Now that we have the election behind us and for the most part it looks to be a Republican sweep, the markets have seemed to like the outcome. This takes a good amount of uncertainty out of the market and hence the bounce and now we can see where the future policies of the new government will lie. I think we will hear more about tariffs being a negative however until we see the details it is all speculation at this point.

     We did remove our small cap index as it had a large move on the election results as well as did our regional bank index but I still see a lot more upside in the regional banks and we are going to hang on for now. I continue to add to the data center growth areas and have recently been a buyer in cybersecurity with an addition on the U.S. side and the Canadian side. The Federal Reserve continued the pace of lowering interest rates and I expect one more before year end by the Fed.  In staying with the theme of data center build out we need more power and I do believe Natural Gas will be the answer and we own some good companies on both sides of the border in this area. I was also a buyer of copper based on the potential demand in this area as well. I expect more upside until the end of the year but we are a little overextended in the short term and if we do get a pullback I will be adding to the above themes.

     Have a great day and I will keep you posted as more developments occur.