I went on to say,

As I see it, half the world is in a Bull market and half has already started the Bear cycle. In the Week In Review (WIR) that I will publish Sunday morning, I’ll explain Why.

Although probably 99 pct of you disagree, in naming Bull or Bear, the Who comes easy. The equity markets of the US, Japan, UK and Germany have topped out, whereas another intermediate-term bull phase can be expected from India and China, Hong Kong and Singapore, Russia and Brazil, Canada and Australia.

What I am saying is that the super powers have spent their ammunition, and need time to re-load.

It won’t be a pretty sight watching. Something like 1973-74, or maybe 81-82, hopefully 87, and hopefully not like 2000-2002. Nobody knows at this point. All I know is that the cancer is terminal, and life in these markets continues hoping beyond hope, pumped up by the desperate Talking Heads of the corporate kowtowing financial media.

The second group doesn’t need hope at this stage. A developing middle class of consumers and savers in India and China -- well over a third of the world’s population -- is driving economic growth and corporate employment and profitability. The ammunition I spoke of came from you know Who.

The relatively small offshore centres of Hong Kong and Singapore serve as financial bridges to those huge emerging markets, while Russia, Brazil, Canada and Australia provides the natural resource commodities that rapidly growing Chindia requires.

But international trade and commerce does not operate in a vacuum. The fiscal, economic, financial and/or currency ills of the super-powers will at some point – likely not more than six to nine months later – spread to the rest of the world.

That’s not a scenario that is either popular or promoted in today’s media. Nonetheless, based on my observations and analysis of capital market prices, it’s how I size up what’s happening to the world today.

First there was the popping of the housing bubble, then the credit market bubble, and soon to come will be the presently developing commodity bubble.

Reversion to the mean. It’s how markets work. The market is us. In the long run, averages win.

This is not rocket science.

As I see my role for the People, it’s to do a lot of blocking and tackling so that you can deliver your ball to the end zone. The goal is to win. Together, we can do it.

So, for the past couple years, I cajoled, opined, whined, whatever to get you to buy equities, not bonds, commodities, not paper, write puts, not buy them, mortgage your homes at low, long-term rates or, if you could, sell your houses at peak prices and rent, get out of debt, don’t listen to HB&B when it comes to their talk about housing and credit markets, don’t listen to central bankers who print money but talk anti-inflation, and finally, use a disciplined trading system that helps you assess when to sell risk and when to buy it, because that is what portfolio management is all about.

I think you have learned a lot. I am speaking to the right audience, now. The Cara community is building.

At the “Power Within” speakers seminar this week, popular CNBC personal financial planning author and TV “personality” Suze Orman brought down the house (about 7 or 8 thousand of us) when she asked any one in the audience who had ongoing credit card debt to stand up; then she added car loans, and then other types of debt. Finally, when she had most everybody in the audience standing, she exclaimed that the conference organizers had it wrong. They told her she was coming to Toronto to speak to people with money, and “I’m obviously in the wrong place. You people have none!”

You see, the Sell-side of financial services has engrained in the psyche of people that it is better to spend than save, and to look at assets without considering the debts against those assets.

Scotiabank uses this idiotic TV ad slogan: “You’re richer than you think you are!” That’s the same as a financial advisor who says to the client, “The Dow 30 is over 14,000. Let’s buy more!” The thing is, you need to focus on the risks, the possible downside, and to sell when the market is high and extra risky, and buy when it is low and full of bargains.

If Scotiabank wanted to do the right thing for their clients, they might consider running those ads after the market has gone through a Bear phase, to reach out to say, we are going to help you make it back. Instead, I see their campaign as something akin to we are going to stuff you like a pig. They ought to be promoting their financial planning and credit counseling services at times like this.

HB&B makes it because the playing field is tilted in their favor, not because they are brilliant at business. They can afford to do the wrong thing. When they do, somebody else always pays the consequences.

It is time the People get serious about the risks in the financial and capital markets. You are going to have to stop listening to HB&B; they are now in a fight to save themselves for their behavior in the past couple years.

---

Table 1: Cara ETF List

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
XLP	27.73	-0.37	-1.32%	-1.94%	-0.61%	0.25%	5.52%	0.51%	1.39%	8.96%
SMH	35.63	-1.09	-2.97%	-1.95%	-7.33%	-7.65%	6.14%	-11.85%	-1.08%	5.20%
IYH	70.41	-0.91	-1.28%	-2.63%	-2.72%	-0.45%	5.94%	0.06%	-0.87%	5.63%
XLB	42.10	-0.59	-1.38%	-2.86%	-1.89%	1.27%	21.64%	-2.55%	8.84%	28.12%
IYZ	32.75	-0.44	-1.33%	-3.25%	-4.18%	-3.25%	10.42%	-6.51%	2.15%	15.60%
XLE	74.45	-3.57	-4.58%	-3.52%	-0.79%	-1.65%	31.58%	0.13%	20.16%	34.34%
XLI	39.70	-1.24	-3.03%	-3.80%	-4.52%	-2.29%	12.69%	-4.31%	8.56%	15.31%
XLU	39.62	-1.02	-2.51%	-4.28%	-3.13%	-1.74%	7.60%	-3.72%	-3.95%	11.95%
XLY	36.00	-0.78	-2.12%	-5.21%	-5.19%	-2.96%	-6.54%	-9.93%	-7.95%	-1.32%
XLF	32.64	-0.95	-2.83%	-8.03%	-8.75%	-5.66%	-11.59%	-9.53%	-11.62%	-7.19%

Table 2: Senior oil & gas equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
SU	104.22	-1.82	-1.72%	5.18%	9.06%	8.65%	41.01%	8.74%	30.42%	35.54%
IMO	49.17	-1.18	-2.34%	0.74%	1.28%	-1.93%	37.89%	-0.06%	27.52%	50.28%
ECA	65.15	-1.86	-2.78%	0.34%	4.06%	4.06%	43.69%	0.70%	22.28%	35.50%
CEO	178.50	-14.54	-7.53%	0.25%	8.81%	15.30%	89.35%	45.85%	107.24%	111.82%
TOT	79.14	-1.73	-2.14%	0.18%	1.60%	-2.82%	11.51%	-6.14%	9.01%	16.93%
XOM	92.14	-2.91	-3.06%	-1.43%	0.85%	-0.18%	24.33%	-0.16%	18.95%	32.14%
CVX	89.27	-3.15	-3.41%	-2.34%	-3.30%	-5.87%	25.79%	-4.01%	16.22%	36.00%
STO	32.88	-0.82	-2.43%	-2.78%	1.48%	-5.03%	27.99%	1.83%	19.13%	29.35%
PBR	80.71	-5.74	-6.64%	-4.01%	2.40%	10.41%	61.97%	14.91%	56.75%	86.87%

Table 3: Senior metals and steel equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
NUE	59.13	-1.10	-1.83%	5.19%	1.88%	-0.62%	8.50%	-3.27%	-11.26%	8.10%
MT	77.63	-1.80	-2.27%	-0.99%	-0.47%	2.00%	90.27%	17.60%	45.37%	93.11%
AA	37.44	-0.94	-2.45%	-1.81%	-3.48%	0.11%	27.65%	-16.09%	9.06%	36.00%
BHP	82.64	-3.03	-3.54%	-2.49%	3.92%	13.94%	112.61%	22.36%	67.80%	96.25%
TS	51.11	-1.03	-1.98%	-3.96%	-4.22%	-1.43%	5.34%	1.13%	8.03%	35.53%
GGB	28.30	-1.55	-5.19%	-5.67%	-0.28%	13.20%	72.35%	1.07%	40.10%	92.78%
RIO	33.26	-2.23	-6.28%	-7.41%	-0.89%	9.23%	15.41%	-35.80%	-19.04%	36.09%
TCK	48.25	-0.82	-1.67%	-8.29%	-4.38%	0.48%	-30.32%	-2.80%	-36.50%	-31.22%
RTP	341.14	-13.36	-3.77%	-8.39%	-2.13%	3.82%	67.14%	9.89%	38.62%	62.91%
PKX	159.35	-11.31	-6.63%	-14.44%	-15.77%	-12.45%	100.62%	9.49%	60.41%	136.07%

Table 4: Senior capital goods makers and transportation

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
GE	40.04	-0.75	-1.84%	-2.41%	-4.14%	-2.93%	5.45%	-1.65%	14.40%	13.49%
ERJ	47.94	-1.43	-2.90%	-2.54%	0.02%	8.83%	17.56%	-1.68%	0.23%	12.64%
ABB	27.14	-1.02	-3.62%	-2.62%	0.63%	6.10%	52.30%	10.37%	46.94%	91.80%
BA	93.90	-3.04	-3.14%	-2.89%	-8.17%	-8.47%	5.30%	-8.37%	0.98%	13.94%
FDX	103.32	-1.99	-1.89%	-3.90%	-2.58%	-0.75%	-5.88%	-11.84%	-3.71%	-10.37%
UTX	76.00	-1.43	-1.85%	-5.38%	-5.99%	-4.32%	21.00%	-1.53%	13.06%	16.92%
HON	58.32	-2.37	-3.91%	-5.49%	-2.51%	-0.63%	29.31%	-4.36%	18.87%	40.26%
MMM	86.62	-8.11	-8.56%	-8.02%	-9.63%	-5.52%	10.68%	-4.99%	11.65%	13.38%
CAT	73.57	-4.09	-5.27%	-8.38%	-8.42%	-5.87%	20.29%	-15.42%	7.21%	6.59%

Table 5: Senior consumer discretionary equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
NKE	63.33	0.07	0.11%	0.29%	4.94%	10.60%	29.69%	5.85%	18.42%	41.68%
SBUX	26.10	-0.56	-2.10%	-0.91%	-2.76%	-4.99%	-25.96%	-5.81%	-15.20%	-30.92%
WHR	86.14	-2.28	-2.58%	-3.51%	-8.64%	-6.58%	1.75%	-26.16%	-3.95%	-1.68%
DIS	33.81	-0.97	-2.79%	-4.68%	-4.68%	-2.28%	-1.14%	-1.91%	-3.18%	7.03%
TM	106.40	-2.58	-2.37%	-5.53%	-9.58%	-7.53%	-21.36%	-13.99%	-14.31%	-7.33%
CCL	47.25	-0.99	-2.05%	-5.93%	-6.99%	-3.98%	-7.26%	-0.34%	1.50%	-1.58%
EBAY	36.72	-1.38	-3.62%	-7.97%	-5.24%	-5.85%	21.71%	9.61%	10.64%	20.47%
BC	20.00	-0.60	-2.91%	-10.55%	-17.39%	-10.59%	-37.34%	-39.02%	-34.17%	-38.42%
JCP	55.35	-1.56	-2.74%	-11.14%	-19.44%	-16.74%	-29.09%	-27.74%	-31.47%	-25.59%

Table 6: Senior consumer staples equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
KO	58.76	-0.60	-1.01%	1.66%	1.19%	3.91%	20.96%	9.42%	13.55%	30.84%
MO	70.50	-0.39	-0.55%	0.63%	1.35%	2.86%	8.60%	-0.18%	1.59%	17.15%
DEO	90.30	-1.52	-1.66%	0.41%	-0.15%	4.12%	13.54%	6.52%	8.51%	25.09%
PG	70.80	-0.10	-0.14%	-1.26%	-0.04%	2.03%	9.70%	12.76%	11.27%	13.28%
PEP	70.40	-1.48	-2.06%	-1.92%	-4.53%	-1.46%	12.24%	7.53%	6.62%	12.07%
WAG	37.85	-0.52	-1.36%	-2.50%	-3.69%	-16.65%	-17.84%	-16.21%	-17.63%	-13.68%
BUD	51.31	-1.28	-2.43%	-2.95%	-0.56%	1.46%	4.25%	2.35%	-1.52%	6.90%
ABV	75.94	-4.07	-5.09%	-3.80%	-5.84%	4.80%	54.66%	0.13%	28.39%	66.90%
WMT	44.98	-0.91	-1.98%	-4.42%	-0.86%	1.70%	-5.40%	-7.81%	-6.95%	-7.24%
WFMI	47.25	-0.81	-1.69%	-8.25%	-11.18%	4.93%	3.89%	17.89%	4.42%	-26.97%

Table 7: Senior healthcare equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
BMET	45.99	0.06	0.13%	0.24%	0.31%	0.48%	10.90%	1.05%	8.47%	41.68%
AET	52.85	-1.00	-1.86%	-0.55%	-1.82%	0.97%	23.25%	4.84%	17.37%	32.42%
BMY	29.32	-0.26	-0.88%	-1.51%	-2.56%	1.10%	11.14%	-8.46%	3.17%	18.95%
NVS	52.59	-0.70	-1.31%	-1.74%	-3.15%	-4.56%	-9.55%	-3.22%	-8.08%	-12.48%
JNJ	64.23	-0.67	-1.03%	-2.59%	-3.05%	-1.37%	-3.27%	2.95%	-1.09%	-5.60%
GSK	50.76	-0.50	-0.98%	-2.80%	-6.12%	-6.40%	-5.67%	-4.17%	-14.11%	-9.29%
DNA	75.00	1.53	2.08%	-2.91%	-4.19%	-5.52%	-8.31%	-0.23%	-8.95%	-10.66%
AMGN	55.95	-0.76	-1.34%	-3.82%	-1.57%	0.96%	-18.20%	0.68%	-10.22%	-23.42%
UNH	47.45	-0.65	-1.35%	-4.51%	-0.52%	-4.93%	-9.74%	-8.56%	-8.84%	-6.32%
PFE	24.07	-0.47	-1.92%	-4.71%	-5.90%	-2.11%	-8.44%	-3.68%	-11.08%	-13.04%

Table 8: Senior financial company equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
HBC	93.90	-2.89	-2.99%	-3.07%	-4.87%	1.45%	1.00%	0.25%	1.54%	-0.86%
JPM	45.02	-0.88	-1.92%	-3.84%	-5.38%	-4.48%	-6.34%	-7.40%	-13.57%	-3.95%
CS	65.80	-2.00	-2.95%	-4.47%	-5.47%	-0.89%	-6.15%	-8.56%	-11.49%	10.70%
UBS	54.52	-1.69	-3.01%	-4.85%	-5.59%	0.87%	-11.19%	-8.31%	-12.33%	-12.16%
DB	125.00	-4.32	-3.34%	-4.87%	-7.52%	-3.31%	-7.64%	-14.68%	-14.96%	1.15%
GS	217.69	-10.16	-4.46%	-6.79%	-4.73%	3.67%	8.45%	2.83%	-0.73%	20.91%
MS	61.95	-3.45	-5.28%	-7.88%	-10.09%	-3.86%	-24.10%	-11.35%	-24.99%	-18.68%
LEH	57.22	-2.23	-3.75%	-11.47%	-10.57%	-8.74%	-27.23%	-18.76%	-26.02%	-26.15%
C	42.36	-1.47	-3.35%	-11.51%	-12.30%	-10.84%	-23.33%	-17.15%	-20.21%	-15.06%
MER	66.26	-3.81	-5.44%	-11.88%	-13.58%	-11.33%	-29.22%	-19.88%	-26.47%	-21.03%

Table 9: Senior technology equities

Sorted by 1-Week Price Performance

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W %Change	4W %Change	YTD %Change	3M %Change	6M %Change	12M %Change
INTC	26.30	-0.67	-2.48%	2.94%	2.98%	1.66%	29.24%	4.12%	20.59%	24.88%
ADBE	46.27	-0.84	-1.78%	0.33%	3.65%	10.30%	15.91%	9.64%	9.15%	20.21%
CTSH	40.02	-1.80	-4.30%	-2.20%	-6.71%	5.48%	2.93%	-8.55%	-7.45%	3.30%
SAP	53.56	-1.12	-2.05%	-4.10%	-9.57%	-8.66%	0.68%	-3.56%	8.91%	6.99%
CSCO	31.50	-1.18	-3.61%	-4.31%	-3.52%	-2.48%	13.55%	5.21%	18.07%	30.33%
QCOM	40.31	-1.07	-2.59%	-4.39%	-7.03%	-1.27%	7.61%	-7.01%	-7.03%	5.58%
INFY	48.72	-0.78	-1.58%	-5.75%	-7.08%	4.50%	-12.72%	-10.56%	-9.39%	-4.64%
ORCL	20.75	-0.68	-3.17%	-7.53%	-6.45%	-5.60%	18.50%	0.73%	10.61%	9.96%
ADSK	46.96	-2.11	-4.30%	-7.56%	-7.12%	-3.61%	15.78%	-1.96%	18.56%	34.44%
SNDK	42.71	-7.60	-15.11%	-9.89%	-18.02%	-20.26%	2.37%	-23.68%	0.28%	-30.93%

Table 10: Yahoo Finance U.S. Treasury Debt, Municipal and Corporate Bond Yields

US Treasury Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
3 Month	3.63	3.70	4.06	3.77
6 Month	3.89	3.94	4.12	3.90
2 Year	3.77	3.90	4.22	3.98
3 Year	3.78	3.91	4.23	4.02
5 Year	4.02	4.14	4.41	4.20
10 Year	4.39	4.49	4.68	4.54
30 Year	4.68	4.77	4.90	4.83

Municipal Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	3.34	3.39	3.44	3.42
2yr AAA	3.37	3.39	3.46	3.47
2yr A	3.47	3.47	3.47	3.39
5yr AAA	3.46	3.51	3.55	3.49
5yr AA	3.43	3.47	3.53	3.51
5yr A	3.71	3.76	3.76	3.71
10yr AAA	3.76	3.76	3.83	3.71
10yr AA	3.67	3.66	3.79	3.69
10yr A	3.89	3.89	3.96	3.84
20yr AAA	4.40	4.41	4.45	4.31
20yr AA	4.60	4.61	4.64	4.87
20yr A	4.41	4.42	4.46	4.59

Corporate Bonds

Maturity	Yield	Yesterday	Last Week	Last Month
2yr AA	4.52	4.67	4.87	4.77
2yr A	4.68	4.81	5.02	4.92
5yr AAA	4.79	4.86	4.93	4.96
5yr AA	4.95	5.07	5.26	5.17
5yr A	4.98	5.11	5.31	5.24
10yr AAA	5.30	5.39	5.53	5.34
10yr AA	5.59	5.66	5.71	5.82
10yr A	5.59	5.67	5.84	5.89
20yr AAA	5.68	5.77	5.88	5.92
20yr AA	5.87	5.96	6.10	5.86
20yr A	6.01	6.11	6.21	6.26

Table 11: Interest-sensitive securities

Sorted by 1-Week Price Performance.

Symbol	Close	1Day Change	1Day %Change	1W %Change	2W<