Investors, perhaps worried their investing luck might run out on Friday the 13th, took profits, sending markets lower for the second day in a row.

Toronto’s S&P/TSX index fell 30.5 points or 0.35% to 8694.46 in relatively quiet trading of 251.5 million shares. The TSX Venture Exchange finished up just 1.01 points to 1896.98 on volume of slightly less than 104.8 million shares. The S&P/TSX has risen 0.65% over the past week.

In New York’s investors also took profits ahead of the Presidents Day long weekend. The Dow Jones industrial average declined 66.22 points or 0.62% to 10627.85, while the Nasdaq fell 20.05 points of 0.97% to 2053.56; the S&P 500 index was off 6.30 or 0.55% to 1145.81. Volume was light due to many traders bailing out early ahead of the three-day weekend. Equity and bond markets are closed Monday in honor of Presidents’ Day. For the week, the Dow and the S&P 500 both closed fractionally higher, for the second week in a row, while the Nasdaq closed just a bit lower, for the fourth week in a row.

Wall Street started the day higher, but was sent lower when investors learned that the University of Michigan’s consumer sentiment index came in at a preliminary 93.1 for February, down sharply from the final January reading of 103.8. The reading was 10 points below economists’ expectations. Stocks then temporarily bounced back, before giving up and heading lower. Also seen as adding to the declines was a government report that showed the U.S. trade deficit grew in December, more than economists were expecting, due in part to a decline in exports.

Bay Street was off despite the second consecutive day of generally good economic news. Canada’s merchandise trade surplus soared by almost $1 billion in December to $5.4 billion, the largest increase since January of last year, Statistics Canada reported Friday. Another report showed manufacturing shipments rose 1% in December, the first increase in three months.

One traded quipped that after a day like Wednesday in New York, when the market was up by more than 100 points that investors should be expected to take profits now and then.

Canada’s positive trade picture proved good news for the Canadian dollar higher. The loonie moved up US0.15¢ to US75.97¢. Profit-taking in the euro helped push the U.S. dollar back up; the euro ended the day at US$1.2735, off its record high of US$1.2898 last month.

In financial services company news, Kingsway Financial Services Inc. stock fell $1.45 to $13.85. The insurer reported after close on Thursday that its fourth-quarter profits fell 29% to $18 million thanks largely to the surging C$. For the year profits hit a record $85.3 million, up 7% over 2002.

Next week promises a light data schedule in Canada, with just two data releases, one of the CPI on Thursday, and a speech from Bank of Canada Governor David Dodge. There will be a flurry of economic news in the U.S. starting on Tuesday.