Techs Bounce, Defensives Sidelined
The breadth of Wednesday’s rally
showed through in the tradable funds, with 37 of 54 exchange-traded funds
closing higher. The defensives stayed flat while techs set the pace among the
advancers.
Exchange-Traded
Funds
The Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating)
gained 5.2%, the biggest gain among the tradable funds, on increased volume. The
Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) rose 4.5%, the B2B Internet HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) 4.4%. No
trading range breakouts, though.
The Canada
(
EWC |
Quote |
Chart |
News |
PowerRating) and Mexico
(
EWW |
Quote |
Chart |
News |
PowerRating)
WEBS picked up 3.6% and 3.2%, respectively, likely reflecting those countries’
sensitivity to U.S. interest rates. The Japan WEBS
(
EWJ |
Quote |
Chart |
News |
PowerRating) broke out of a little
consolidation zone on rising volume.
Small Caps &
Mid Caps
Wednesday’s gains extended to small-
and mid-cap issues, a fact evident in both mutual funds and exchange-traded
funds. Among the ETFs, the Russell 2000 iShares
(
IWM |
Quote |
Chart |
News |
PowerRating) rose 2.5%. Among the
mutuals, Deutsch Microcap
(
MMFSX |
Quote |
Chart |
News |
PowerRating) appreciated 4.3% in Net Asset Value,
Turner Microcap Growth
(
TMCGX |
Quote |
Chart |
News |
PowerRating) 3.7%, Prudential Small Cap Index
(
PRUSX |
Quote |
Chart |
News |
PowerRating)
3.5% and Dreyfus Small-Cap Stock Index
(
DISSX |
Quote |
Chart |
News |
PowerRating) 3.4%.