TradingMarkets 7 ETFs You Need to Know for Thursday
Oversold conditions in a number of sectors led only to further oversold conditions on Wednesday as poor retail sales and worries about the banking industry encouraged heavy selling.
Here are 7 ETFs You Need to Know for Thursday
Want to see more green on your screen? Take a look at short or inverse ETFs like the ProShares UltraShort S&P 500 ETF, SDS
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A “1000 Day Retail Recession” is how Bloomberg guest and managing director of the Strategic Resource Group Burt Flickinger characterized the outlook for retail, consumer discretionary and technology sectors on Wednesday. Traders can hedge their portfolios against downturns in retail and consumer discretionary stocks through the ProShares Ultrashort Consumer Services ETF, SCC
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ETF traders and investors can hedge against lower prices for technology stocks through inverse ETFs like Rydex Inverse 2x S&P Select Sector Technology ETF, RTW
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Making its sixth lower low below the 200-day moving average, the Financial Select Sector SPDRS ETF, XLF
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Second only to financials in terms of leading stocks lower on Wednesday were energy shares, as oil prices continued to slump. The iShares Dow Jones U.S. Energy Sector ETF, IYE
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Continued risk aversion has helped keep the dollar aloft despite the likelihood of massive U.S. government spending in 2009. One way for ETF traders and investors to capitalize on the advance in the greenback is by way of the PowerShares DB U.S. Dollar Index Bullish ETF, UUP
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David Penn is Editor in Chief at TradingMarkets.com.