Market Currents

• Wednesday, December 23, 2009

• 10:50 AM Economist John Geanakoplos says we've yet to see the worst of the housing crisis. He notes mortgage servicers - who don't own the mortgages they service - are dragging their feet to foreclose on homeowners. In the end, "almost all of these people are going to end up defaulting and being thrown out of their homes," he says. Homebuilder ETF XHB -0.6% after weak Nov. home sales. 9 Comments

• Tuesday, December 22, 2009

• 15:24 PM Sector ETF strength: Homebuilders– XHB +2.5%. Insurance– KIE +1.9%. Coal– KOL +1.7%. Biotech– IBB +1.4%. Gasoline– UGA +1.2%. Oil– USO +1.1%.
  Sector ETF weakness: Utilities– XLU -0.7%. Gold– GLD -0.6%. Silver– SLV -0.2%. Oil Services– OIH -0.2%. Regional Banks– RKH -0.1%. Comment!
• 13:34 PM Sector ETF strength: Homebuilders– XHB +2.8%. Insurance– KIE +1.8%. Coal– KOL +1.5%. Gasoline– UGA +1.5%. Oil– USO +1.5%. Biotech– BBH +1.1%. Telecom– IYZ +1.1%.
  Sector ETF weakness: Heating Oil– UHN -1%. Utilities– XLU -0.5%. Agribusiness– MOO -0.4%. Gold– GLD -0.4%. Regional Banks– RKH -0.2%. Comment!
• 10:30 AM Sector ETF strength: Homebuilders– XHB +2%. Coal– KOL +1.3%. Biotech– BBH +1.2%. Insurance– KIE +1.2%. Biotech– IBB +.2%. Solar– KWT +1.1%. Internet– HHH +1.1%. Broker/Dealers– IAI +1.1%.
  Weakness: Silver– SLV -0.9%. Gold– GLD -0.8%. Regional Banks– RKH -0.5%. Comment!

• Friday, December 18, 2009

• 13:46 PM Sector ETF strength: Gasoline– UGA +2.3%. Regional Banks– RKH +2%. Gold Miners– GDX +1.9%. Semis– SMH +1.8%. Commercial Banks– KBE +1.6%.
  Sector ETF weakness: Agriculture– DBA -0.6%. Homebuilders– XHB -0.6%. Solar– KWT -0.4%. Retailers– RTH -0.4%. Comment!
• 10:19 AM Sector ETF strength early on: Gasoline– UGA +2.5%. Oil– USO +2.3%. Heating Oil– UHN +2.3%. Gold Miners– GDX +1.6%. Commodities– GSG +1.5%.
  Sector ETF weakness: Retailers– XRT -1.3%. Homebuilders– XHB -0.6%. Cons. Discretionary– XLY -0.3%. Real Estate– IYR -0.3%. Industrials– XLI -0.3%. Comment!

• Thursday, December 17, 2009

• 15:21 PM Sector ETF strength: Homebuilders– XHB +0.1%.
  Sector ETF weakness: Gold Miners– GDX -5.4%. Gold– GLD -3.3%. Agribusiness– MOO -2.7%. Silver– SLV -2.7%. Steel– SLX -2.4%. Basic Materials– IYM -2.3%. Comment!

• Wednesday, December 16, 2009

• 13:45 PM Sector ETF strength: Heating Oil– UHN +3.3%. Oil– USO +2.8%. Homebuilders– XHB +2.3%. Gasoline– UGA +2.3%. Semis– IGW +2.3%. Gold Miners– GDX +2.1%. Commodities– GSG +2.1%. Oil Services– OIH +2.1%.
  Sector ETF weakness: Biotech– BBH -1.6%. Utilities– XLU -0.2%. Livestock– COW -0.1%. Pharma– PPH -0.1%. Industrials– XLI -0.1%. Retailers– RTH -0.1%. Comment!
• 11:28 AM Housing starts were only slightly above expectations, but homebuilders are trading higher, with Beazer Homes (BZH) up 10.3% and Hovnanian (HOV) up 8.4%. (ETF: XHB +1.7%) Comment!

• Friday, December 11, 2009

• 14:00 PM Sector ETF strength: Homebuilders– XHB +1.5%. Utilities– XLU +1.4%. Livestock– COW +1.1%. Steel– SLX +1%. Retailers– XRT +1%.  Industrials– XLI +1%.
  Sector ETF weakness: Gold Miners– GDX -2.1%. Silver– SLV -1.5%. Gold– GLD -1.3%. Semis– IGW -0.8%. Oil– USO -0.8%.  Comment!
• 10:34 AM Sector ETF strength after one hour: Steel– SLX +1.4%. Retailers– XRT +1.3%. Utilities– XLU +1%. Homebuilders– XHB +0.9%. Cons. Discretionary– XLY +0.9%. Agribusiness– MOO +0.9%.
  Sector ETF weakness: Silver– SLV -1%. Gold– GLD -0.9%. Gold Miners– GDX -0.5%. Oil– USO -0.5%. Regional Banks– RKH -0.3%. Comment!

• Friday, December 4, 2009

• 15:27 PM Sector ETF strength: Regional Banks– KRE +2.4%. Russell 2000– IWM +2.3%. Real Estate– IYR +2.1%. Commercial Banks– KBE +2%. Homebuilders– XHB +2%. Transports– IYT +1.9%.
  Sector ETF weakness: Gold Miners– GDX -5.2%. Gold– GLD -4.6%. Silver– SLV -2.5%. Heating Oil– UHN -1.3%. Basic Materials– IYM -1.2%. Comment!
• 13:17 PM Sector ETF strength: Regional Banks– KRE +2.7%. Russell 2000– IWM +2.2%. Real Estate– IYR +2.2%. Homebuilders– XHB +2.1%. Transports– IYT +1.6%. Commercial Banks– KBE +1.4%.
  Sector ETF weakness: Gold Miners– GDX -5.6%. Gold– GLD -3.2%. Silver– SLV -2.4%. Basic Materials– IYM -1.4%. Heating Oil– UHN -1.3%. Utilities– XLU -1.2%. Solar– KWT -1.1%. Comment!
• 10:17 AM Sector ETF strength: Russell 2000– IWM +2.7%. Homebuilders– XHB +2.6%. Regional Banks– KRE +2.6%. Transports– IYT +2.4%. Steel– SLX +2.4%. Retailers– XRT +2.4%. Oil– USO +2.2%.
  Sector ETF weakness: Gold Miners– GDX -3.7%. Gold– GLD -1.6%. Silver– SLV -1.3%. Utilities– XLU -0.2%. Comment!

• Monday, November 30, 2009

• 13:21 PM Sector ETF strength: Steel– SLX +4%. Commercial Banks– KBE +1.7%. Regional Banks– RKH +1.5%. Real Estate– IYR +1.1%. Solar– KWT +1%. Financials– XLF +0.8%. Internet– HHH +0.8%.
  Sector ETF weakness: Retailers– XRT -2.1%. Homebuilders– XHB -1.9%. Insurance– KIE -1.6%. Healthcare Providers– IHF -1.4%. Telecom– IYZ -1.2%. 1 Comment
• 10:32 AM Sector ETF strength after one hour: Steel– SLX +5.8% Commercial Banks– KBE +2.4%. Solar– KWT +2.4%. Regional Banks– RKH +2.2%. Financials– XLF +2.7%. Financials– IYF +1.5%. Oil Services– OIH +1.4%. Real Estate– IYR +1.3%. Gold Miners– GDX +1.3%.
  Weakness: Insurance– KIE -1%. Homebuilders– XHB -0.8%. 1 Comment