Trading in Key ETFs

Of the 200+ ETFs that we track in our daily ETF Trends report, only 7 are currently trading above their 50-day moving averages, and they're all currency or fixed income related.  About 60% of the ETFs are trading more than 25% below their 50-days.  The steel ETF (SLX) is trading the furthest below at a whopping -52%, followed by metals and mining (XME) and Brazil (EWZ).  It has now been a long time since many of these securities have even sniffed an uptrend, and unfortunately with how oversold they are, it's still going to take a long time as well.

 

Comments

[Urbane Gori...:]

Aside from all the short and ultrashort ETFs, which are doing just peachy, you neglected my favorite 'VAL', which is a VIX weighted Valium per capita consumption ETF ... It;s going gang-busters... Up 68% this week alone!

jegan ;-)

2008 Oct 25 07:25 PM