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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 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 November 18, 2012 0 comments
    Nov 19, 2012 6:45 AM | about stocks: IYW, IYZ, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, IDU, IYT

    Sector InspectorMany of the sectors are looking pretty bearish again this week with the 200 day Simple Moving Average coming into play for many of these ETFs. As thanksgiving is a major holiday in the USA, I look for a potential turn positive after the holiday, probably at the start of the following week.

    Sell ETF (red light) iShares DJ US Telecom

    ETF Symbol: IYZ

    (click to enlarge) There is currently a short position being held in DJ US Telecom. This ETF has continued downward within a descending channel. The price is sitting at the 200 day Simple Moving Average. If this SMA is breached then look for the bottom to fall out of this. Keep the short position but move the protective stop to $23.50.

    Sell ETF (red light) iShares DJ US Technology

    ETF Symbol: IYW

    (click to enlarge) DJ US Technology continues to trade in the descending channel. The ETF has breached a major support level and traders should enter short with a protective stop at $68.5.

    [more]

    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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