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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
My company:
ETF Digest
My blog:
Dave's Daily
My book:
The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • QUADWITCHING FRIDAY FOR MARKETS 0 comments
    Mar 16, 2012 7:59 PM | about stocks: SPY, IWM, QQQ, XLK, MSFT, ORCL, IGV, JNPR, CSCO, IGN, AMD, SOXX, BAC, KBE, XLF, IYR, ITB, IEF, TLT, TIP, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USL, BNO, UGA, XLE, DBA, EFA, EEM, AAXJ, EWY, EWZ, RSX, EPI, FXI

    Unless you're a professional, it's best to stay away from markets on quadwitching. After all there is lots of action with little meaning and relevant to most investors. Markets churned about particularly as those players involved in "the game" moved prices about to settle their affairs.

    Late in the day came an unconfirmed report the Israeli cabinet had voted 8-6 to authorize an attack on Iran. Brent crude shot up $3 as did trading in oil futures in the U.S which benefitted ETFs (BNO, USO, and USL). Some oddly attributed oil's gains to ideas the U.S. and Britain will release stocks from the strategic reserve later this year (ya mean like October?). Why would prices rise then? Nevertheless, it's exogenous events that are the deadliest for investors beyond the obvious chaos in the region.

    Economic data Friday included the CPI which rose .4% vs the comical "core" rate which was 0%. Industrial Production was also flat (0% vs .4% prior) which was a disappointment. Consumer Sentiment also missed (74.3 vs 75 expected and prior 75.3) which must reflect real life living costs not included in the CPI the government wants you to accept.

    <READ MORE>

    Themes: ETF, ETFS Stocks: SPY, IWM, QQQ, XLK, MSFT, ORCL, IGV, JNPR, CSCO, IGN, AMD, SOXX, BAC, KBE, XLF, IYR, ITB, IEF, TLT, TIP, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USL, BNO, UGA, XLE, DBA, EFA, EEM, AAXJ, EWY, EWZ, RSX, EPI, FXI
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