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bnn market call

John Hood.

John Hood is president and portfolio manager at J.C. Hood Investment Counsel. His focus is on options and ETFs.

Top Picks:

Vanguard Large-Cap ETF (VV NYSEARCA)

BMO S&P/TSX Equal Weight Oil & Gas Index ETF (ZEO TSX)

iShares Core S&P/TSX Composite High Dividend Index ETF (XEI TSX)

Past Picks: October 15, 2013

Vanguard Large-Cap ETF (VV NYSEARCA)

Then: $78.10; Now: $92.59 +18.55%; Total return: +20.77%

iShares S&P/TSX Capped Energy Index Fund (XEG TSX)

Then: $16.78; Now: $16.45 -1.97%; Total return: -0.15%

Vanguard FTSE Europe ETF (VGK NYSEARCA)

Then: $54.72; Now: $54.17 -1.37%; Total return: +2.68%

Total return average: +7.77%

Market outlook:

I remain bullish on the U.S. markets; they have recovered from the most recent pullback which is healthy for markets. The U.S. recovery is real if somewhat sluggish and the end of QE has not resulted in the end of the bull market as many had predicted. The U.S. dollar remains strong so any impetus to buy gold remains weak. The decline in world oil prices has beaten down the XEG energy but I believe there is a good buying opportunity here, either XEG or ZEO. I continue to like XEI for dividend income.