TRUST LOST

SIF.UN

I sold my entire position of SIF.UN today. The trust sector has lost its luster and the entire sector is not participating in this rally. SIF.UN Performance has been very weak and it has failed to deliver its promises. Given the low yield and unexpected volatility, I decided to exit with a small loss. With the dividends received, I probably even. An even trade is not a bad trade.

The market improved a bit today, although I am not being aggressive here, given it is a short week and tomorrow will likely be very slow. I am contemplating to add some biotech here. Given the complexity of this sector, I pretty much decide to go with ETF's. The whole sector has been declining significantly, despite decent results and announcements from a number of large ones. For that matter, the entire health care sector has not participated in the Q1/06 rally and I believe a potential rotation (I wish I know when) could prompt it up. HMO got a bid today, which is a good sign. Biotech may follow a suite.