TradingMarkets 7 ETFs You Need to Know for Wednesday
Financial stocks led early and often, helping to move financial ETFs dramatically higher on Tuesday. Most sectors advanced, with technology, energy and consumer cyclicals receiving some of the biggest buying pressure on the day. Inverse ETFs pulled back steeply, and country ETFs – especially emerging markets country ETFs – climbed into overbought territory below the 200-day moving average.
Here are 7 ETFs You Need to Know for Wednesday.
Bank of America
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PowerRating) and JP Morgan Chase & Company
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C |
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PowerRating), which was up more than 20%.
Also higher by nearly 12% was the Homebuilder SPDRS ETF
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XHB |
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PowerRating). XHB includes among its components home builders like Pulte Homes Inc.
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PowerRating), but also home improvement retailer Bed Bath and Beyond
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Among the stronger country ETFs on Tuesday was the Market Vectors Russia ETF
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PowerRating) gaining more than 12% on the day.
One way for ETF traders and investors to track oil prices is through the United States Oil Fund ETF
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PowerRating), which edged lower again on Tuesday yet continues to be overbought below the 200-day moving average.
Up for a second day in a row and gaining more than 3% late in trading on Tuesday was the ProShares UltraShort 20+ Year Treasury Bond ETF
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PowerRating). TBT is a favored vehicle for many traders betting against the rally in U.S. long term debt and is leveraged two-to-one to the inverse of Lehman Brothers 20+ Year U.S. Treasury Bond Index.
ETF traders and investors who believe bonds have more room to run may want to consider the iShares Barclay’s 20+ Year Treasury Bond ETF
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PowerRating), which is not leveraged and is positively correlated to the 20+ Year U.S. bond market. For similarly non-leveraged, long exposure to the corporate bond market, the iShares iBoxx Investment Grade Corporate Bond ETF
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