Low RS Bounce in Tech ETFs
The tradable Net funds
snapped back Tuesday from short-term oversold conditions, but they have little
to offer to the trend follower looking to trade long. Just look at their
relative strength lines and percentile ratings.
The B2B Internet HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating)
jumped 9.7%, the day’s sharpest gain among the exchange-traded funds. The basket
of business-to-business stocks has six-month, three-month and one-week relative
strength scores of 1 on the TradingMarkets FundScanner.
In other words, the B2B HOLDR has lagged 99% of all mutual and exchange-traded
funds in the FundScanner database. Among its components, Agile Software
(
AGIL |
Quote |
Chart |
News |
PowerRating)
rose 13.2%, Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) 14.9%, FreeMarkets
(
FMKT |
Quote |
Chart |
News |
PowerRating) 17.4%, Retek
(
RETK |
Quote |
Chart |
News |
PowerRating)
11.9%.
The Internet Architecture
HOLDR
(
IAH |
Quote |
Chart |
News |
PowerRating) gained 7.7%, the Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) 7.4%,
the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 7.4%, the Dow Jones Technology iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 7.0%, the Nasdaq 100 Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) 5.3%, the Technology
SPDR
(
XLK |
Quote |
Chart |
News |
PowerRating) 5.0%, the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 5.0%, the Wireless HOLDR
(
WMH |
Quote |
Chart |
News |
PowerRating) 3.9%.
The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) bounced
5.0%. Institutional advisor Bryan Brown, who on Oct. 16 last year warned the
biotech sector was in a cyclical top and advised clients to sell its rallies,
sees at least 20% more downside. In his view, rallies are still shortable.
Among the financials, the Regional
Banking HOLDR
(
RKH |
Quote |
Chart |
News |
PowerRating) rose 3.3%, the Dow Jones Financial Services iShares
(
IYG |
Quote |
Chart |
News |
PowerRating)
2.9%, the Financial SPDR
(
XLF |
Quote |
Chart |
News |
PowerRating) 2.7%, the Dow Jones Financial iShares
(
IYF |
Quote |
Chart |
News |
PowerRating)
2.3%.
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
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