Techs Weaken Anew
The tech-focused exchange-traded funds
weakened further on Monday while energy and utilities moved ahead.
The B2B Internet HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) lost 5.2%, the Software HOLDR
(
SWH |
Quote |
Chart |
News |
PowerRating) 5.2%,
the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) 4.0%, the Dow Jones Technology iShares
(
IYW |
Quote |
Chart |
News |
PowerRating)
2.0%.
On the upside, the Energy SPDR
(
XLE |
Quote |
Chart |
News |
PowerRating)
gained 1.9%, the Dow Jones Energy iShares
(
IYE |
Quote |
Chart |
News |
PowerRating) 1.8%, the Dow Jones
Utilities iShares
(
IDU |
Quote |
Chart |
News |
PowerRating), the Dow Jones Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating) 1.1%.
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.
Exchange-traded funds combine traits
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ownership in a number of different stocks, greatly reducing company-specific
risk. Like stocks, ETFs trade on exchanges, nearly all of them in fact trade on
the American Stock Exchange at present. They quote throughout the day, enabling
traders to take advantage of intraday price moves.
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