Semi, Energy Funds Lead
Tradable tech
funds turned in a mixed performance Wednesday while funds
focused on blue chips, cyclicals, and finance floundered.
Energy and semiconductor stocks rallied, lifting their
tradable funds.
The Semiconductor
HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) rose 2.6% as chip stocks confounded
predictions that the sector was due for profit-taking. It
was the day’s biggest gain among the
funds.
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Analog Devices
(
ADI |
Quote |
Chart |
News |
PowerRating)
rallied to break above the pivot point (see Point A in
chart) of a
base on a massive volume expansion.
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A few of the Net
funds pulled ahead. The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
picked up 1.9%, the Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 0.9%.
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The Energy SPDR
(
XLE |
Quote |
Chart |
News |
PowerRating),
which tracks the energy stocks in the S&P 500, gained
1.4%. As reflected in the ETF, the sector is on the cusp of
breaking out of a nine-week correction-recovery base.
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On the downside,
signs of slowing pressured retailers, sending the
Cyclicals/Transportation
(
SPDR |
Quote |
Chart |
News |
PowerRating) to a 2.0% loss. Among
its largest components, Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) dropped 1 5/8 to
49 15/16, Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) 2 1/2 to 51.
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The B2B Internet
HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) lost 2.8%, the day’s biggest loss among the
ETFs. The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) shed 2.3% on active trade.
For a take on selling in biotech leader Immunex
(
IMNX |
Quote |
Chart |
News |
PowerRating),
check out Wednesday’s
The News column.
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The Dow Jones
Financial iShares
(
IYF |
Quote |
Chart |
News |
PowerRating) dropped 1.5%, the Financial SPDR
(
XLF |
Quote |
Chart |
News |
PowerRating) 1.1%, the Regional Bank HOLDR
(
RKH |
Quote |
Chart |
News |
PowerRating) 1.9%.
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