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Steve Auger has been trading stocks, commodities and options for over 25 years and runs the website http://www.stockmarketstudent.com. After graduating from the University of Waterloo in 1981 with a Bachelor of Applied Science, he has been employed most of his career working on space and... More
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  • Sector Analysis October 21, 2012 0 comments
    Oct 21, 2012 7:59 PM | about stocks: IYW, IYZ, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, EFA, IDU

    Sector Inspector

    Most of the sectors are in a holding pattern, possibly due to the upcoming presidential election. The big exception is the technology sector which is definitely in a bear market.

    The following is this week's ETF sector analysis of the DJ symbols IYZ, IYW, IYT, IYM, IYK, IYJ, IYH, IYF, IYE, IYC and IDU.

    Caution (yellow light) iShares DJ US Telecom

    ETF Symbol: IYZ

    (click to enlarge) The chart for DJ US Telecom is still uncertain. As with other sectors, there was a big fall on Friday, bringing the price back to a trend line. The price may bounce from here but longer term the picture is clouded. Stay on the sidelines for now.

    Sell ETF (red light) iShares DJ US Technology

    ETF Symbol: IYW

    (click to enlarge) DJ US Technology remains bearish. Stay short with a target of $68.25. NOTE: Facebook (FB) earnings will be released this week. In the unlikely situation that Facebook announces unexpectedly strong earnings then exit the IYW short trade as Facebook may pull the technology sector out of its slump. Otherwise, ride the bear.

    [more]

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