We decided to exit the ETX Lyxor HLT (Health Care Europe) of the Active Euro portfolio, while the index continues to underperform the stoxx600. We are replacing it with an ETF with a positive short term momentum and significant short and medium term bullish potential : the Lyxor ETF BRE (Basic Resources Index).

We include in our watchlist the ETF SPDR XPH which replicates the S&P 500 Pharmaceutical Index, and is composed mainly of 41 specialty pharmaceutical stocks. This ETF expenses reach 0.35% with a liquidity of $44m and appears to be an attractive short-term trading opportunity.

We incorporate the ETN Ipath Bloomberg Copper (JJC) in our Watchlist, as it presents technically speaking an attractive configuration, which also seems to be justified by structural factors. JJC incurs a fee of 0.75%, with a liquidity of $ 56m. The index replicates futures contracts on copper (traded on COMEX).

We integrate the ETF SPDR Metals & Mining (XME), which is technically attractive, but also fundamentally, which is  due to the anticipated return of inflation on the world stage and better quality growth in China. XME expenses are 0.35%, with a liquidity of $ 543m.

Our Robot Allocator increased the Commodities share in the Global Macro Portfolio, and selected WEAT (Teucrium Wheat Fund).

WEAT, weekly data :