TradingMarkets 7 ETFs You Need to Know for Wednesday
Strength in energy and technology shares boosted ETFs – linked to that sector.
Be sure to catch two of the better performing emerging markets ETFs below, as well as a leveraged inverse ETF that is at oversold extremes.
Here are 7 ETFs You Need to Know for Wednesday.
Breaking out to levels not seen since early November, the Energy Select Sector SPDRS, XLE
(
XLE |
Quote |
Chart |
News |
PowerRating) continue to benefit from resurgent energy prices. Among the stocks in the XLE are Weatherford International Inc.
(
WFT |
Quote |
Chart |
News |
PowerRating), Smith International Inc.
(
SII |
Quote |
Chart |
News |
PowerRating), and Baker Hughes Inc.
(
BHI |
Quote |
Chart |
News |
PowerRating).
Also higher on Tuesday were technology stocks such as Sprint Nextel
(
S |
Quote |
Chart |
News |
PowerRating) and Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating), though Verizon Communications
(
VZ |
Quote |
Chart |
News |
PowerRating) continued to lag. Improved fortunes for technology stocks means improved fortunes for tech-related exchange-traded funds such as the Technology Select Sector SPDRS, XLK
(
XLK |
Quote |
Chart |
News |
PowerRating) and the ProShares Ultra Technology ETF, ROM
(
ROM |
Quote |
Chart |
News |
PowerRating), which includes AMAT, but not S.
The rise of generic drugs has reduced spending on health care, a trend that is believed to be bearish for health care stocks in general. A number of health care stocks were on the retreat on Tuesday, including Abbott Laboratories
(
ABT |
Quote |
Chart |
News |
PowerRating) and Celgene
(
CELG |
Quote |
Chart |
News |
PowerRating). Both stocks are components in the Health Care Select Sector SPDRS, XLV
(
XLV |
Quote |
Chart |
News |
PowerRating).
Strength in stocks has allowed the ProShares UltraShort S&P 500 ETF, SDS
(
SDS |
Quote |
Chart |
News |
PowerRating), to fall to its lowest level since early October.
The iShares MSCI Brazil Index Fund ETF, EWZ
(
EWZ |
Quote |
Chart |
News |
PowerRating) soared higher on Tuesday, becoming increasingly overbought below the 200-day moving average. Also higher among emerging markets ETFs was the iShares S&P Latin America 40 Index ETF, ILF
(
ILF |
Quote |
Chart |
News |
PowerRating).
According to a recent report, eight out of ten securities traded are exchange-traded funds. Want to learn how to trade them? Click here to find out what traders are saying about Larry Connors’ new book, Short Term Trading Strategies That Work: A Quantified Guide to Trading Stocks and ETFs!