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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)
  • ETF Midweek Peek 0 comments
    Mar 28, 2012 2:39 PM | about stocks: XIV, ERY, TQQQ, DUG, TECL, DGP, SOXL, URTY, UGL, TNA, QLD, XLV, QQQ, BOIL, UNG, TECS, SQQQ, QID, PSQ, DZZ, UVXY, FXP, SMN, EWJ, TVIX, GAZ, IYF, XLI, XLK, RTH, XLP, XLY, SPLV, IVW, VXZ, EWW

    On Monday, a Bloomberg anchorman was on the trading floor and said to one of the traders, "So it's all about The Bernank?" To which the trader responded, "It's always about The Bernank".

    On cue, the Fed Chairman has speeches scheduled and can say the magic word "QE" and fix a selling market (without actually even having to deliver the money). Unfortunately, as we saw on Tuesday, the magic spell is having a shorter and shorter duration. End-of-quarter window dressing is all the fashion for fund managers, but with a historic run-up without pause, nervous fund managers want to be the first to sell the top.

    Nervousness was aggravated by the Case-Schiller housing data down 3.8% following the previous report of down 4.1%. Homebuilders were hit after a spectacular run-up on calling a "bottom" after the previous report. Calling a "new" bottom was met with skepticism and selling went through the sector taking any related industry with it.

    AAPL continues to mystify the market chalking up over 50% gain in a single quarter and taking the entireNasdaq with it. Even in the most extreme overbought condition and declining volume, gravity defying gains are a daily routine. AAPL is a "must own" for fund managers this quarter. We'll see if it becomes a "must sell" at start of the 2nd quarter on Monday.

    Top Performers this week

    (Click to enlarge)

    <READ MORE>

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