC-N. See his educational segment today on Canadian banks. The US banks will make weaker lows before new highs. He is long on KRE-T (US Banks).

ZJK-T vs. ZHY-T. High yield is a sexy name for junk bonds. They are the worst quality bonds. In a downturn these companies will not be able to pay back their bond holders first. If equities fall 20%, high yield bonds fall 13%. There is more risk for a portfolio.