Seasonal investing from month to month

the annual report:

Sectors

Exchange Traded Funds are available on all of the above sectors.

Following is seasonality for equivalent Canadian sectors:

** Exchange Traded Funds are available.

Equity Indices

** Exchange Traded Fund available

Commodities

** Exchange Traded Fund or Note available

Selected Periods of Seasonal Strength in Sectors Based On Identified Annual Recurring Events

U.S. Energy

• Strongest quarter for cash flow and earnings: First quarter
• Influenced by favourable seasonality in the price of crude oil and natural gas from February to May and by favourable seasonality in natural gas from August to December.

Information Technology

• Strongest revenue and earnings quarter: fourth quarter in response to consumer electronic sales prior to Christmas
• Climax often associated with the Las Vegas Consumer Electronic show in the second week in January

Health Care

· Key health care conferences usually are in September (Oncology conference) and January (JP Morgan health conference). The sector has a history of reaching a seasonal peak when the JP Morgan health care conference is held in mid January.

· A higher frequency of drug approval in the U.S. usually occurs just prior to year end