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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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  • ETF Midweek Peek 0 comments
    Feb 23, 2012 1:40 PM | about stocks: NUGT, OIH, BIL, KBWB, PFF, FXY, UCO

    Another holiday week moves Thursday to "midweek".

    Once again, Greek bailouts dominated the media this week with the markets euphoria significantly shorter that the duration of the story. And, once again, we see the follow-up being the bailout is inadequate and the Greek people in a state of rage. Greece is about to overtake "Rocky" in greatest number of sequels.

    Next, the cameras were refocused on Iran and the sound of war drums shoots the price of oil to a nine month high. Meanwhile, back at the ranch in the U.S., a very light calendar of economic data this week provides little market moving incentive. This morning's unemployment numbers come in as a "beat" but actually show no change.

    Apple (NASDAQ:AAPL) is the "nothing-else-to-talk-about" story on the financial channels reaching new highs as fund managers clamber to obtain this "must have" new asset class. AAPL had become 20% weighting of the Nasdaq 100 (NASDAQ:QQQ) and most technology ETFs creating a dangerous imbalance. Rebalancing of indexes as of January 31st has altered the holdings of many ETFs. A prudent move would be to check the holdings in your current ETF positions to see if you actually own what you "think" you own.

    Top performers this week


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