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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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The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • ETF Midweek Peek: Extended Melt Up & Hard Selloff 0 comments
    Apr 4, 2012 3:57 PM | about stocks: NUGT, GAZ, UVXY, XLP, EWM

    This week's report comes at a fulcrum of an over extended melt up and a hard selloff. Bernanke's statements (Fed minutes) of not initiating a QE3 imminently, was devastating news to the bulls salivating over the prospect of "free money". With the end-of-quarter fees made by fund managers and the monthly IRA contribution in the market on Monday, there was little hope for a catalyst to sustain this historic run up.

    Market moves like this can actually be a good thing. In essence, Bernanke pulled back the curtain to expose reality in the market. A financial Darwinism takes place and the weakest are the hardest hit. Many of these were issues getting a free ride on AAPL's parabolic move (two indices I refer to as the S&P499 and the Nasdaq 99).

    Top Performers This Week

    (click to enlarge)

    <READ MORE>

    Themes: ETFs, Exchange Traded Funds, ETP Stocks: NUGT, GAZ, UVXY, XLP, EWM
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