Wireless Comes Unwired
It was largely a choppy, trendless
session Wednesday with most of the action coming on anecdotal news.
Telecom-focused tradable funds led the market lower after a Q3 warning from a
leading wireless provider. Profit-taking in oils put a drag on the Energy Sector
Spider.
The Dow Jones Telecommunications
iShares
(
IYZ |
Quote |
Chart |
News |
PowerRating) shed 3.6%, the day’s biggest loss among the exchange-traded
funds. The Telecom HOLDR
(
TTH |
Quote |
Chart |
News |
PowerRating) sank 2.9%. Both securities made new
all-time lows on heavy volume.
Stocks in the sector, which has been
in a major downtrend, fell again in sympathy with Spring PCS Group
(
PCS |
Quote |
Chart |
News |
PowerRating),
which forfeited 7 9/16 to 33 1/4 on massive volume following a 3Q warning. For
analysis on the stock’s chart, check out Wednesday’s Trading
The News column.
The Hong Kong WEBS shares
(
EWH |
Quote |
Chart |
News |
PowerRating)
lost 3.6%. Hong Kong stocks ended lower on concerns that a 1.04 billion-share
placement by Pacific Century CyberWorks by Cable and Wireless would thwart the
Hang Seng’s recent recovery.
World Equity Benchmark Shares, or
WEBS, track the stock market indexes of different countries. For more
information on these securities, check out my lesson, Unraveling
WEBS: Investing And Trading In Foreign Stock Markets.
The Energy SPDR
(
XLE |
Quote |
Chart |
News |
PowerRating) declined
2.0% on profit-taking in the oil patch.
On the upside, the Internet
Architecture HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) jumped 2.5%, the session’s sharpest gain among the
ETFs. The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) moved up 2.2%, the Dow Jones Technology
iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 1.6%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 1.4%, the
Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) 1.3%.
If you’re new 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.Â
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.
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