Tradable Tech Funds Bounce
The bloodied tradable tech funds
staged a bounce Monday, although the action in the underlying stocks remains
suspect given the light trading volume that prevailed on Columbus Day.
The B2B HOLDR
(
BHH |
Quote |
Chart |
News |
PowerRating) jumped 7.5%,
the session’s largest gain among the
funds. Among its components, Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) rose 8 15/16 to 122
11/16, FreeMarkets
(
FMKT |
Quote |
Chart |
News |
PowerRating) 4 11/16 to 45 1/4, Internet Capital Group
(
ICGE |
Quote |
Chart |
News |
PowerRating)
3 1/32 to 14 1/4, VerticalNet
(
VERT |
Quote |
Chart |
News |
PowerRating) 3 15/16 to 25 11/16.
Among the other tech-focused tradable
funds, the Internet Infrastructure HOLDR
(
IIH |
Quote |
Chart |
News |
PowerRating) rose 4.6%, the Dow Jones
Internet Index iShares
(
IYV |
Quote |
Chart |
News |
PowerRating) 3.8%, the Broadband HOLDR
(
BDH |
Quote |
Chart |
News |
PowerRating) 1.3%, the
Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) 1.1%.
On the downside, the Semiconductor
HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) lost 1.6%. The interest rate-sensitive Financial SPDR
(
XLF |
Quote |
Chart |
News |
PowerRating)
dropped 1.6%, the Dow Jones Financial iShares
(
IYF |
Quote |
Chart |
News |
PowerRating) 1.3%, the Banking HOLDR
(
RKH |
Quote |
Chart |
News |
PowerRating) 1.1%. For more technical insight into the financials, check out Kevin
Marder’s latest
which points out bearish head-and-shoulder topping patterns in Merrill Lynch
(
MER |
Quote |
Chart |
News |
PowerRating)
and the Amex Broker/Dealer Index.
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