Roger Biduk; Financials Lead Bay Street Higher Again

Roger Biduk;

I wrote last week about the financial sector being oversold and should lead a bear-market rally much higher.
Well, congratulations to my clients for storming into the sector, buying ETFs that brought back returns over the last week that people usually only dream of.
The Toronto stock market roared ahead to a sixth consecutive session of solid gains as investors continued to snap up financial stocks while the energy sector also made a big contribution as crude approached the US$50 a barrel level.

Toronto's S&P/TSX composite index closed up 172.89 points to 8,559.6, adding up to a 13 per cent surge over six days. The financial sector is up more than 28 per cent over that time.
The TSX Venture Exchange advanced 5.8 points to 853.12.
The Canadian dollar climbed 0.29 cent to 78.81 cents U.S. amid data showing manufacturing sales fell during January to the lowest level in almost 10 years, reflecting continued deterioration in the auto industry.

Roger Biduk;
Statistics Canada said sales dropped 5.4 per cent to $41.7 billion as motor vehicle and motor vehicle parts industries, particularly in Ontario, reported record decreases during the month.
Excluding motor vehicles and parts and accessories, manufacturing sales decreased a more moderate 1.2 per cent compared with December.

The S&P/TSX Capped Financial Index gained 2.42%
DiversiTrust Energy Income Fun (DTN.UN) +15.97% to $3.05. Home Capital Group Inc. (HCG) +10.96% to $23.79. Canadian Oil Sands Trust (COS.UN) +9.36% to $25.93. ARC Energy Trust (AET.UN) +9.11% to $14.37. Baytex Energy Trust (BTE.UN) +8.81% to $14.69.
Canadian Real Estate Investmen (REF.UN) -7.74% to $20.15.

S&P/TSX Capped Diversified Metals & Mining Index higher by .81% as aluminum was flat, copper dropped 1.32% and silver was 1.71% lower to $12.67.
Sherritt International Corpora (S) +17.84% to $2.51. Quadra Mining Ltd. (QUA) +11.69% to $4.97.
Forsys Metals Corp. (FSY) -14.57% to $3.05. Timminco Limited (TIM) -8.56% to $2.35. Red Back Mining Inc. (RBI) -5.09% to $6.53.

Roger Biduk;
S&P/TSX Capped Industrial Index rose .53%.
ATS Automation Tooling Systems (ATA) +6.99% to $3.98.
Newalta Inc. (NAL) -6.93% to $2.82.

The S&P/TSX Capped Utilities Index gained 1.58%.

The April crude contract on the New York Mercantile Exchange gained 3.82% to $49.16 and natural gas lost .99% to $3.81 as the S&P/TSX Energy Index jumped 4.07%.
Oil was higher even after OPEC decided during the weekend not to cut production to support prices.
Breaker Energy Ltd. (WAV) +13.17% to $2.75. Eveready Inc. (EIS) +12.45% to $2.62. Trinidad Drilling Ltd. (TDG) +7.96% to $2.44. Crew Energy Inc. (CR) +7.10% to $3.47. Bonavista Energy Trust (BNP.UN) +6.35% to $15.40.

The S&P/TSX Global Gold Index lost 1.82% as the April bullion contract in New York dropped $5.20 to US$916.80 an ounce.
Gabriel Resources Ltd. (GBU) +7.87% to $2.88. Queenston Mining Inc. (QMI) +5.73% to $3.69.
Kirkland Lake Gold Inc. (KGI) -7.29% to $5.72. NovaGold Resources Inc (NG) -5.56% to $2.89.

Roger Biduk;
The S&P/TSX Consumer Discretionary Index was 1.32% higher and the S&P/TSX Consumer Staples Index lost .39%.

The S&P/TSX Capped Health Care Index was higher by .55%.
Cangene Corporation (CNJ) +8.46% to $4.36.

In the service sector:
Tri-White Corporation (TWH) +10.53% to $5.25. Mullen Group Income Fund (MTL.UN) +9.78% to $9.99. Sears Canada Inc. (SCC) +6.86% to $19.46. Trimac Income Fund (TMA.UN) +6.67% to $2.40.

The S&P/TSX Capped Information Technology Index gained 1.69% and the S&P/TSX Capped Telecom Services Index was 1.84% higher.
Research in Motion Limited (RIM) +6.43% to $52.99.
5N Plus Inc. (VNP) -6.73% to $4.85.

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