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Steve Auger
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Steve Auger has been trading stocks, commodities and options for over 25 years and runs the website 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 November 11, 2012 0 comments
    Nov 11, 2012 6:25 PM | about stocks: IYW, IYZ, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, IDU, IYT

    Sector InspectorThe election caused a great deal of turmoil last week. Most sectors dropped fairly significantly, in particular utilities and technology. I strongly believe there will be some relief this week, a short term bounce as some of the sectors are at major support levels.

    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.

    Sell ETF (red light) iShares DJ US Telecom

    ETF Symbol: IYZ

    (click to enlarge) Last week a short position was entered in DJ US Telecom. This ETF has continued downward. Keep the short position but move the protective stop to $24.20.

    Caution (yellow light) iShares DJ US Technology

    ETF Symbol: IYW

    (click to enlarge) DJ US Technology continues to trade in the descending channel. The ETF is now at a major support level and will likely bounce here. But if this ETF drops below the support then it could end up in a free fall. I'm not expecting this (yet) but be prepared to jump on the short side.


    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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