Sep. 27, 2015, 8:59 AM
- The $8B iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) fell 4.9% on Friday and 13% for the week - its worst weekly performance since the height of the financial panic seven years ago. Many biotech ETFs eat the same cooking - Gilead (NASDAQ:GILD), Amgen (NASDAQ:AMGN), Biogen (NASDAQ:BIIB), and Regeneron (NASDAQ:REGN) among the popular names - and FBT, XBI, and BBP fell in amounts similar to IBB.
- The news flow was relatively quiet late in the week, but Hilary Clinton's promise Monday to clamp down on drug prices set things in negative motion for the momo sector.
- Barron's Chris Dieterich reminds that a flood of biotech IPOs in recent years has filled the small cap universe with these highly speculative names, and biotech now makes up 7% of the iShares Russell 2000 Index (NYSEARCA:IWM). Indeed. The IWM fell 3.7% for the week, nearly tripling the decline of the S&P 500.
- ETFs: IWM, TZA, TNA, UWM, VB, VBK, URTY, SCHA, TWM, IWO, RWM, SRTY, VTWO, RCG, JKJ, VTWG, TWOK, FYX, JKK, EWRS, ZSML, FYC, SMLL, RYRSX
Apr. 4, 2014, 11:32 AM
- There's little movement in the S&P 500 and Dow, but what the chart-watchers like to call a technical divergence is occurring in the Nasdaq (QQQ -1.4%) and Small Caps (IWM -0.8%) for the 2nd consecutive day.
- Leading the Nasdaq lower are roughly 2% declines in Google and Microsoft. The deflating Biotech sector (IBB -2%) is again the main culprit in small caps. Up 20% YTD in late February, the IBB is back to about flat for 2014.
- Related ETFs: QQQ, IWM, IJS, TZA, TNA, PSQ, UWM, TQQQ, VB, QID, IJR, SLY, SQQQ, EES, QLD, VBR, RWJ, VBK, URTY, SCHA, TWM, IWO, IWN, IJT, RWM, SRTY, SAA, DWAS, JKL, QQEW, VTWO, RZV, SLYG, QQQE, SLYV, VIOO, SDD, QQXT, RZG, JKJ, SBB, RSCO, UKK, VIOG, VTWG, TILT, FYX, FNDA, VIOV, XSLV, FYT, SKK, JKK, PXSV, EWRS, VTWV, TNDQ, TWOK, UVT, SMLV, SJH, IESM, FYC, VLU, PXSC, PXSG, IBB, XBI, BIB, BBH, FBT, PBE, BIS
Mar. 4, 2014, 11:54 AM
- The Dow, S&P 500, and Nasdaq are all ahead about 1.25%, but the small caps are really breaking out, with the Russell 2000 up 2.8%, at an all-time high, and now ahead 4% on the year vs. a 1.4% gain for the S&P 500.
- The index's gain over the last month sums to nearly 11%. Last week, Ryan Detrick noted the Russell was up 14 of the previous 15 sessions for the first time in its history.
- ETFs: IWM, IJS, TZA, TNA, UWM, VB, IJR, SLY, EES, RWJ, VBR, VBK, URTY, SCHA, TWM, IWO, IWN, IJT, RWM, SRTY, DWAS, SAA, JKL, VTWO, SLYG, RZV, SLYV, VIOO, SDD, JKJ, RZG, SBB, RSCO, VTWG, UKK, FYX, TILT, VIOG, XSLV, SKK, VIOV, FYT, FNDA, JKK, PXSV, EWRS, UVT, VTWV, TWOK, SMLV, SJH, FYC, IESM, PXSC, VLU, PXSG
Feb. 3, 2014, 1:24 PM
- The Russell 2000's (IWM -3.3%) decline is nearly twice that of the S&P 500 and has the small-cap index now underperforming the big-cap gauge YTD (down 5.7% vs. 5.2%). It was little more than a week ago, the Russell 2000 was outperforming by about 300 basis points, and there have been numerous warnings (I, II) in recent weeks about an overvaluation in small-cap stocks that just couldn't last.
- Small-cap ETFs: IJS, IWM, TZA, TNA, UWM, VB, IJR, SLY, EES, RWJ, VBR, VBK, URTY, TWM, SCHA, IWN, IWO, IJT, RWM, SRTY, DWAS, SAA, JKL, SLYG, VTWO, RZV, SLYV, SDD, JKJ, RSCO, SBB, RZG, VIOO, VTWG, UKK, FYX, TILT, VIOG, XSLV, FYT, VIOV, JKK, FNDA, EWRS, SKK, PXSV, UVT, TWOK, VTWV, SMLV, SJH, FYC, IESM, PXSC, VLU, PXSG
Jan. 27, 2014, 12:31 PM
- Once again, it's the Russell 2000 (IWM -1.9%) leading the way as the averages tumble. Green for the year just a few sessions ago, the small cap index is now off 3.6%, though it still hasn't caught up with the Dow's (DIA -0.5%) 4.7% YTD drop.
- Earlier: Small cap biotechs torched.
- Small cap ETFs: IJS, IWM, TZA, TNA, UWM, VB, IJR, SLY, EES, RWJ, VBR, VBK, URTY, TWM, SCHA, IWN, IWO, IJT, RWM, SRTY, DWAS, SAA, JKL, VTWO, SLYG, RZV, SLYV, SDD, JKJ, SBB, RSCO, RZG, VIOO, VTWG, UKK, FYX, TILT, VIOG, XSLV, VIOV, FYT, FNDA, JKK, EWRS, SKK, PXSV, UVT, TWOK, VTWV, SMLV, FYC, SJH, IESM, PXSC, VLU, PXSG
- Apple's higher ahead of earnings this evening, but the broader tech sector (QQQ -1.5%) is also taking a big hit. Excepting Apple, all of the top holdings of the Nasdaq 100 - Google, Microsoft, Amazon, Qualcomm, Gilead, Intel, Cisco, Comcast, and Facebook - are lower.
- Broad tech ETFs: XLK, VGT, TECL, IYW, ROM, TDIV, TECS, IGM, RYT, QTEC, PSCT, FTEC, FXL, REW, MTK, PTF
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