You think I'm going to speak to the stock market rally right? Well maybe later in this brief commentary. No, today is about the frustrations associated with what seem to be attractive new ETF issues, but are hampered by the clumsiness associated with providing shmos like me with timely and detailed historical index data.
State Street has a half dozen or so interesting looking emerging market ETFs. Yet for the past six weeks I've been in contact with their PR company that has been consistently sending me the wrong index history files. Just try to get Reuters on the task, and you may as well be talking to tech support at Dell.
Then Van Eck comes with the "R" as in BRIC -- Russia ETF, and I'm getting the wrong data there too. Of the many emails I've received from the earnest and good natured fellow at Van Eck this was one of the lines, "Van Eck does not own or maintain the Index and it's data. We've been trying very hard to get the Deutsche Boerse to provide the historical data to Reuters etc." Well, if they're having trouble, what's a guy like me to do? Seriously though, the Van Eck folks have been trying hard and I'm grateful.
Just as I'm about to give up, this came in as I'm writing -- Van Eck has made contact with Reuters and they're exchanging information.
This could be big!
The bottom line is that in the rush to get new products out the door, basic information folks like me need is in the caboose somewhere. This too shall pass, since there just can't be THAT many more ETFs a feller' can be interested in, can there???
All right, back to basic business.
Friday we get the employment report, which will be massaged greatly by "seasonal" factors and the "birth death" model. Whatever number is reported will be revised one way or another later.
The bullish mood is pervasive, so any ordinarily bearish number may get tossed aside. That's been the ongoing story -- accentuate the positive and negate the negative. [I believe that's an old WWII era song lyric.]
Meanwhile, overseas markets are still a little uneven, but at high levels.
That's all the time I have, as a medical appointment awaits. We'll be as interested in the employment number as you.
Disclaimer: Among other issues the ETF Digest maintains long or short positions in: S&P 500 Index (SPY), NASDAQ 100 Trust Shares ETF (QQQQ), First Trust DJ Internet Index ETF (FDN), PowerShares Dynamic Semiconductor (PSI), iShares Goldman Sachs Network Index Fund (IGN), PowerShares Dynamic Biotech & Genome (PBE), PowerShares Dynamic Software (PSJ), iShares Russell 2000 Index ETF (IWM), iShares Dow Jones Select Dividend ETF (DVY), iShares S&P 500 Value Index ETF (IVE), Utilities SPDR ETF (XLU), streetTRACKS Gold Trust ETF (GLD), iShares MSCI EAFE Index Fund ETF (EFA), iShares MSCI Emerging Markets ETF (EEM), iShares S&P Latin America 40 Index Fund (ILF), iPath MSCI India ETN (INP), iShares Trust FTSE-Xinhua China 25 Index Fund (FXI), iShares MSCI Australia Index Fund (EWA), iShares MSCI Netherlands (EWN) First Israel Fund Inc. (ISL).