Tech ETFs Get Light Bounce
The worst hit of the tradable tech
funds got an overdue bounce Friday, but I look askance at any moves that come on
such light volume.
The B2B HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) jumped 14.9%, the
day’s sharpest gain among the exchange-traded
funds.
The top field of all charts in this
commentary uses a logarithmic price scale and displays a 50-day price average in
red. In cases where the displayed has traded long enough, the top field also
will exhibit a 200-day moving price average in black. In the second field, a
blue relative strength line represents the displayed security’s price
performance relative to the S&P 500. The third field displays vertical daily
volume bars with a 50-day moving average in blue for volume.
Note that the move in the B2B HOLDR
came on very light volume. The same also holds true for the HOLDR’s components.
Sharp price gains, low volume.
The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
rose 12.6%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 8.3%, the Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating)
7.8%, the Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) 7.5%, the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 7.3%.
Among the broad-based index shares,
the Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) rose 5.7%, the Standard & Poor’s
Depository Receipts
(
SPY |
Quote |
Chart |
News |
PowerRating) 2.1%, the Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating) 1.1%.
If you’re new to exchange-traded funds,
be sure to visit TradingMarkets’ Knowledge Center,
dedicated to explaining the basics of trading and active investing in ETFs and
mutual funds. Just click on the Funds tab
near the top of this page, then click on the Knowledge
Center tab.
You also will find lessons on trading
exchange-traded funds in the Stocks Education area of TradingMarkets.com. In
particular, check out my three-part series on trading ETFs, starting with
Average Crossovers. I also recommend newcomers read my tutorial,
HOLDRs: Unique Opportunity And Risk.