ETFs that Are Currently Overbought

Below is a list of ETFs currently considered 'overbought' using data from Finviz.com. In this case, overbought is defined as having an RSI (14) of over 80. Stocks and ETFs can remain overbought for extended periods of time and one can use multiple ways to define 'overbought'. However, RSI serves as a good first indicator. The theme from the list below is that preferred issues may be due for a pullback after a nice runup since March 6th (many of which have more then doubled since the 3/6 lows):

Ticker	Company	200-Day SMA	RSI (14)	Price
EWA	iShares MSCI Australia Index	41.44%	81.32	20.11
IYC	iShares Dow Jones US Consumer Services	18.77%	81.89	49.36
IYT	iShares Dow Jones Transportation Average	20.15%	81.3	67.51
PDP	PowerShares DWA Technical Leaders	19.93%	82.33	16.65
PFF	iShares S&P U.S. Preferred Stock Index	36.10%	81.79	36.12
PGF	PowerShares Financial Preferred	41.30%	80.7	16.5
PGX	PowerShares Preferred	23.49%	86.28	13.42
PRF	PowerShares FTSE RAFI US 1000	30.82%	80.95	44.05

Data Source: FINVIZ

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Comments

[Trader BOB]

Check out PFF. It has doubled in value since the bottom fell out last year and pays an excellent dividend/share.

2009 Aug 14 08:25 AM