Almost... we added in also some HGU to hedge-in our still standing, and successful,  HGD trade and you have basic commodity downdraft protection in HXD for now - along with a nat gas and a precious metal lock-down.

Add to the news of JPM's compliance department rogue $2B, $4B, $8B, $16B, $32B... CIO and the spotting of Whales in France and you have the SKF-N, FAZ-N in play alongside the HFU-T hedge-in  for profits already earned in HFD-T.   We now feel that Cdn i-banks are a neutral sector (Cdn. Fin) till we revisit this trade on or about Halloween - once new rules are hopefully passed, and implemented, and better yet, possibly even enforced by near global Regulators.   But Naaa...