TradingMarkets 7 ETFs You Need to Know for Thursday
Pullbacks in semiconductors and technology encouraged selling in related ETFs like the ProShares Ultra Semiconductor ETF
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PowerRating). Weakness in this sector also helped the PowerShares QQQ Trust ETF
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Around the globe, the drop of more than 2% in the iShares MSCI Brazil Index ETF
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Here are 7 ETFs You Need to Know for Thursday.
We noted the exceptionally overbought conditions in semiconductors in yesterday’s 7 ETFs You Need to Know. Wednesday’s trading found the Semiconductor HOLDRS ETF
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The pullback in energy shares helped boost the ProShares UltraShort Oil & Gas ETF
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PowerRating) by more than 1% before pulling back late in the trading day.
Financials advanced for a second session on Wednesday, with the Financial Select Sector SPDRS ETF
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The highest rated exchange-traded fund going into Thursday’s trading? The iShares MSCI Turkey Investable Market Index Fund ETF
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PowerRating) earned an ETF PowerRating of 8 as of Wednesday’s close. Our highest ETF PowerRatings funds have made significant short term gains nearly 80% of the time. Click here to learn more about ETF PowerRatings.
Also among the more oversold exchange-traded funds based on international stocks are the iShares MSCI Hong Kong Index Fund ETF
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PowerRating) and the iShares MSCI Japan Index Fund ETF
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And the most oversold ETF in our database is the DB Gold Double Short ETN
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PowerRating) which closed at a new low despite being up for the day on an open-to-close basis.