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Three top picks from Horizons' Don Vialoux

Don Vialoux is a research analyst at Horizons ETF Management Canada. His focus is technical analysis and seasonal investing.

Top Picks:

SPDR Gold Trust (GLD NYSEARCA)

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Held in my fund (HAC), but not personally or by family. Originally purchased three weeks ago at US$126.50

Gold bullion enters into its best period of seasonality during the year from July 12 to October 9. Gold established a new intermediate trend today (Thursday) on a move above US$1,335

Market Vector Gold Miners ETF (GDX NYSEARCA)

Not held in fund, personally or in family

Gold equities are approaching their best period of seasonality in the year from July 27 to September 25 GDX broke above resistance at US$26.53 on Wednesday, confirming an intermediate uptrend.

iPath S&P 500 VIX Short-Term Futures ETF (VXX NYSEARCA)
The VIX Index         

The VIX Index has just entered into a period of seasonal strength from the first week in July to the second week in October. Today (Thursday) the Index broke above resistance at 12.51 to establish a new uptrend.

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Past Picks: May 9, 2014

Horizons Active Float ETF (HFR TSX)

Then: $10.20; Now: $10.21; Total return: +0.46%

90-Day Canada Government Bond

5-Month Canada Government Bond

Total Return Average: +0.15%

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Market outlook:

U.S. and Canadian equity markets have a history of moving higher briefly near the U.S. Independence Day holiday and tracking thereafter into a corrective phase lasting until October. The correction frequently is related to a surprising non-recurring negative event. Volatility in equity markets spikes. Will the financial crisis event in Portugal be the event this year? It's too early to make that call.

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