Tech, Defensive ETFs Weaken
Having advanced ahead of Greenspan’s
H-H testimony in the prior session, Tuesday marked a down day for most of the
exchange-traded funds, with the tech-focused funds leading the way.
The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
gained 5.3%, the day’s sharpest loss among the exchange-traded
funds.
The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating)
sagged 4.2%, the Dow Jones Internet iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 4.1%, the B2B Internet
HOLDRER
(
BHH |
Quote |
Chart |
News |
PowerRating) 4.1%, the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) 3.8%, the Nasdaq 100
Tracking Stock
(
QQQ |
Quote |
Chart |
News |
PowerRating) 3.4%, the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 2.6%.
The defensives gave
ground, as well. The Dow Jones Healthcare iShares
(
IYH |
Quote |
Chart |
News |
PowerRating) lost 2.2%, the
Pharmaceutical HOLDR
(
PPH |
Quote |
Chart |
News |
PowerRating) 2.1%, the Consumer Staples SPDR
(
XLP |
Quote |
Chart |
News |
PowerRating) 1.4%.
The top field of all charts in this
commentary uses a logarithmic price scale and displays a 50-day price average in
red. In the second field, a
blue relative strength line represents the displayed security’s price
performance relative to the S&P 500. The third field displays vertical daily
volume bars in black with a 50-day moving average in blue for volume.
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.
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.