TradingMarkets 7 ETFs You Need to Know for Monday
Significant moves in individual financial stocks did not necessarily result in large moves in the financial ETFs, which were little changed on Friday. Less talked about are the fortunes of basic materials and industrial-related exchange-traded funds, which continued to be under pressure.
Emerging markets ETFs were significantly lower close-to-close, by margins of 3-4%, but were largely up on the day. Pullbacks were notable in both materials and oil service exchange-traded funds,
Here are 7 ETFs You Need to Know for Monday.
The ProShares Ultra Financials ETF, UYG
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PowerRating) entered their fourth day of sideways trading, as traders in financial stocks remain paralyzed by the deliberations over the Wall Street bailout package currently before Congress.
The Select Basic Materials Sector SPDRs, XLB
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PowerRating) slid by more than 3% to new multi-months lows on Friday. At the same time, both the ProShares.
UltraShort Basic Materials ETF, SMN
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PowerRating), and the ProShares UltraShort Industrials ETF, SIJ
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PowerRating) are above their 200-day moving averages as well as being overbought and due for pullbacks.
The Oil Service HOLDRS, OIH
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PowerRating), closed lower for the fourth trading session out of five on Friday, losing more than 4%. Conversely, the ProShares UltraShort Oil & Gas exchange-traded fund, DUG
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PowerRating) rallied from oversold extremes near the 200-day moving average to gain more than 5% on the day.
The iShares FTSE/Xinhua 25 Index ETF, FXI
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PowerRating), lost more than 3% on Friday, though the fund was up on an open-to-close basis.
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