TradingMarkets 7 ETFs You Need to Know for Friday
Financials continue to be the diet of traders looking for more upside exposure on Thursday, though industrial shares also made buy lists. Country ETFs continued to advance, many for a third day in a row, and even bond ETFs caught a bid late in trading.
Here are 7 ETFs You Need to Know for Friday.
Outperformance by Citigroup
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PowerRating) helped boost the fortunes of financially-oriented exchange-traded funds (ETFs) such as the ProShares Ultra Financial ETF
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PowerRating) which was up nearly 4% on Thursday and is back into overbought territory above the 200-day moving average. Upside progress for regional bank ETFs such as the Retail Banking HOLDRS
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PowerRating) fell off a bit late in trading after climbing more than 2% intraday.
Three days after gapping down and encouraging a rash of fresh round of panic stories in the press, the iShares FTSE/Xinhua China 25 ETF
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PowerRating) continues to soothe nervous China investors with a gain of more than 1% on Thursday.
Also on the Asian ETF front, the India Fund
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PowerRating) – which we noted in yesterday’s 7 ETFs You Need to Know for Today as among the more oversold country ETFs – rallied by more than 1% late in trading on Thursday.
Gaining against the greenback for a fourth consecutive session was the CurrencyShares Euro Trust ETF
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PowerRating). FXE last made a 10-day low on August 17th and is approaching 10-day highs. Meanwhile, retreating from its recent push up through 10-day highs is the CurrencyShares Japanese Yen Trust ETF
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PowerRating).
Given the size of the rally on Wednesday, profit-taking in energy commodity ETFs has been relatively light so far. The iPath S&P GSCI Crude Oil ETN
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PowerRating) lost less than 1% in volatile trading on Thursday.
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