B2B Fund Leads ETFs
Tradable funds
focused on the Internet led their peers Wednesday as shares
in business-to-business Net ventures rallied on heavy
volume. Old Economy stocks weakened slightly, which
pressured the Diamonds and other tradable funds tied to
industrials.
Merrill Lynch’s
B2B HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) leaped 8.3% on heavy volume, the
session’s sharpest gain among the
funds. The Dow Jones Internet Index iShares
(
IYV |
Quote |
Chart |
News |
PowerRating)
gained 5.2%. For a technical take on leadership stocks in
the business-to-business industry, check out my latest
The News commentary.
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The Internet
Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) moved ahead 4.4%, the
Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 3.6%, the Dow Jones
Telecommunications iShares
(
IYZ |
Quote |
Chart |
News |
PowerRating) 1.5%, the Telecom HOLDR
(
TTH |
Quote |
Chart |
News |
PowerRating) 1.1%.
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The Mexico WEBS
(
EWW |
Quote |
Chart |
News |
PowerRating)
added 4.4%. Mexican stocks surged on heavy volume, thanks to
news Mexico will pay off two International Monetary Fund
loans from 1995 and 1999 ahead of schedule. The country owed
the IMF $3.2 billion as of the end of July, down from $6.3
billion in July 1999. For more on World Equity Benchmark
Shares, which allow you to trade the indexes of foreign
stock markets, check out my tutorial,
WEBS: Investing And Trading In Foreign Stock Markets.
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On the downside,
the Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating), which track the Dow Jones industrial
average, lost 1.2%; the Cyclicals/Transportation SPDR
(
XLY |
Quote |
Chart |
News |
PowerRating)
1.2%; the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 1.0%.
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