Hedging Bets, Splitting Nets
The market split its verdict on the
tradable Net funds Monday, marking down Internet and business-to-business
Internet funds while funneling cash into Internet infrastructure and
architecture funds.
The Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) lost
2.9%, the B2B HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) 2.1%. The Internet Infrastructure
(
IIH |
Quote |
Chart |
News |
PowerRating) gained
4.2%, the day’s biggest gain among the exchange-traded funds. The Internet
Architecture
(
IAH |
Quote |
Chart |
News |
PowerRating) picked up 2.6%.
The
Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) sold off with many of the genomics stocks, then
recovered on higher-than-prior-session volume. The tradable fund ended the
session up 3.4% There was a partial turnaround in the genomics segment as well.
For more on the day’s trading action in the sector, check out Monday’s
The News column.
The Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating), which follow
the Dow Jones industrial average, roe 1 17/32 to 105 31/32. Even if you don’t
trade futures, keeping an eye on super S&P futures trader Lewis Borsellino’s
column can give you added insight into the behavior of the major market
benchmarks. In his early Monday column, Borsellino noted that the Dow has
continued to trade in a wedge. He advised to watch for closes either below
10,350 or above 10,850 we are on the sidelines. Borsellino’s column appears
twice a day during trading hours on the TradingMarkets home page.
The Industrial SPDR
(
XLI |
Quote |
Chart |
News |
PowerRating)
continued to pull away from its June 22 low.
The
defensive funds made nice gains as well. My read: This market hasn’t given up on
the tech-growth story, but it’s hedging its best against an economic slowdown,
thus the split personality. The Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) added 1.9%, the
Consumer Staples SPDR
(
XLP |
Quote |
Chart |
News |
PowerRating) 1.3%.
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